The bi-weekly program will reduce the time and interest you have left to pay on your mortgage loan, but it comes with a couple downfalls.

Essentially, what this program provides is it can reduce the time of your loan about 7 years. Therefore, it can make a 30-year mortgage 23 years instead.

And the amount of interest it can save is good, but it is not near the best option out there. In any case, here is an example, on a $100,000.00 mortgage, to keep it simple, it can probably save you about $25,000.00 of the over $100,000.00 in interest that you would have paid on top of the cost of the home. It would leave you paying only $75,000.00.

The thing to look out for in this program is, are the companies selling you the possibility to do this. It is a legitimate service, if you just do not want to be bothered with the small amount of hassle. But if you can take a little bit of your time and effort—and I really mean a little—you can start some kind of savings, such as stuffing money in an envelope, and make the extra payments yourself. You can do this quite easily without paying someone to keep one for you and making the deposits in your place.

Instead, you might want to keep the fee and put it towards your principle. That would be a better investment.

No matter which Mortgage Accelerator you choose, you will need to put forth some effort or cost. But the bi-weekly program, though somewhat significantly less effective than another option, I believe, has a relatively small amount of resistance to you. You can make one extra month's payment a year and hardly notice it missing from your income.

The one thing you do need to always guard against is the temptation to spend the money you stashed away for this purpose.

Do you want to learn the best way to escape paying interest? You can get my free ebook, How to Significantly Lower the Interest on All Your Loans, Including Your Mortgage, and That Without Refinancing.

To get the free ebook, click here: Lower Interest On All Loans.

Alfred Spengly currently works with a company that has been registered with the better business bureau since 2006 with zero complaints. It is a company that strives for its customer's satisfaction, helping individuals and families manage their own money by providing the tools they need to establish their own financial security.

Personally, Alfred has worked in the financial field for almost 15 years.