This post can be found on Springpad’s new blog.
Quick Idea: Make smaller mortgage payments every other week, shortening a 30-year mortgage to only 24 years.
How it works: If your mortgage payment is $1500/mo, instead pay $750 every other week. At the end of the year, you will have paid 1 full extra mortgage payment. You will also have “prepaid” every month directly toward the principal, which will save a bundle in the amount of interest you pay over the life of the mortgage. Calculate exactly how much you’ll save by paying bi-weekly.
What to do: 
Spring the task list!
1. Be sure you can afford it – I recommend always having one full month’s mortgage payment in your checking account to cover the 2 months when you will make 3 (half) payments.
Spring a household budget planner!
2. Contact your mortgage company to find out if they offer a bi-weekly payment. Most either offer it themselves or contract with a service.
3. Set up automatic payments for every other week or create a repeating reminder for yourself to write the checks.
Spring a bi-weekly alarm!
Resources
Mortgage Calculators Plus Why Does A Bi-Weekly Program Help You?
Wisebread DIY Mortgage Acceleration
My Money Blog Biweekly Mortgage Payment Plan: BiSaver vs. DIY
About.com Save Tens of Thousands of Dollars But Avoid the Scams
The Simple Dollar Extra Mortgage Payments Versus Investments: Which Is The Right Move?
Great info. I just wanted to let you and your bloggers know that Equity Express is now offering free biweekly conversions on existing and new mortgages. Normally costing a few hundred dollars, it’s now free to the consumer to help ease expenses in these trying economic times. Equity Express (888) 438-5536
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