Make all Mortgage Lenders (Example Chase) Accept Bi-Weekly Payments
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My mortgage was recently purchased by Chase and I went online to try and start bi-weekly automatic payments. Upon contacting them they let me know that they do not offer that as an option and won't be offering it in the future. I find this to be a little ridiculous because given the technology and ease of money transferring I believe all financial institutions should allow bi-weekly pay schedules at a minimum (Should be even more, if you wanted to do weekly that should be an option too, but I can settle for bi-weekly) that apply the payment immediately to the balances and help you reduce your total interest of the loan. This will help all borrowers to payoff their loans faster and with less interest paid. To be honest, it also should be a requirement for student loans and other large loans.
If you believe that these programs should become rules for all mortgage lenders please sign my petition.
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