You pay half your mortgage every two weeks instead of making one payment a month. That will result in 26 bi-weekly payments a year, or the equivalent of one extra payment. You can accomplish the same result yourself. By doing this, you will cut the term of that 30-year mortgage to about 23 years. If you're someone who hates debt and would rather reduce the mortgage than invest in the volatile stock market, probably so.
Financial analysts say that paying down a mortgage early is similar to investing.
You probably can't do that well in any kind of a savings or money market account or even a certificate of deposit right now. There isn't much romance in the real estate industry. If you doubt that, just consider a proposal from Countrywide, a big national lender. Despite high starting salaries for many grads, the magazine said, big college loans make kids reluctant to strike out on their own right away. While most of those grads plan to move on within a year.