You can accomplish the same result yourself. Or, divide your total mortgage payment by 12 and add that amount to your monthly check, marking it to pay down the principal. Calculate your payments on the principal and interest you pay, not on taxes or insurance. 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. You might do much better in stocks, but probably not this year. In any case, don't pay someone else to do this for you when it's so easy to do yourself. The Mercury News. The information you receive online from The Mercury News is protected by the copyright laws of the United States.