Biweeky Mortgages Being Used More
Sloane, Leonard, THE JOURNAL RECORD
NEW YORK - More homeowners around the nation are taking advantage of mortgages that require payments every two weeks instead of once a month.
There are two major reasons for the upsurge in biweekly mortgages this year.
First, the Federal National Mortgage Association, a federally charted private company that invests in home mortgages, recently created a market for them, and that has helped to make them more available to consumers.
Second, some banks and marketing companies are now developing ways for holders of monthly-payment mortgages to switch easily to biweekly ones.
But biweekly mortgages are not for everyone, and represent a small …
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Publication information: Article title: Biweeky Mortgages Being Used More. Contributors: Sloane, Leonard - Author. Newspaper title: THE JOURNAL RECORD. Publication date: October 28, 1988. Page number: Not available. © 2009 THE JOURNAL RECORD. Provided by ProQuest LLC. All Rights Reserved.
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