[SWake]

Just adding the small next month's principal payment to each monthly payment will pay off a thirty year morgage in fifteen years.

Oh, yeah. Absolutely. I was once warned that if you do not clear it with the mortgage company before sending the payment that it could be applied to the escrow. Not my experience ... I just called and requested the draft be increased.

[jec41]

Oh, yeah. Absolutely. I was once warned that if you do not clear it with the mortgage company before sending the payment that it could be applied to the escrow. Not my experience .

Some companies will apply it to escrow if you do not designate what is for. However by law, escrow can only have a certain overage and the money must either be returned at the end of the year or applied to the principal. They usually apply it to principal at the end of the year but you will not benefit as much as if it is applied monthly.