| Are bi-monthly payment plans worth the expense? |
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| No. The same results can be obtained for free by dividing your principal and interest payment by 12 and adding this to your monthly payment. This will save you the initial set up fee and the monthly charges typically associated with bi-monthly payment plans. The theory behind the bi-monthly payment plan is to make 26 half payments or 13 full payments during a 12 month period. |
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