New Home owner

When you pay your mortgage every 2 weeks or every 3 weeks instead of once a month, you wind up making extra payments to the mortgage company and wind up paying off your mortgage faster. When you pay every 2 weeks, that's 26 payments a year. When you pay it yearly, that's 12 payments a year. You're making an extra payment when you pay it bi-monthly and in turn, the interest you pay is less and you pay off your house faster. If we owned our own home, we'd likely set up something like that, but home prices in the Bay Area are so expensive that we found it easier to rent a nice 3 bedroom townhome for the time being.