Congrats on launching! I just want to vent about something bank-related, and hopefully bait someone to tell me how this solves it. Or something else solves it. Have you ever heard how you could pay off your mortgage a lot quicker by making bi-weekly payments instead of monthly? Or how you can include extra with your payment and instruct your bank to apply it directly to the premium, helping you reduce your interest?…
Some banks aren't setup to handle this correctly, and do weird things with a bimonthly payment. They get a payment on the 1st, but it's not the full amount due, so they apply the entire payment to principle. Then they get another payment on the 15th, and since it's not the full amount due, they apply it to principle again, and then they complain that you didn't pay your mortgage, you point out they're dumb, and they have someone go torture the computer until the late fee is gone.
And then this happens every single time and so the bank gives up and just applies all payments to "amounts due".
Older banks are quite susceptible to this. You can solve this because the "lot quicker" isn't really because of early payments, it's because there are 12 months in a year but 26 biweekly payments, which means you make a 13th mortgage payment; so just do one principle payment or increase your monthly payment by 10% or so.