Save money on mortgage interest with this payment strategy

13News investigated a social media post suggesting a mortgage payment hack. Making biweekly payments instead of monthly can save money and time on a mortgage. Loan officer Audrey McClelland confirmed this method can reduce interest and shorten the loan term. For example, on a $475,000 loan at 7%, switching to biweekly payments could save around $169,000 and shorten the term to about 24 years. This strategy is recommended for discussion with your lender.