A co-worker of mine suggested that paying your mortgage down in two payments per month (i.e. half the monthly mortgage payment every two weeks or so) is noticeably better than one monthly payment. At a guess I suppose this method causes less interest to accrue. Instead of paying interest on (pure example here) $1000 for one month you pay interest on $1000 for two weeks and then on $500 for two weeks.
I have no clue how to work an amortization table to see if this is true. If it is it sure seems like an excellent way to shorten the life of your mortgage without any real added cost to you.
Does anyone know if this really works? Does anyone have any similar ideas on easily shortening your mortgage with little or no added cost?