Are "bi-monthly payment plans" offered by my lender worth it?

Are "bi-monthly payment plans" offered by my lender worth it?

Ron Goodlin (Mortgage Banker and Broker, The Goodlin Group) gives expert video advice on: Is it possible to pay off my mortgage loan early?; Is there a penalty for paying off my mortgage loan early? and more...

My whole philosophy with mortgages is "Sure, if you put a decent amount down as down payment when you originally bought the house." So, if you buy a million dollar home, you put $300,000 down for down payment, your new loan amount is now $700,000. My whole philosophy is let's not put any more money into the home. Let's use the additional money for other investments that you can stick your money into with a better rate of return. So, yes, it is out there, but I wouldn't recommend to most of my clients to do the bi-weekly or bi-monthly payments.