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Automatic Mortgage Payment

March 28th, 2006 at 03:41 pm

I signed up with BOA who owns my motgage, to have automatic online payments drafted from my checking account each month.

The drafts will occur on a scheduled day of the month (my choice). There is not necessarily a financial savings other than saving monthly postage, but it eliminates the chance of forgetting to mail in my payment.

This is my first time to utilize this payment method so I'll see how it works for a few months. Obviously, I must be disciplined to have the necessary $$ in my account by draft date.

My wife is a little nervous about this choice....time will tell.

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