The altblog.

Considering making extra payments on your 15-year mortgage? Don't do it! Understand how extra payments work, potential drawbacks, and whether there are better financial moves for you.

Altgage PrePay was born because a mortgage broker told me I could not get a 23yr mortgage. He called it an “odd-term amortization.” I did not know what amortization meant and asked — “why not?” If it isn’t 15 or 30-yrs, it’s odd, but what in the world was amortization?