Typically, homeowners do the following steps:

• Get a mortgage
• Set a payment
• Forget about it till renewal

Here is an example: a $250,000 mortgage at 4.5% amortized over 25 years with an accelerated bi-weekly payment will cost $390,066.03 in total ($140,066.03 in interest) and the mortgage will paid off in 21.69 years.  At a 40% tax bracket, a person has to earn $233,433.38 to pay the interest portion of the mortgage!

By putting $750 extra on the mortgage every 6 months, the mortgage will be paid off in 19.08 years and the total interest paid is reduced to $121,449.65 (savings of $18,616.38).

Small steps do make a difference, it's your hard earned after tax dollars.