I am going to have my credit cards paid off in about 12-14 months with the debt settlement plan and I want to focus on getting my house paid off asap like the d2p plan suggests.  I looked into a biweekly plan and am just wondering, should I wait until my credit card debt is paid off and use power payments to pay off my house or should I use a biweekly plan that I can start now?

I bi-weekly plan will only take about 7 years off of a new mortgage, power payments will pay off a new mortgage much faster. 

Hi Mark,

It's important to understand how a bi weekly mortgage plan works.  When you make a biweekly payment, you are actually taking your monthly payment and paying half that amount every two weeks.  Instead of paying $1,200 every month you pay $600 every two weeks.  However, since there are 52 weeks in a year you pay $600 over 26 payment periods in a given year.  When you examine this concept closer you see that you are actually paying the equivalent of 13 months a year.  ($600 x 26 = $15,600)

My advise would be to use the extra $1,200 to accelerate your credit card payoff, then roll the money into paying off your other debts such as car and mortgage.  By focusing the money on 1 debt at a time you will see faster results and remain more focused.