Quote:
Originally Posted by retiredguy123
It also occurs to me that your mortgage with Chase is a contract that was most likely not altered by your decision to make biweekly payments. So, even though you are making biweekly payments, the payments need to provide sufficient funds on a monthly basis to avoid the penalties and default provisions that are spelled out in the original mortgage document. Chase is probably required to structure their statements to provide you with the required legal notices.
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This is the correct answer.