Influencers want to hack your high mortgage rates for a new car or an extra vacation. 'This can be a great strategy,' housing market expert says—but only if you can really budget for it

A TikTok trend says homeowners can save $80,000-plus with this mortgage hack. But is it too good to be true?

You can “save a ton on interest” on your mortgage with one viral TikTok hack, according to an influencer called Mrs. Dow Jones, posting in late September. All that homeowners have to do is make biweekly payments—i.e., half their mortgage, twice a month—instead of monthly payments. This method means homeowners make 13 payments in a year instead of 12, thus bringing down their mortgage balance more quickly.

“Just make sure you call your lender and have them apply that extra payment to the principal balance, not the interest,” Mrs. Dow Jones added, reasoning that making extra payments toward the principal brings the whole thing down faster.