Money Forward

This blog is about money and trying to keep my money from flying out the window.

Thursday, November 09, 2006

Mortgage Accelerator

Here is an article from Yahoo! that talks about a new type of mortgage in the U.S. that has been used in Australia and the UK. Basically you use a HELOC to desposit your paycheck and use it to pay expenses. Everything left over pays your mortgage. This all assumes you are disciplined with your finances and that you have a positive cash flow. There is an annual fee, but it may be worth it if you save more than that on interest. Just an other option to try and pay as little in interest as possible.


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