There are different types of mortgages, but our interest is calculated on the minimum monthly balance, so what we do is load all our income into the mortgage account and live off the Credit Card, then pay it off at the end of the month. So in effect, although we're not paying any more off the loan, what we are paying is more capital and less interest. It's quite good really.
__________________
Kind words are the music of the world. F. W. Faber
|