Monday, February 19, 2007

This post is sponsored.

For the pass 2 years, I have a big worry in mind, which is my mortgage payment... I don't like having such a big sum of money in debt and having to think about the amount of interest I am paying because of this debt... Really! Imagine the amount of additional things I can buy with these interest I am paying... I used to pay an interest of nearly 80% of the monthly mortgage payment to interest... That sucks BIG TIME, until I remortgaged with one that does a daily interest calculation and I can make flexi payment on... I saved more on this...

I read about another kind of mortgage account which is called the One Account Mortgage... It combines this debt into our normal current account and monthly salary account, and all this offsets the mortgage balance, which means, we pay less for the interest!! Seriously, it's good because most of the time, the interest we get by putting money in bank, is definitely lesser than the interest we pay for the debt... So this way, we add any savings we have into this account and it can be counted against the mortgage debt, thus further reduced our interest... Check it out the next time you are looking to sign up a mortgage plan... Save up on interest and themortgage might cost much lesser in the long run...

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