Australia's unique twist on early mortgage payoff
Borrowers deposit paychecks into line of credit account to reduce interest owed
By Tom Kelly, Wednesday, November 21, 2007.A financial planner once told me that people did not really concentrate on saving for retirement until they paid off their home mortgage. The reason was that discretionary income was so precious after all mandatory monthly obligations were satisfied that consumers spent what little was left on a wanted treasure, trip, or recommended stock or bond.
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Copyright 2007 Tom Kelly
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