I think this is a facinating concept. But I agree with others that the hard part would be not “respending” the equity you’ve already paid down. However, I love the concept on paper. My checking account earns about a 1-2% interest rate. (1.56% last month) On that interest I pay about 33% to Uncle Sam and another 6% to Maryland. (Where I don’t even live, but my husband works). So what is my total take 3/4% ? Maybe? I’d much rather save between 6-7% on that money. But this wouldn’t work unless you are incredibly disciplined.
