patientlywaiting
“The only way Jumby’s idea would work is if the whole mortgage were a line a credit that borrowers could pay down and draw upon (up to an approved limit) whenever they wished (Idea for more innovation in the mortgage industry?).”
I think that is the idea but they are itemizing it out. You could probably throw the take the acceleration further if rathe than using the line of credit you threw a few 0% credit cards into the fold. That would allow you to apply almost 100 % of your pay check toward the paydown of the loan and then at the end of the year use the LOC to pay back the credit card and then rinse and repeat the process.
