Quote:
Originally Posted by JERRY2KONE
Instead of paying extra on your mortgage you may want to think about putting that extra into a savings account just in case you get laid off or the plant shuts down for one reason or another. That would give you something to live off of in case the bottom falls out on you.
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Don't US residential loans offer what we know as 'redraw facilities'?
The redraw allows you to access the extra payments in times of need all the while keeping the interest component down - win/win for the borrower with spare cash