Every body in this world have to for a loan one or the other day there are few exceptions to those who are living in opulence , this is because the prices of the land , infrastructures have gone too high which you cant afford to pay at a stretch.In order to avail a personal or a housing loan you keep your property as security for the repayment of a loan, mortgage in simple terms can be explained as "A conditional conveyance of property as security for the repayment of a loan".
Interest on loan is one such thing that doesn't sleep and it keeps ticking , as each day advances the amount of interest on the borrowed capital gets accruing. you need to find a better way to shrink the amount of interest you pay AND the length of your mortgage.Well , I have found oneaccount , the name itself reveals the fact of having one account that combines your mortgage and salary, the main advantage of oneaccount is you debt account will act like a current account and whatever salary you earn oneaccount offsets your debt in a very systematic way such that you can lead a normal life with oneaccount striving hard to reduce the debt at a very steady rate.
The job of one account does not stop here , It even takes care when you have excess monthly income left in your account, it is counted towards your mortgage debt and you pay interest on this reduced sum. If you have saved more money , this amount too can be counted against the mortgage debt too, thus further reducing the amount you pay interest on.
You have the convenience of repaying extra money on your mortgage any time you want without penalty , When you have a very tight financial position you can by all mean take a break from mortgage repayments if finances get a little tight, One fine day you will get amazed looking at your debt reduced to a meager amount which you havent conceived in your life.
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