Anyone who's ever dealt with a conventional commercial mortgage bank knows how difficult it is to pay down interest faster, apply an extra payment or generally reduce the debt faster than the standard amortization allows.
A new type of account may be a first step in changing how a mortgage is paid down. This account, called the One Account combines the mortgage with your monthly salary and optionally, any savings, and pays down the debt in a much more powerful, more efficient manner.
At One Account you can access their amazing Mortgage Shrinker, an online calculator that will show how much shorter your mortgage term could be and how much you could actually save by paying smarter.
The idea is a blockbuster and anathema to the banking business, but for consumers, well worth a look.