Is It Possible For Banks To Raise Cash By Giving Discounts To People Who Pay Their Mortgages Off Early?
It seems like the banks should be required to give up some assets before getting bailed out by the government and part of the deal should include some benefit to homeowners who have tried to get ahead by paying extra so they can pay off their mortgages.
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They are giving you a break if you accelerate your payments or pay extra each month. It’s called charging you less interest. I paid off my mortgage early by first paying extra each month and then using a large bonus I was paid to pay off the mortgage. I’m trying to understand what else you want or what you believe I should have gotten by paying off mine early. And if people only get an additional benefit now, isn’t it unfair to me not to get one previously?