Folks
Due to an inheritance, I am now in the fortunate position of having the amount of savings in my off set mortgage equalling the mortgage amount. i.e i will not be paying any monthly mortgage payments if i keep the equilibrium. I don't plan to pay off the mortgae now in case I need to dip into savings for the kids education in the future.
However since the bank will not be getting any interest out of me now does anyone know if the bank would be willing to make it worth my while in me paying off the mortgage? What's in it for the bank if I keep the savings and mortgage amount the same?
Thanks in advance.
Due to an inheritance, I am now in the fortunate position of having the amount of savings in my off set mortgage equalling the mortgage amount. i.e i will not be paying any monthly mortgage payments if i keep the equilibrium. I don't plan to pay off the mortgae now in case I need to dip into savings for the kids education in the future.
However since the bank will not be getting any interest out of me now does anyone know if the bank would be willing to make it worth my while in me paying off the mortgage? What's in it for the bank if I keep the savings and mortgage amount the same?
Thanks in advance.