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While it can make sense mathmatically, we advise that you consult with your licensed financial planner in reference to transferring funds between accounts. In moving your savings into your Money Merge Account system, it is possible to further decrease the loan balance on which interest accrues, and potentially decrease even further the amount of time left to pay off your mortgage. When you need access to money you can draw money out through your line of credit.
Keep in mind that it does make good financial sense to keep some savings in a savings and/or similar account that is separate from your Heloc and/or other Line of Credit. This enables you to have access to funds should you ever need them outside the use of your Heloc and/or other Line of Credit. The amount you choose to hold outside your line of credit is between you and your licensed financial planner and is dependant on your personal financial needs. We advise that you always seek the advice of your licensed financial planner.
