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I ran across an interesting concept where you treat your home mortgage like a combination "credit card" and bank account. It has the potential to lower your total interest payments.

The mortgage is offered by CMG Financial Services at http://www.cmgfs.com

You deposit your check in your "mortgage account". Since your mortgage interest is based on your average daily balance, the direct deposit immediately reduces your interest.

You can pay bills from your mortgage (increasing the balance), and also use an ATM to "pull money" from your mortgage (increase loan balance).

If you have a relatively short-term adjustable rate mortgage (ARM), you face risk from rising interest rates. If interest rates go up, stay up, and your mortgage payments go up correspondingly, you may have trouble making your mortgage payments. Two mutual funds (RRPIX and RYJUX) reduce your risk from rising rates.

Today I received a mailing from Financial Heritage. They offer reverse mortgages primarily targeted at seniors.

With a reverse mortgage, you can receive income as :