Sweep Account to paydown mortgage

[George Smith]

Has anyone here utilized a sweep account to pay down their mortgage quicker? Ive seen only a few articles on the topic, including one's who say there is no difference than paying extra each month or others who offer to sell you software which im not interested in. 

I searched on here and Im surprised that I couldnt find anything on the topic considering that many in the UK use these types of accounts to pay down there mortgage.

Thanks in advance,

George

[Charlie Fitzgerald]

You can set this up on your own and save the cost if of the software.  You can also just  pick the date you no longer want to have a mortgage and cash flow it accordingly.  Personally, I would "sweep" the additional payments into a principal protected ETF account and let it earn for me and at the point I had enough in the account to write 1 check and pay off the mortgage, I would consider it.  Mortgages on investment properties don't bother me.  I don't pay them, my residents do and I just reap the depreciation and appreciation benefits.