I came across something that I really found as an intriguing approach to paying down your mortgage. At the One Account, they put all of your income and savings to work for your in paying down the balance of your mortgage. The One Account is a company specializing in mortgages that actually work "for you" and not against you.
Instead of the extra money that you have sitting in your savings and living accounts every month doing nothing for you, how about having that amount applied to your mortgage balance which in turn lowers the amount you will pay interest on, reducing the amount of time it requires to pay down your mortgage and saving you large amounts of money.
As long as you leave the money in your account, that amount is applied to your balance while it's there. They have a great calculator on the site where you can easily see how much you can potentially save in interest payments and the reduced time it will take to pay down your mortgage. My instincts tell me that this is something that could easily catch on and change the way we pay our mortgages in the future. Check it out today and see how much you could be saving right now!
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