A MonsterMortgage.ca client had found that they’ve reached the maximum contribution amounts for CPP and EI on their paycheque and as a result they were collecting an additional $300.00 per month. The client had a decision to make with these additional funds and they decided to put the money towards their mortgage – a prudent choice.
So, in this case, the client will increase their monthly mortgage payment by $300.00 for the months of September, October, November and December. Once January rolls around and the client must start to contribute to CPP/EI once again, MonsterMortgage.ca will be able to change the mortgage payments back to their original state.
If you have any questions about adding this tip into your mortgage strategy, or whether or not there were any other additional ways to pay off your mortgage faster, give Kristian a call at 416-480-0234x 248 or send us an e-mail to Info@MonsterMortgage.caBACK TO NEWS FEED