Prepaying Yourself

An alternative method of prepaying a mortgage (Oct. 20) has not yet mentioned. Instead of sending extra payments to the mortgagee, put the extra money into an income-earning savings account.

The big advantage is that it is liquid and available for emergencies. Once paid to the mortgagee, it can never again be drawn on in any emergency. The disadvantage is that the interest earned on it will probably be less than the interest it would have saved on the mortgage, but the immediate availability and the comfort and assurance it provides must also be taken into consideration. Granted, this is not a plan for those with a low level of self-discipline.

FRED RESENER

Fresno