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Slava · 11-18-2011, 01:18 PM

I know that I'm likely going to get flamed for this, but I'm just going to say it anyway. Products such as Manulife One are much better than a conventional mortgage. When you line them up side by side (and don't factor in a change in your spending habits or things like that) you generally see a reduction in the number of years it takes to pay the mortgage. The difference is basically in the manner in which you carry the debts.

There are drawbacks and risks, and a mortgage like that is definitely not for everyone, but there are advantages for sure.

Purely in my opinion, the banks don't really want to see people pay their debts off sooner; its a steady source of income and a steady interest payment from their perspective. Manulife isn't doing this to be altruistic though; they want to see people pay off debts so that they can buy more insurance and invest more money with them so that they make more money as well! There is no question that each is acting for a specific reason.

11-18-2011, 01:18 PM	#165
Slava Franchise Player Join Date: Dec 2006 Location: Calgary, Alberta Exp:	I know that I'm likely going to get flamed for this, but I'm just going to say it anyway. Products such as Manulife One are much better than a conventional mortgage. When you line them up side by side (and don't factor in a change in your spending habits or things like that) you generally see a reduction in the number of years it takes to pay the mortgage. The difference is basically in the manner in which you carry the debts. There are drawbacks and risks, and a mortgage like that is definitely not for everyone, but there are advantages for sure. Purely in my opinion, the banks don't really want to see people pay their debts off sooner; its a steady source of income and a steady interest payment from their perspective. Manulife isn't doing this to be altruistic though; they want to see people pay off debts so that they can buy more insurance and invest more money with them so that they make more money as well! There is no question that each is acting for a specific reason.