About two thirds of the mortgages in Europe and Australia are written as CAM (Combined Account Mortgages) and under certain circumstances for some borrowers they can be an exceptional tool that can automatically greatly accelerate the payoff of a borrower’s mortgage with no change in the borrower’s spending habits or any special administrative procedures required of the borrower. The key here is that CAM mortgages will benefit the borrower only if he or she makes significantly more money per month than they spend but do not use their excess cash to accelerate the payoff of their existing mortgage because they may need the money downstream. With the typical mortgage they cannot retrieve any extra money they may have paid in without refinancing or selling their home. With the CAM mortgage they can.

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