My understanding, (and may not be quite right): Matrix mortgages from FLF consist of a mortgage component and a LOC component. As you reduce the principal owing on the mortgage component, that same amount now comes available to you in the LOC component.
I`d repost this question in the "Ask an Expert" forum and you will likely get a better and more detailed answer from one of the mortgage specialists.
QUOTE (RandiSandbu @ Jul 7 2008, 11:10 AM) Can anyone give me a definition for a matrix mortgage or explain how it works? Thanks.
