Product Basics-
This exiting new sector of personal finance, "Mortgage Acceleration" is not a new concept in the "global" marketplace.  Although it is fairly new and gaining momentum here in the states, it has been an effective tool in the over seas mortgage industry for years helping millions of people manage their money and eliminate mortgage interest in Australia, the U.K. and other parts of Europe.  For simplicity purposes, there are two basic models; a first mortgage accelerator loan (the Australian model), or the use of dedicated software in combination with a second mortgage HELOC (the U.S. model) to accelerate scheduled mortgage interest due.   
The Australian model is currently offered in the United States called the CMG Home Ownership Accelerator. This loan is a first mortgage, and borrowers must refinance into this product (traditional qualifications apply- credit, equity, and income.)  The ingenuity behind this loan is that it combines a Variable First Mortgage Line of Credit with a checking account.  The homeowner directly deposits their income every month into their mortgage account.  These deposits get credited to your mortgage immediately and sit in your account in the form of “principal” thus over time, decreasing the amount of interest owed. Throughout the month, homeowners can access their money by writing checks or using a dedicated ATM card as you would a traditional checking account.   Although the CMG loan is variable, it does pays off your home faster than a traditional mortgage by maximizing your discretionary income and the “float” from when you deposit your income and the time you pay your bills. 
The U.S model is a hybrid utilizing dedicated mortgage software and a Home Equity Line of Credit. The implementation of this dedicated software allows you to keep your traditional closed ended 30 year fixed mortgage (or what ever mortgage you have currently).  Again, the homeowner does not have to refinance, but must obtain a Home Equity Line of credit which has "open ended interest" calculations (traditional qualifications apply- credit, equity, and income).  The dedicated software of choice is then uploaded with all of the homeowner’s mortgage, budget, and income calculations creating a custom amortization schedule and actually gives you a final target date of when you will be mortgage free and or completely debt free.  The ingenuity behind this software is that it synchronizes mortgage banking principals, your first mortgage, your personalized acceleration schedule, and your HELOC account together to help the homeowner apply the interest cancellation process as efficiently as possible. Utilizing this “system” the homeowner simply deposits their income every month into their HELOC account.  These deposits drive the HELOC balance down signaling the software to alert the homeowner to make a specific principal payment to the first mortgage which over time decreases the amount of interest owed.  Throughout the month, homeowners can access their money from the HELOC account by writing checks or using a dedicated ATM card as you would a traditional checking account.  The system works and does pay off your home faster by maximizing your discretionary income and the “float” from when you deposit your income and the time you pay your bills. 

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