Any experience with United First Financial's Money Merge Acc

"If you are serious about not just paying off your mortgage but all your bills, this is the best program out their. I have been doing it for a month and payed off all my debt except my mortgage and the initial Heloc. I borrowed $65000 to pay off all my debt and by following the mma program haven't paid a cent in interest and am lowering my Heloc and will then start working on the principal on my mortgage. Everything will be paid off in 5.6 years. I had 24 years left on my mortgage if this program didn't come along. I definetly would recommend this to anyone who wants to be debt free!!!"

Howie,

You made the statement that you paid off all your debt... and you only have the mortgage and the heloc now... so you haven't really paid off anything yet. (not to say that a refinance to pay off debt is always a bad idea)

If you truly are a customer... I recommend paying off the heloc as quickly as possible as I guarantee it is costing you extra money. If you want to you can join this site and PM me with your info.... I will help you... I don't want your mortgage business and I will help you figure this out for free... just to make sure nobody gets ripped off by these programs.

You could have, believe it or not, just started throwing the extra money at your first mortgage and paid it off faster simply by reducing the interest.

"Ahhh...the real world responds! It's like a breath of fresh air!"

Chuck,

You make a statement like that and you won't have an honest conversation with me about this subject.

Do you realize that there is no such thing as effective interest. If you could get the rates that they say you need you would be paying it over 30 years which would be great because you would have a low low payment. That doesn't happen on your "program". All that happens is you pay the principle off faster and you don't pay interest on money you don't owe. It is that simple. No principle ... No interest. Can it be any clearer. These "Australian" programs don't work. PERIOD.

I have been posting about this for months and I have yet to be proven wrong. Just insulted. What a joke. But guess what? I will not stop as long as you all are posting here on this site. You think that you are getting free advertising but people are smarter that you think and they will understand the point I am trying to get across....

Especially since I am not here peddling my wares. I am not here to sell anything just help the sites visitors. If you haven't noticed check some of my many many posts and not just on this subject.

Alright already -- you don't see merit in the approach these loan products take. Go save the world from them!

As to 'advertising', I'll tell you what -- I'm taking my contact info off my signature, just like you. And, when I mentioned CMG's website long ago, I erred. However, if I were to post every lenders website, would you make the same statement?

I try not to get personal -- I like to work together -- and, I enjoy helping visitors to this site, too -- just like you. Thanks for the feedback, my friend.

P.S. -- I like your photo with your little one! Good Health to You!

Sorry for the delay.

I agree I want to help as well. I have shown many LO's the faults in these systems. I do look at it as my way of "saving the world". We each have our own small parts to play. I consider this to be like many get rich or out of debt schemes... it wastes peoples time, energy, and money.

I am very big on not allowing advertisements. And that goes for any ad I don't care who it is for. I will edit them when I see them. All this site asks is that people follow the rules and play nice. I try to be open minded and fair with everyone... but I won't (obviously) budge on this subject (Heloc payoff schemes). I am FOR paying off a mortgage if the situation warrants it. But I only recommend following a plan that actually saves you money, not wastes it.

Truthfully I think that LO's can take it personally when it comes to this idea and they don't fully understand it. If you want to take the conversation to the PM side I don't mind... I really care that you understand the subject. I would be willing when time allows to break it down day by day. Don't take it the wrong way, I really want to help.

Hey, Howie! Stay in touch, Bro!

I have no experience with the actual MMA product you are contracted to, since I work with and believe the CMG way of doing things, BUT I sure would love to know if you still appreciate the money-saving road you've embarked on when June and December roll around. Please let us know!

It is difficult for many people to set aside money to add to their principal payments, since most of us live within our means -- this means we probably own a home that we can afford, and a mortgage payment we can afford. Most of us have not allowed additional principal payments in our monthly budgets, so WE DON'T DO SO! Your choice of this MMA product is allowing you TO DO SO. Good Luck!!

Ok I was going to drop it but here we go again.

Your second sentence makes no sense. I am not "contracted" to any service. I am against all MMA heloc payoff schemes. I DO NOT PROMOTE ANY OF THEM. PERIOD.

Now as far as the futile sales pitch you offered at the end. You are wrong sir.... you can get into the "name game" as we in the mortgage world call it. Yes it is true you don't actually make "payments" (notice the quotes) to the heloc.... but you do have to send them extra money or else the loan never gets paid off. So even though it is not a "payment" per se. It is still the same amount of money. There is no proof available that you can do this without spending extra cash. You must do just that. Or else the program doesn't do anything but cost boatloads more money. That is why I still to this day say... "Just use that extra cash (whatever your definition is) and pay off your 1st mortgage with that. It is that easy no programs or formula's to follow. Just plain old (and might I add, this is what adults do) paying bills.

Do not try to confuse the subject and make it hard for this forums readers to follow. Or are you saying here in black and white for all the world to see that this program is some sort of magic and you don't have to spend any additional money except what you are currently paying? Please explain... because if your payment was $1000 on a 1st mortgage and you would have it paid off in 30 years... the only, I repeat ONLY way to pay it off faster is to increase the payments to principle. (which is exactly what these heloc schemes do). There is no way to pay it off in 7-10 years at $1000 per month. PERIOD.

Or prove me wrong... here is your chance. If you don't come up with anything more that CMG's sales pitch you just sound like another salesman of theirs.

Real people want real numbers... not sales rhetoric.

Have a good day!

Well, this IS fun!

Howie -- Isn't it odd that the Moderator thinks I was talking to him, when my post is clearly addressed to you? It is your loan, right?

Howie -- Since you own the product, you ought to update us periodically. As I mentioned previously, some of us would love to know your progress.

Howie -- I like your style.

livinginnky:

I belive you correct on the MMA. I have a hard time swallowing the mma ptich no change in spending habits. The math runs on $1,000 a month discretionary cash flow (who has that). The change in spending habits is, you are sending the money to the 1st through the HELOC. So where as before your discretionary built up in checking, it now reduces HELOC and then you pay down the first. So, the only real value I see, is if the software shows you when to pay on your first where as before you wouldn't have done so, then there is value.

Secondly, I like the idea of having a HELOC because of liquidity, that's about it.

Now, if you take a client that is saddled with debt, and can turn the cash flow they WERE spending on debt and turn it towards either investments or acceleration and maintain some liquidity to the invested funds, then you have something powerful.

In a nuthshell, if a borrower has hardly and debt and discretionary, I have a problem with acceleration... Unless THEY want it. I believe it far superior to place discretionary into outside investments that exceed the net cost of servicing debt on a home.

That's all for now

Chuck,

I'm with you; Eric has not proven anything and keeps confusing the MMA with CMG's HOA. Although they have a very similar concept, CMGs product is certainly enhanced with features that make it superior to any other loan out there.
And why does he keep saying that CMG's Heloc costs the customer a lot of money? Closing costs and interest are part of every loan.

It is legit. It is working for thousands of American's family.Come on board and be out of debt and as well help your clients to be out of debt.It is BIG.
"www.MortgagePlan-B.com"

[Email address deactivated as per forum rules. Thanks.]

After surfing the topics I am now aware of the posts and have seen some of the comments. Actually I understand a lot of the comments that talk against the program. Myself, I expect it. This is a mental and practical paradigm shift of how we manage our finances and homeownership. So naturally you would come accross resistance. It takes a paradigm shift to change. When the shift goes against the "norm", even when changing for the better or the change has potential to change the world, it is poeple human nature to reisist. The same thing happen when the microwave was introduced. The same thing happened when Mr. Bell introduced the original telephone and it happened again with the cell phone. All you heard was "why in the world would people want to carry a cell phone and be reachable at all times?" or "who needs a microwave - it will take away from family dinner time and the joy of cooking".

Interestingly all the negative comments I read came from people whom have not experienced the program. In my opinion you have to experience something before intelligently speaking on it. Mark my words, the Money Merge Account will become as common as the microwave or telephone. Changing the fabric of America when it comes to homeownership.

By the way, I am not an employee of United First Financial. I own a financial consulting firm where I have included the Money Merge Account into my business model.

Blessings to you,

Earlvin

Hello, Especially a good day to you Mr. Matthews

I have read each and ever single post on this topic, and I understand the concept of the MMA account. Its one of the most ingenious programs out there. I am not representing the United First Financial or MMA program in any way, so please here me out.

The concept of the MMA program is quite simple. I teach my clients this every day.

1) Create a budget that insures you have more money coming in then going out.
2) "Invest" Your money to work for you.
3) Use the bank's money to pay the bank back.

The concept of interest canceling is because it it calculated on a Average Daily Balance system, you pay less then loan that on an amortization schedule. The interest on loans, vehicles, and mortgages have been pre-calculated. This is exactly why they have term lengths, interest, and pre-determined monthly payments. Credit Cards and HELOCS or Line of Credits are calculated on the Average Daily Balance. The interest is most effective when the balances are low.

From my understanding of why people are against line of credits is because people are treating them like loans. A line of credit should be treated like a credit card, for emergency purposes and to be minimized asap.

If you would like, you can challenge me on any situation you would like. I have studied for years to find the lowest possible way to pay off debts, and mortgage is no exception.

the above is referring to the above comments by livinginnky

Software to pay off mortgage sooner without paying more

Hi Shirley!

I think you are speaking about the Real estate equity accelerator software. Yes, such a software is there but lenders are not united about the usage of this software. Some prefer it while some are totally against it.

Thanks.