MMA on the News Accelerated mortgage payoff

[FutureReport]

If you'd like to see how well the MMA can work for your mortgage based on your individual finances, send me an email at neanja@lycos.

The report does not require sensitive information and its free.

[truefunnel]

Obviously you are uneducated. If the program was a fraud would it have gotten the covers of 4 major financial magazines? Also...would Forbes be currently working on a story as well as the Wall Street Journal. You may be right in the fact that the program is not for you but what about the other 98% of our country? If the US didn't need this pgm would we have a -3%savings rate? Think about it....

[cphansen]

Finally, a mention of UFF in a serious financial publication. From the May 2008 issue of Kiplinger's Magazine:

Don't Fall for This Mortgage Pitch

"With or without expensive software, the fact is that the more discretionary income you can commit to prepayment, the quicker the mortgage becomes history. We suggest you keep your $3,500 and do it yourself without having to fend off a pushy salesperson."

[ataligamal1]

best - ptc . about . tc

delete space*

[cphansen]

Another fake news report. Search "United First Financial" in Google and in particular, the threads at Fatwallet include mathematical analysis that shows this MMA is nothing but a shell game. You will pay off your mortgage, but no faster than if you saved your $3500 and applied all extra income against your mortgage. It's that simple.

Also, the UFF agent commission is $2500 of the $3500 cost.

[1Longshadow]

Ok, lets look at your way and just guess at what we should do... Throw extra money at our home (If we have it?) wonder what it will do for us... still keep our emergancy fund in our saving and not working for us 24/7, hope that there will be social securty left when we retire.....and the list goes on... Financail IQ = those who know interest earn it, those who don't pay it! Let me know if you want more info.

[1Longshadow]

One more thing to look at....$3500 is an investment not an expense! I personally will save over $130,000, be debt free in under 8 years and retire (Job dropping income) at 51. The sydney financial group system debtfree dot com is by far a better system. Financial coaching, software orientation, help with your credit or loans, free website and be part of the biggest team at Wexl. we XL that is! debtfree dot com

[cphansen]

The $3500 is exactly an expense. You are going to pocket it and provide dubious software for it, not pay interest to your client. The $3500 is lost.

Now, about your claims - back them up. I need the money movements you will make to "save over $130,000, be debt free in under 8 years and retire". Not a summary - a detailed list of transactions. Even for the first year.

[womencarswatches]

im not a user of the program. but this isnt a fake news report. this is a real news program out of las vegas. just google jim snyder.

[1Longshadow]

Wow, those stories below could make someone very concerned. I will simple tell you waht I was ablt to do and let you judge for yourself. Cash out my 401k that was making maybe 1.2% anuualy, made to schuled payments using Sydneys MCA and I have cut 17 years off my Mortgage! Ive been on this program for 6 months and now with the saving EARLY RETIREMENT IS IN SITE! thats right. I have totally checked this out, been to there corp office and I am willing to help anyone that has questions. contact me.

[jnsncn]

To follow up with the topic of lenders freezing HELOC's my research finds that there have been situations in which an existing HELOC was frozen. BUT the only lender I found that froze an acct was COUNTRY WIDE and they took such action do to thier (the lenders) financial problems. If you want a great lender who provides great service contact me

[nobodybidness]

You lose because the way this works is to keep the money you would be keeping in your checking account in a line of credit instead. Lines are getting frozen right when paychecks go in them. You can't get that money out. If you wrote checks against it, they bounce. Your line of credit is not a bank account and shouldn't be treated as one.

[scott4byu]

Thanks for your comments. I never would have thought my credit line could be frozen. The program operates ( for me) at the 3 to 6 K range. A freeze in my LOC would be a minor setback. I can easily get a revolving loan for that amount. I also know a lot of people in the banking and mortgage industry. I will be asking around to see what the future holds for the local banks.

[nobodybidness]

Nice to have intelligent conversation! Keep in mind, I cast no dispersions on the price or intent of the product, nor its marketing program. I believe the reps have good intentions and are excited. But lines of credit leave the bank in charge, effecively letting them grab your checking account at any time. Clients are at the mercy of the credit crunch. I have been in banking/finance for 20 years. Don't depend on your ability to get another line or loan. They go away. So do the bankers.

[scott4byu]

You can't,the headway you gained is yours. We will gain 5 years in the first year. I know they are out there but I have not seen a negative post from someone using the program. Yes, I may be foolish but my home will be paid in 11.2 years and I will foolishly burn the remainder of my mortgage book with a foolish grin.

[nobodybidness]

The woman who introduced this to me just had her line of credit frozen by Indymac, one of the largest HELOC providers, despite her 700+ credit scroe. They froze it for declining values. Another friend of hers just had her Wells Fargo HELOC frozen for the same reason, right after she paid $20k into her HELOC. Now she can't get that money for her bills, and is trying to refi to save her credit. There goes her headway! Your line of credit isn't a bank account. Don't use it like one.

[jnsncn]

I want to hear an opion from somebody who actually used an MMA?

[scott4byu]

I use it! I know 7 other people who use it and we all love it. I went through my heloc agreement with the vice president of our local bank and they said they would never call our loan if I was alive and made the payments. what is a real SCAM is that the bank makes me pay for two+ homes.

[nobodybidness]

THIS IS VERY RISKY.

This program uses a revolving line of credit to pay off a part of your existing mortgage, then keeps you checking account in the line of credit instead of in the bank account.  The line of credit becomes your checking account. The problem is that LINES OF CREDIT CAN BE CALLED IN OR FROZEN at any time by the issuing bank. The most often do this as Indymac did today in Las Vegas, when VALUES ARE DECLINING.

NEVER KEEP YOUR MONEY IN A LINE OF CREDIT! IT CAN BE FROZEN!

[ebloomy]

"This is because the line of credit can be called in at any time by the bank."

What?! Are you kidding?

What about the contract that states a 5,10, or 15 year draw time?

Can they "call" your 1st mortgage at any time as well and demand payment for the remaining balance?

[nobodybidness]

No, I'm not kidding. I have developed these lines of credit for 20 years. Read your line of credit agreement. The draw time can be forever, it doesn't matter. The renewal 6 mos or one year in 90% of cases, which is when the call is. But the line can be FROZEN even without being at an anniversary date, and without cause.

NEVER PUT MONEY YOU NEED TO PAY BILLS INTO A LINE OF CREDIT.

[nobodybidness]

No, I'm not kidding. I have developed lines of credit for financial institutions for over 20 years.

Typical first mortgages are not lines of credit, and therefore are not callable.

The Austalian mortgage system is not the same at all, and does not carry the risk of the line of credit being called.

NEVER PUT MONEY TO PAY BILLS INTO A LINE OF CREDIT.

[PlanningYourFuture]

Spoken like a person in the mortgage business who gets paid an obscene amount of money to fill out some paperwork. If you are a financial adviser, you need to educate your client and advising them to pay as little interest as possible instead of just keep paying the banks for 30 years. BTW, you have a vested interest in selling a mortgage don't you? In fact, you want to refinance as many times as possible so you get paid more and more obscene amounts of commission.

[karmicdejavoodoo]

As for the "Missed Fortune" mindset people. All the Money Merge Account does is get you a lower EFFECTIVE interest rate for your mortgage. If you are into strategic equity leveraging... what would you rather do... leverage equity you paid 6% for... or that you paid 3% for? See the article in MORTGAGE PLANNER magazine (by the Strategic Equity folks) this month Jan/Feb about United First Financial.

[karmicdejavoodoo]

Actually I am not bashing Dave Ramsey... but all the comments I have heard him make... he was confusing United First with something else. He has not actually looked at this program... and NONE of his callers have gotten "into trouble" using United First (they got into trouble BEFORE and all on their own). This is why UFirst has ZERO complaints in the BBB.

[corvettedude346]

This program is not for EVERYONE, you do need a little financial responsibility for it to work (the reason I imagine Dave Ramsey is not backing it, have you heard the messes most of his caller have gotten into)

[comyfordd]

I think he paid $3500 so he could use the UFirst softwere program to get his new home paid for in less than 5 years using just his daily tip money. I talked to a waitress and she is using it too but she said it is taking her 7 or 8 years instead of 27.

[EdZep123]

I still don't understand why he needs a piece of software for $3500. These guys must be laughing all the way to the bank. Just overpay the principal sum! Unless mortgages are so much different in the US than to here in the UK, which I doubt!

[mjscribber]

i am doing the program........checked it out with my lawyer first!!! but this is working for me 3500 is a small price to pay your home off early. i love this it is allowing me to have a better life!!!!! :)

[mortgageplanforlife]

But what is the alternative? Pay cash? Let me ask you this question if you had $200k would you be better off paying cash for a home or financing the home at 6% and investing your cash at 8 or 9 or even 10%?? (Go look up the top 50 mutual funds returns over a 10 or 15 year period)

[karmicdejavoodoo]

Yes... but his software is only a spreadsheet program. The United First software is based on 22 pages of math algorithms. United First has a spreadsheet type software too... it is used (for free) to show clients their projected results before they make the decision to buy. Contact agents for both companies... get all the facts... then make your decision. I know which way I went (UFF!!!)

[pbl1]

is this real news or an infomercial? why borrow money at 10% (HELOC) to pay off a loan at 5-6%???

[karmicdejavoodoo]

It was a real news story. I wondered the same thing. An agent can explain why using a 10% heloc will save you interest paying down a 6% mortgage. They are not apples-apples loan instruments. One is REVOLVING the other amortized. Google United First Financial and the city of Orlando... good agent there - she knows the math and can explain it.

[PlanningYourFuture]

A lot of people think they have a 6% interest rate, but their effective rate is a lot more. In fact, if you refinance or sell your home in the five years, which is average over the past few years, you will pay over 90% effective interest rate. Don't be fooled by the interest rate of your loan. Your payment is based upon the rate. It is not the effective interest rate. If you know that your interest rate if nearly 100%, would you want to pay off your mortgage ASAP?

[tyrell92]

How do i sign up. I would love to pay the rest of my mortgage off. got 157,000 left to pay.

[FutureReport]

The parent company for this financial program is United First Financial (unitedfirstfinancial com) There are more videos on that site that explain how it works.

[Rikko7]

Do you know which channel reported this?

Great Video ThanX

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[surecash]

You wish it was a scam! Perhaps you don't know that there is a LIFETIME money back guarantee. Yeah, you read that right.

You can get the sports car and yacht with the HUGE interest savings!

[vietkutay]

it works and mine is paid off but you have to have equity to play, if not then its not for you. all the money you make goes toward the principle and the bills you pay each month comes from your line of credit. Which the money you deposit each month pays for that balance too. When the house was paid off the balance of my house and the line of credit was both $0.

[FutureReport]

The real test of a program is not speculation from outsiders - but how the consumers are progressing. I've heard from dozens of people personally using the program that its the best thing that has happened in their lives - they're paying off their debts, becoming free.

The company has a guaranty. Check with the Better Business Bureau if you're concerned - Ufirst has an exceptional record of happy clients. Exceptional.

Its a good program.

[BarbieWhe]

Ok, you have an opinion. I'm working with the system you're obviously not.

I'm not here to argue/get you to change your mind. I only wanted to offer my assistance to if you had not had the opportunity to run the numbers. If you viewed the video, you'd see this is being posted by the "Saving your money team" and 3 of them have been using this software since February. They ran the test.

They tell you to do your homework & beware of preditory lenders. It's not for you.

[fuzzy828]

Thanks for the tip. I guess you are paying over mortgage with no extra money in less time. I love 'Armchair' Qbs. Good luck in your future.

[BoredNL]

No, I'm just concerned citizen. You are an unconcerned citizen.

[BarbieWhe]

Yeh, I thought the same thing when I first saw it. I figured I could make my own "extra" payments. The truth about this software is it tells you to the penny how much to move to the 1st mortgage and the date to make the payment.

There is also a test area where you can chose to do a what if? You see what the purchase really cost.

And, you can make an educated decision of whether to spend you money on something or your mortgage.

[BoredNL]

Run numbers on a $200,000 loan at 6% with $1,000 discretionary income a month. Take the figure of interest paid and add it to the $200,000, then divide by the months it took to pay. You will notice that in order to pay it off in that time, the person would've had to pay over $10,000 extra on top of the discretionary income.

[BarbieWhe]

BoredNL, It looks to me what you are trying to do is take a 30 year mortgage and figure out the total cost for interest you would pay if you paid the total amount. The point here is you once you pay off the principle the interest charges stop- that is where the thousands and thousands of dollars is saved.

[BoredNL]

Just pay to principal to save "hundreds of thousands." Why pay $3,500 for the program?

pfft, nonsense.

[BarbieWhe]

The problem with that is people have good intentions. But, this has been tested with real people and the fact is they don't follow through like the people who use the software and actually enter in the numbers before they make a purchase.

The $3500 is included in the HELOC and is quickly paid off. If you are hung up on paying $3500 or saving $135,000, that's a no brainer for most people. I feel you haven't really had a free analysis & that is what you need. It's really not for everyone.

[BoredNL]

$3,500 is $3,500 is $3,500. Yes, people pay that amount, even if they do pay it off through a loan.

I personally know someone who is a representative for this company and I have had correspondence with several other "representatives." I have had the numbers run and checked several times.

[fuzzy828]

I am going to save 100 k off my interest and cut my mortgage from 17.7 years to 9.5 years.

I can tell you that I know someone who is cutting his mortgagae from 30 years to 5.6 years.

If you are a skeptic, that is understandable. I guess you are a millionaire who is smarter than the average bear.

[markniteguy]

Not sure about this programe!. I found many useful articles on ePrimerate dot com which also help with the similar topics.

[surecash]

If you own your house (or mortgage holder does) get with the MMA program and save yourself an absolutely fortune in interest.

I looked everywhere and there is nothing like this program out there. You spend 10 minutes a month on it and that's a FACT.

I am passionate about helping others and when I come across people knocking this program I want to barf, and I'm not talking about you.

[dakutiusmaximus]

I lve all you naysayers who already knw this is a scam w/out havng actully tken an open mnded look b4 mking yr pronouncmnt.

If thre ws an internt arnd in Columbus' tme or the Wright Brothers, you wuld be psting tht the erth is flat and man cld nver fly.

There's a thing called progress and its passing you by.

Yeah, I knw it sunds too good to be true. So did the thoery of a round earth and flying machines when they were new.

[karmicdejavoodoo]

Here is an example of how well this works...

Client has $200,000 30yr mortgage @ 6% and Heloc at 9%

$5000 a month in income BUT $0 discretionary - NO money left over at month end. Using this program they will pay off in 16.7 years, have an EFFECTIVE interest rate for heloc and mortgage of 3.3% and save $121,050 in interest.

Now... could you do THAT on your own?

>>> By the way.. these numbers INCLUDE the cost of the program... which is not out-of pocket,

[karmicdejavoodoo]

When you treat the helocs properly (like a checking account) you end up with a lower EFFECTIVE interest rate than your mortgage, as helocs are calculated on average daily balance.

You borrow $1 at 10% interest... is that really 10%. No... that is a yearly interest rate. What if you pay that dollar back in 3 months or less? Now you have paid less than 3 cents in interest ... less than a 3% EFFECTIVE interest rate.

[dribble17]

Your PhD muMy PhD apparently didn't help you understand how this program works. Paying extra is only half of the plan and it's entirely optional. The program still works without paying extra. The larger benefit is gained by using your income to offset debts thereby canceling interest. In doing so, you jump ahead on your amortization schedule and skip thousands worth of scheduled interest payments. Furthermore, many no-cost HELOCs are available so there's no out of pocket cost for the program.

[karmicdejavoodoo]

As the story points out... this concept is not new... what IS new is that until now it was not easy to do the math required to optimize the program. Now United First Financial has developed a software program that makes this as easy as typing numbers in boxes. 10 minutes a month - free upgrades. Because it is so simple now - more people will benefit and build wealth.

[mjscribber]

i have just started doing the program and i love it so far i am doing alot more for myself and family plus paying dow my mortgage!!!