1. Your Existing Primary mortgage
The existing mortgage
on your home is the foundation for the Money Merge Account.
2. An Advanced
Line of Credit (ALOC)
The MMA Program uses an advanced equity line of
credit as a vehicle or a tool to drive the program. The equity line of
credit must have the capacity to operate similarly to a primary checking
account and be set up with an open-end interest calculation (rather than a
closed-end interest calculation). Combined with the MMA's web-based
system, this creates a formula in which the money in your line of credit
account generates an interest cancellation on your primary mortgage.
3. MMA software
The online MMA system makes a connection between
your bank account, the advanced line of credit, and your primary mortgage.
Each time you deposit
income into your
account, it registers as a decrease to your mortgage balance. By
decreasing your mortgage balance, you now lower the balance on which
interest accrues. By decreasing the balance on which interest accrues, you
increase the portion of your monthly
payment which is
credited toward your principal pay down. The algorithms in the proprietary
MMA system are systematically programmed to create the highest interest
savings possible in the least amount of time.
5
Easy Steps