Q. What is the Money Merge Account?
Q. Why can’t I make extra principal payments to my primary mortgage
and achieve the same results?
Q. Does it make sense to move my savings accounts over to MMA?
Q. Do I make monthly payments on my line of credit?
Q. If I am not increasing the monthly payments on my mortgage, how
can this program be possible?
Q. Why am I applying for a line of credit, and how is it associated
with my savings and checking accounts?
Q. Do I have to change banks?
Q. Do you make payments for me?
Q. Do you have access to or control of my money?
Q. Do I pay interest on the equity line of credit?
Q. Why don’t the banks offer this program?
Q. Can I contact any of your client references to hear about their
experiences with MMA?
Q. What happens if I sell my home?
Q. Is there any risk involved?
Q. Can anybody qualify for the MMA?
Q. Do I have to refinance my existing mortgage loan to make this
work?
Q. Will MMA work with an interest only or negative amortization
payment on my primary mortgage?
Q. Can I own multiple investment properties at one time and utilize
just one MMA program, or do I need one for each property?
Q. What is the
Money Merge Account?
The Money Merge Account is an online
account system that incorporates your checking and savings accounts
with an advanced line of credit, or ALOC. Through this program,
homeowners have the ability to pay off their 30- year mortgage in as
little as one-third of the time, without
refinancing
their existing mortgage loan or increasing minimum monthly
payments.
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Q. Why can’t I
make extra principal payments to my primary mortgage and achieve the
same results?
A. Simply put, the mathematics behind
MMA present a sophisticated process that has a substantial financial
benefit over increasing your monthly payments. The algorithms in the
proprietary MMA system are systematically programmed to create the
highest interest savings possible in the least amount of time. The
math engines programmed in the MMA system calculate the specific
timing and dollar amounts required to produce the most optimum
savings on each individual mortgage and overall financial situation.
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Q. Does it make
sense to move my savings accounts over to MMA?
A. Yes, in moving your savings into your
MMA account, you decrease even further the amount of time left to
pay off your mortgage. Your customized online site has the ability
to build a variety of financial models to help you understand the
effect that the money in your savings account will have in
decreasing the amount of time it will take you to pay off your
mortgage.
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Q. Do I make
monthly payments on my line of credit?
A. Not in the traditional sense. You
will use your line of credit similarly to your primary checking
account. Your paychecks will be applied to your line of credit and
your monthly bills will be paid from the account. By transferring
your income each pay period, the line of credit lender will credit
the monthly payment requirement and lower your daily average
balance, thus reducing interest charges.
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Q. If I am not
increasing the monthly payments on my mortgage, how can this program
be possible?
A. The MMA system makes a connection
between your bank account, the advanced line of credit, and your
primary mortgage. Each time you transfer income into your account,
it registers as a decrease to your mortgage balance. By decreasing
your mortgage balance, you now lower the balance in which interest
accrues. By decreasing the balance in which interest accrues, you
increase the portion of your monthly payment which is credited
toward your principal pay down. The MMA system determines the
specific timing and amounts for each transfer required to produce
the quickest payoff time and highest interest savings possible.
There are also multiple financial options programmed into the MMA
software which assist homeowners in paying down their mortgage as
soon as possible.
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Q. Why am I
applying for a line of credit, and how is it associated with my
savings and checking accounts?
A. The MMA Program uses the equity line
of credit solely as a vehicle or a tool to drive the program. The
MMA system is coordinated through systems created by United First
Financial and works independently of the lender. The equity line of
credit must have the capacity to operate similar 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
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.
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Q. Do I have to
change banks?
A. It is not necessary to change banks.
After signing up for the program, we have a customer support team
that will assist you in orchestrating your banking needs with your
MMA program.
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Q. Do you make
payments for me?
A. No. We do not have any access to your
accounts. You will be initiating all transactions by following the
prompting of your online MMA account. You will be in complete
control.
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Q. Do you have
access to or control of my money?
A. No. You are the only person with
access to your accounts.
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Q. Do I pay
interest on the equity line of credit?
A. There is interest charged on the line
of credit.But because your income is sent to your line of credit in
different intervals, the bank adjusts the amount of interest they
can charge you by offsetting the average loan balance. As a result,
the interest charged is greatly lessened.
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Q. Why don’t the
banks offer this program?
A. The MMA utilizes banking principles
that are accepted by most banks across the nation. The MMA program
simply provides you with the necessary tools to use your money to
reduce interest, instead of the bank using your money to earn
interest. This is the primary reason the banks do not offer the MMA
program.
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Q. Can I contact
any of your client references to hear about their experiences with
MMA?
A. Due to privacy regulations, we are
unable to provide personal contact information for references.
However, you can view actual clients using the MMA program on our
MMA informational DVD and you are welcome to research our company
through the Better Business Bureau web site at www.bbb.org
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Q. What happens
if I sell my home?
A. The MMA program follows your mortgage
until it is paid off. The line of credit the MMA uses will have no
effect on your ability to sell your home. Once you have sold your
home and purchased another residence, we can put the MMA back into
action on the new residence. Also, all the equity built in the
account, as well as the equity built with market appreciation, will
make a great down payment on the next purchase.
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Q. Is there any
risk involved?
A. From a financial standpoint, there is
very little risk. No stock market crash or extreme interest
fluctuation can completely eradicate the expected outcome. If your
numbers remain the same, we guarantee the results given at the
outset of the program. Only homeowners that qualify to significantly
reduce their mortgage payoff time and interest, however, will be
activated on the MMA program.
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Q. Can anybody
qualify for the MMA?
A. It is important to go through a brief
questionnaire when applying for the MMA program. Fortunately, there
are several avenues that can be taken to gain approval or tailor the
program to work for your specific situation, but the MMA program is
not for everybody.
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Q. Do I have to
refinance my existing mortgage loan to make this work?
A. No. It is not necessary to refinance
your existing mortgage loan. You may choose to refinance your
mortgage for additional interest savings but refinancing your
existig mortgage loan is not required for the MMA to work. If you do
not currently have a specific line of credit one will need to be
opened.
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Q. Will MMA work
with an interest only or negative amortization payment on my primary
mortgage?
A. Yes. In fact, MMA helps you to take
control of the outcome of these types of loans to benefit you
substantially.
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Q. Can I own
multiple investment properties at one time and utilize just one MMA
program, or do I need one for each property?
A. The MMA is most effective when used
to payoff one property at a time. As each property is paid off, your
overall discretionary income can increase; creating an accelerated
payoff period for each subsequent property.
