Money
Merge Account system Frequently Asked Questions
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Q. What is the Money Merge Account™
system?
A. The Money Merge Account system is a powerful tool
that enables homeowners to pay off a 30-year mortgage in as
little as one-third of the time, without refinancing their existing
mortgage or increasing minimum required monthly payments. The
system incorporates the homeowners' checking and savings accounts
with an advanced line of credit (ALOC), then helps to
strategically and incrementally position their money where it provides
much more financial benefit than "sitting stagnant" in a standard
checking or savings account until it is otherwise needed. Complex
financial details programmed into the Money Merge
Account software help to better educate the homeowners and assist in
some of the greatest time and interest savings possible. This program is
not intended for all homeowners, as no one program is right for everyone.
We encourage you to get the facts before deciding if this program is
right for you.
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Q. Can I do this concept on my
own?
A.
Absolutely. The simple answer is that
anyone can attempt to do something similar on their own. The most accurate
answer is that the Money Merge Account system is an advanced tool,
specifically designed to take into account the financial variables
of individual homeowners' lives and help produce some of the
greatest interest savings possible. This complex, yet user-friendly system
records and tracks all critical financial data: the individual
homeowners' income and expenses; increases, decreases, and
out-of-the-ordinary fluctuations in spending; and many other financial
variables in their daily lives. The system helps to maximize interest
savings with each and every penny and recalculates to maximum efficiency
under this concept each and every day. It adapts and adjusts to real
life situations instead of expecting homeowners to stick to a static
plan.
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Q. Does it make sense to
move money in my regular savings account over to my Money Merge
Account system?
A.
Mathematically it can make sense. In
moving your savings into your Money Merge Account system, you can further
decrease the loan balance on which interest accrues, and
potentially decrease even further the amount of time left to pay off
your mortgage. When you need access to money you can draw money out through
your line of credit. We advise that you always seek the advice of your
licensed financial planner.
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Q. Do I make monthly payments on my
line of credit?
A.
Yes, but 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 repositioning your
income against the line of credit, the line of credit lender will credit
the monthly payment requirement and lower your daily average balance, thus
reducing interest charges. Any money that you don’t spend, that would
normally be "sitting stagnant" in your regular checking
or savings account, remains against the balance of your loan until it is
otherwise needed, further reducing interest charges. When money is
needed, it can be accessed through the line of credit.
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Q. How can homeowners pay their
mortgage off early with little to no change in lifestyle and with out
increasing minimum required monthly payments?
A.
The Money Merge Account
system and service is designed to work around the homeowners'
existing lifestyle. This system helps to provide homeowners with tools,
service and education on how to reduce both the interest and time owing on
their existing mortgage by repositioning their unused idle money, which
normally sits in their accounts along with their regular monthly
expense money against their outstanding loan balance until it is otherwise
needed. When money is needed for expenses, it can be accessed through their
line of credit. This system helps homeowners to strategically position
their money where it provides much more financial benefit than
"sitting stagnant" in a standard checking or savings account.
Because the homeowners regular expense money and the money the homeowner
normally leaves in their account is strategically repositioned against the
balance on their line of credit until it is otherwise needed, the homeowner
is in reality reducing the time and interest owing on their mortgage
without requiring them to change their lifestyle. Because of how the Money
Merge Account system works, homeowners now utilize their unused idle money
and expense money to help reduce interest charges on their line of credit
until it is otherwise needed, without increasing their minimum required
monthly payment. Intricate financial details programmed into the Money
Merge Account software help to better educate homeowners and assist in some
of the greatest time and interest savings 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 Money Merge Account Program uses the equity
line of credit solely as a vehicle or a tool to drive the program.
The system is coordinated through Web-based software created by United
First Financial and works independently of the lender. The equity line
of credit must have the capacity to operate as a primary checking
account and be set up with an open-end interest calculation rather
than a closed-end interest calculation. Combined with the Money Merge
Account software and service, this creates a system in which the money
in your line of credit account generates an interest cancellation on your
primary mortgage, while the unused money that normally would be sitting
"stagnant" in your checking and/or savings account generates an
interest cancellation on your line of credit, until otherwise needed.
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Q. Do I have to change banks?
A. No. It is not necessary to change banks. After
signing up for the program, we have a customer support team that will
assist you in coordinating your banking needs with your Money Merge Account
system.
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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 prompts of your
online Money Merge Account system. You make all decisions and you
are in complete control of your money.
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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 repositioned against 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 do most banks not offer
this type of program?
A. The Money Merge Account system is based
on banking principles that are accepted by most banks across the
nation. The system simply provides you with the necessary tools and
education to better use your money to reduce interest, instead of the bank
using your money to earn interest. We believe that this is one of the
reasons that most banks do not offer this type of program.
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Q. Can I contact any of your client
references to hear about their experiences with the Money Merge Account
system?
A. Due to privacy regulations, we are unable to
provide personal contact information for references. However, you can view
actual clients using the Money Merge Account system on
our 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 Money Merge Account system follows your
mortgage until it is paid off. Once you have sold your home and
purchased another residence, we can put the Money Merge Account
system back into action on the new residence. Also, all the
equity built in the account, as well as the equity built with market
appreciation, willn 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 on your "Final Analysis"
at the outset of the program. Only homeowners who qualify to
significantly reduce their mortgage payoff time and interest,
however, will be activated on the Money Merge Account system. Be
advised, this system does not release homeowners from their
obligation to make their regular minimum monthly loan payments.
This program is not for everyone, as no program is right for everyone.
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Q. Can anybody qualify for the Money
Merge Account system?
A. It is important to go through a brief questionnaire
when applying for the Money Merge Account system. Fortunately, there are
several avenues that can be taken to gain approval or tailor the program to
work for your specific situation, but the Money Merge Account system is not
for everyone.
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Q. Do I have to refinance my
existing mortgage to make this work?
A. No. It is not necessary to refinance your existing
mortgage. You may choose to refinance your mortgage for additional interest
savings but refinancing your existing mortgage is not required for
the Money Merge Account system 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 the Money Merge Account
system work with an interest-only or negative
amortization payment on my primary mortgage?
A. It can, as long as the homeowners' information
qualifies. The Money Merge Account system helps qualified
homeowners to take control of the outcome of these types of loans with much
greater understanding.
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Q. Can I own multiple investment
properties at one time and use just one Money Merge Account
system, or do I need one for each property?
A. The Money Merge Account system 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.
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Q. Is this program right for all
people?
A.
No, as many different programs are right
for some and not right for others. This program helps to provide tools,
education, convenience and insight to homeowners who are looking for
additional support and education on how to pay their home off quickly.
Among other options, homeowners can choose to pay their mortgage off ahead
of their standard schedule by adding additional money to each
regularly scheduled monthly payment.
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Q. Does United First Financial give
investment, mortgage, real estate, or financial advice?
A. No, United First Financial does not provide
investment, mortgage, real estate or financial advice.
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Q. Does the Money Merge Account
system create money in addition to my regular income to help pay down debt?
A.
No, the Money Merge Account does not
create money "out of thin air." It is a proven system
that uses existing banking tools, financial strategies and education
to assist homeowners in saving interest and paying off debt at an
accelerated rate. This system helps homeowners reduce the interest and time
owing on their existing mortgage by repositioning their unused idle money,
which normally sits in their accounts with their regular monthly
expense money until it is otherwise needed to pay expenses. When money is
needed for expenses, it can be accessed through their line of credit. This
system helps to maximize interest savings with each and every penny and
recalculates to maximum efficiency under this concept each and every day.
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Q. Is the Money Merge Account system
the only option that can effectively help to pay my mortgage off ahead
of schedule?
A.
There are many different options for
homeowners to pay their mortgages off early. Homeowners using this system
have stated that the Money Merge Account system is one of the best ways
they have seen to pay their mortgage off early while gaining a much more
robust understanding of the operation of their household finances.
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Q. Does the Money Merge Account
system take into account if I am paid on a monthly, semi-monthly,
weekly or bi-weekly basis?
A.
Yes. Individual homeowners' pay schedules
such as monthly, semi-monthly, weekly, and bi-weekly are taken into
account. The Money Merge Account system is programmed to take different pay
schedules into account to operate at maximum efficiency. Whether you are
paid 12, 24, 26, or 52 times a year, this system takes your
specific pay schedule into account. This enables homeowners to benefit to
their optimum potential under this concept while always maintaining
complete and total control over their money and financial decisions.
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Q. Does the Money Merge Account
system fix my financial problems?
A.
There is no magic trick or secret type of
loan that will let you own your home sooner. The Money Merge Account
system is not a cure, it's a tool. This system will only assist
qualified homeowners in paying down their mortgage debt at an accelerated
pace if they properly use the Money Merge Account system and service
the way it is intended to be used.
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Q. If I spend more than I make, will
the Money Merge Account system work for me?
A. No. If you do not make more than you spend, the Money Merge Account
system is not the right option for you.
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Q. Should I stop putting money in my
investments or transfer money from an account into my Money Merge Account
system?
A. United First Financial does not provide financial
or investment advice. Please consult your licensed financial planner.
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Q. Is customer support important in
properly implementing this system? And if so, what kind of customer support
do I receive as a client?
A. Proper customer support is key
in gaining the greatest possible savings with the Money Merge Account
system. While the system software is very user friendly, the lifetime
customer support which comes with each new program
activation is equally as valuable in achieving the greatest time and
interest savings possible. There are many interest-saving features built
into the program and our client support personnel are highly trained in
providing the homeowner with the greatest possible education and
instruction under this system.
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Q. How can a higher interest line of
credit help to pay off my lower interest first mortgage? Can you give me
more information on the workings of this program?
A.
When repaying a mortgage, it's not the
rate you pay that's most important. What matters most is the total amount
of interest you pay over the term of your loan. With the Money Merge
Account system you use your line of credit to reduce the balance owing on
your primary mortgage, and you reposition your regular income and your
unused “stagnant” money you normally leave sitting in your regular checking
and/or savings account to reduce the balance owing on your line of credit.
By repositioning your regular income and your unused “stagnant” money you
normally leave sitting in your regular checking and/or savings account, you
are able to keep your line of credit balance as low as possible, which can
significantly reduce the interest that would normally be charged on the
line of credit. This means more of your regular payment goes
towards your principal balance each month, helping you repay your mortgage
ahead of your standard mortgage schedule. The online software system and
customer service provide helpful guidance as to the specific transfer
amounts and timing that is needed to provide each individual homeowner with
the best interest savings possible under this system. Optimum interest
savings under this system is a delicate balance between your primary
mortgage, your line of credit, your income, expenses, transfers, etc. If
you transfer too much to your primary mortgage, it can cost you more
interest on your line of credit. If you transfer too little, it can cost
you "lost" interest savings on your primary mortgage. This system
helps homeowners to reduce both the interest and time owing on their
existing mortgage by strategically positioning their money where it can
provide much more financial benefit than "sitting stagnant" in a
standard checking or savings account. Also, unspent "stagnant"
money left against the balance of the loan that homeowners would normally
leave in their checking and/or savings account is now working for them 24
hours a day without requiring them to change their lifestyle. When you
need money for expenses, you can access it through your line of
credit. Intricate financial features and details programmed into
the Money Merge Account software help to better educate the
homeowner and assist in the greatest time and interest savings possible
under this concept.
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Q. What is the secret behind the
Money Merge Account system?
A.
There is no magic trick or secret type of loan
or system that will let you own your home sooner. With the Money Merge
Account system, substantial savings are achieved by strategically and
incrementally repositioning the unused money that you usually have “sitting
stagnant” in a standard checking or savings account against the principal
balance owing on your home until otherwise needed, without increasing your
minimum required monthly mortgage payments. When you need access to
money, you can draw money out through your line of credit. Because much of the
savings of this program comes from homeowners repositioning the unused
money that they normally do not spend and leave sitting in their
standard checking or savings account, little to no lifestyle changes are
needed. Many of the educational features in the Money Merge Account
software help homeowners to better see the cause and effect of the money
they spend and the money they don’t spend. Many of the features programmed
into the Money Merge Account software are based on what is called
Behavioral Economics. The definition of Behavioral Economics is: A field of
economics that studies how the actual decision-making process influences
the decisions that are reached.
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Q. Is this a good program if I
overspend on a regular basis?
A.
While the Money Merge
Account software and service does have the ability to educate homeowners on
many of the “cause and effect” situations prior to spending money, if you
have a tendency to overspend on a regular basis, this program is not the
right program for you.
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