Q.
What is the Money Merge Account?
A. The Money Merge Account ™ software 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.
Q.
Why can't I make extra principal payments to my primary mortgage
and achieve the same results?
A. Simply put, the mathematics behind
Money Merge Account software present a sophisticated process that has a substantial financial
benefit over increasing your monthly payments. The algorithms
in the proprietary Money Merge Account software system are systematically programmed to
create the highest interest savings possible in the least amount
of time. The math engines programmed in the Money Merge Account software system calculate
the specific timing and dollar amounts required to produce the
most optimum savings possible.
Q.
Does it make sense to move my savings accounts over to Money Merge Account software ?
A. Yes, in moving your savings into
your Money Merge Account software 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.
Q.
Do I make monthly payments on my line of credit?
A. Not in the traditional sense.
You will use your line of credit similar 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.
Q.
If I am not increasing the monthly payments on my mortgage, how
can this program be possible?
A. The Money Merge Account software 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 Money Merge Account software system determines the
specific timing and amounts for each transfer required to produce
the quickest pay off time and highest interest savings possible.
There are also multiple financial options programmed into the
Money Merge Account software software, which assist homeowners in paying down their mortgage
as soon as possible.
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 software Program uses the equity
line of credit solely as a vehicle or a tool to drive the program.
The Money Merge Account software system is coordinated through systems created by United
First Financial and works completely independent 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 vs. a closed-end interest calculation. Combined with
the Money Merge Account software 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.
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 Money Merge Account software program.
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 Money Merge Account software account. You will be in complete
control.
Q.
Do you have access to or control of my money?
A. No. You are the only person with
access to your accounts.
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 on 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 much less.
Q.
Why don't the banks offer this program?
A. The Money Merge Account software utilizes banking principles
that are accepted by most banks across the nation. The Money Merge Account software 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
Money Merge Account software program.
Q.
Can I contact any of your client references to hear about their
experiences with Money Merge Account software ?
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 software program on
our Money Merge Account software informational DVD and you are welcome to research our
company through the Better Business Bureau web site at www.bbb.org
Q.
What happens if I sell my home?
A. The Money Merge Account software program follows your mortgage
until it is paid off. The line of credit the Money Merge Account software 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 Money Merge Account software 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.
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. Only
homeowners that qualify to significantly reduce their mortgage
payoff time and interest will be activated on the Money Merge Account software program.
Q.
Can anybody qualify for the Money Merge Account software ?
A. It is important to go through
a quick 5-minute questionnaire when applying for the Money Merge Account software program.
Fortunately, there are several avenues that can be taken to gain
approval, but the Money Merge Account software program is not for everybody.
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
existing mortgage loan is not required for the Money Merge Account software to work. If
you do not currently have a specific line of credit one will need
to be opened.
Q.
Will Money Merge Account software work with an interest only/Neg-Am payment on my primary
mortgage?
A. Yes. In fact, Money Merge Account software helps you to
take control of the outcome of these types of loans to benefit
you substantially.
Q.
Can I own multiple investment properties at one time and utilize
just one Money Merge Account software program, or do I need one for each property?
A. The Money Merge Account software 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.
