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  1. #609

    Re: MMA (Money Merge Account) ALERT!!

    Quote Originally Posted by JimmyDaGeek View Post
    Bravo

    Most people consider paying off their mortgage from an emotional point of view rather than a financial one. They don't want this "big debt hanging over their head" instead of making sure they contributed the maximum they can to their retirement and other saving goals. They see the mortgage payment as a large chunk of cash they will invest in future, instead of investing the discretionary income now.
    You know... until recently I would've wholeheartedly agreed. But I've really come over to the Dave Ramsey thinking (ie. "Financial Peace"). Sometimes going for the emotional value of "debt-free" is worth MORE than an investment of 10% annually.

    How many people LOSE money in their investments? How safe, really, is the stock market? Or mutual funds? Just because the long-term market has shown 10-12% increase... doesn't mean it will continue that way in the future. We're headed for a baby boom retirement wave that could change everything.

    I'm not trying to convince anybody here, but just sharing my own thoughts... and I think you should invest and pay down DEBT at the same time! Split it up... your "potential" return might not look as good on paper, but you move towards being debt free.

    Most people are not like Robert Kiyosaki and cannot leverage debt effectively. America is riddled with debt from the government (worst offender) down! We've been sold "debt" for generations. It just might be time to get out of that cycle and go for debt-free!

    How much would it take to live on when you're free-and-clear? It's a great long-term plan.
    www.betterlivingzone.com - Business portfolio

  2. #610

    Re: MMA (Money Merge Account) ALERT!!

    Quote Originally Posted by BLI View Post
    Most people are not like Robert Kiyosaki and cannot leverage debt effectively.
    Robert does not "leverage debt effectively." Robert sells books to people who want to get rich on real estate, a subject in which he has vastly overstated his success. Spend some time googling and reading up on him, he's not the real estate genius he makes himself out to be. He just got a large number of people to think he is successful, and buy his books and pay for his seminars. It's like the people selling stock market software....they figured out it's easier getting [not so smart] people to pay for advice than actually make money investing.

  3. #611

    Re: MMA (Money Merge Account) ALERT!!

    Quote Originally Posted by BLI View Post
    The bottom line is that you're paying for convenience of having a program tell you exactly what to do. For some, that might be worth the cost.
    and that flys exactly in the face of another thing you said...
    We've been sold "debt" for generations. It just might be time to get out of that cycle and go for debt-free!
    the only way to change that is to change the habit and inform yourself. Paying $3500 for something that says "pay your bills" is just another bad financial decision. If you want the debt awareness of people to change, then you need to change from the herd mentality (read: not just following prompts, but actually learning personal finance).

    Making a piss poor financial decision is not a way to end poor financial behavior, it is merely an extension of that behavior.

  4. #612

    Re: MMA (Money Merge Account) ALERT!!

    Quote Originally Posted by anthonyt2325 View Post
    Can an Excel spreadsheet calculate daily interest and average monthy interest on the HELOC balance? Will the excel spreadsheet also tell me when to make a lump sum payment so that I can maximize my interest savings?
    Funny, you ask. The interest savings is NOT maximized with MMA. I can prove that. MMA uses an initial draw from the HELOC that's too high. The optimum HELOC draw aims so the low balance during the month touches close to zero. I've watched the videos, and took numbers off UFirst's own slides to show my point. All those sophisticated algorithms, and they couldn't get the simple math right? On the other hand, I've come to find that with MMA, the numbers don't matter, this is a Faith Based Mortgage Accelerator.

  5. #613
    Join Date
    Aug 2009
    Posts
    3

    Re: MMA (Money Merge Account) ALERT!!

    As many have posted, the MMA is certainly a MLM operation and $3500 is too much to pay for it. However no one has mentioned that, if you really want to try this software, go to and it is available and a much lower cost, I think it was $499 and $99 per year after the first year. There is a trial of $67 for 60 days.

    Making extra principal payments or bi-weeekly on your own is still best choice. Putting you home on a HELOC with adjustable rates is not a good idea anyway.

  6. #614
    Join Date
    Aug 2009
    Posts
    3

    Re: MMA (Money Merge Account) ALERT!!

    the web site was left out. go to
    www.speedequity.com

  7. #615

    Re: MMA (Money Merge Account) ALERT!!

    Quote Originally Posted by gatortc View Post
    As many have posted, the MMA is certainly a MLM operation and $3500 is too much to pay for it. However no one has mentioned that, if you really want to try this software, go to and it is available and a much lower cost, I think it was $499 and $99 per year after the first year. There is a trial of $67 for 60 days.

    Making extra principal payments or bi-weeekly on your own is still best choice. Putting you home on a HELOC with adjustable rates is not a good idea anyway.
    So you think the approach is bad, but are recommending a software that uses the approach? Why not recommend the $30 website greg put together if you are doind a "low cost" alternative.

    speed equity? they should call it "lost equity." $500 lost up front, $99 a year lost in fees, plus a few bucks lost in interest.

  8. #616
    Join Date
    Aug 2009
    Posts
    3

    Re: MMA (Money Merge Account) ALERT!!

    If you like the program, I am just saying you can get the same software and run your own "MMA" from the Speed Equity site without paying $3500 up front!

    gatortc

  9. #617
    Join Date
    Mar 2008
    Posts
    239

    Re: MMA (Money Merge Account) ALERT!!

    But there is nothing to "like" about the MMA. The price is just one negative aspect among many.

    By all accounts, "Speed Equity" is just the same scam in different clothes, with a $500 initial fee and a $99 annual fee. It's like a robber giving you the option of taking $3500 from you now, or $500 now and robbing you again each year for $99....neither option is terribly appealing.

  10. #618
    Join Date
    Feb 2010
    Posts
    2

    Re: MMA (Money Merge Account) ALERT!!

    Download free spreadsheets from the Mortgage Professor.

    Don't spend your money on any of these products. Get them for free here. I highly recommend them.

    http://www.mtgprofessor.com/spreadsheets.htm

  11. #619

    Re: MMA (Money Merge Account) ALERT!!

    Is MMA defunct? The new articles on it (I have a MMA Google alert) are pretty much over. I've heard UFirst simply sold the software and they're done. No fines, no jail time, for a multimillion dollar scam.

  12. #620
    Join Date
    Oct 2008
    Posts
    35

    Re: MMA (Money Merge Account) ALERT!!

    Quote Originally Posted by JoeTaxpayer View Post
    Is MMA defunct? The new articles on it (I have a MMA Google alert) are pretty much over. I've heard UFirst simply sold the software and they're done. No fines, no jail time, for a multimillion dollar scam.
    "United First Financial" still exists to service the remaining Money Merge Accounts (especially the later varieties on automatic monthly payment plans) and support for the rebranded versions (ACTdebtfree.com, CFOsimple.us, Market America's maCapital Resources, etc.).

    But the big news is Skyler, John, Matt & Matt have started a new MLM "Worth Unlimited", just a rebranding of version 5 of the MMA. And instead of a flat fee for the program, they are charging a percentage of the "savings" for the client (0.5% to 3.0%).

  13. #621

    Re: MMA (Money Merge Account) ALERT!!

    L2G - I'm taking a moment to think about how this scam can only have gotten worse.
    First, I've read articles suggesting 40% or more of mortgage holders are under water. So, they aren't likely to get a HELOC, and if they do, the rate will be far higher than their mortgage rate.
    Next, rates in general have little room to drop. HELOCs tied to prime rate can shoot up a few percent over a month or two.
    Last, with the 30yr fixed at sub 4%, and an after tax cost at 3% or less, the logic of accelerating payments simply fails. The potential marks for these scammers should do what we've suggested for years, pay off high interest debt, high rate first, and be sure they fund their retirement accounts.

    If you'll permit me to paraphrase The Who, "meet the new scam, the same as the old scam."

  14. #622
    Join Date
    Oct 2007
    Location
    Baltimore, MD
    Posts
    96

    Re: MMA (Money Merge Account) ALERT!!

    It's 4 years since my last post. I've been wondering how all the MMAers have done.

  15. #623

    Re: MMA (Money Merge Account) ALERT!!

    Quote Originally Posted by JimmyDaGeek View Post
    It's 4 years since my last post. I've been wondering how all the MMAers have done.
    Jimmy! - You mean the thieves, the victims, or we naysayers?
    Good to see you. I still get pinged on new entries here.
    /Joe

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