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  1. #1
    Join Date
    Apr 2007
    Posts
    13

    MMA United First Financial - Free Advice

    Here is how you do it for FREE. No strings attached no fancy "algorithms" just 6 VERY VERY simple steps. SAVE YOUR MONEY and don’t listen to these so called “experts”. I am just trying to help. Nothing More!

    Step One -In our example, we have a $200,000 mortgage and we make $5,000 per month. Find your positive cash flow. This is the most important step. Take all your monthly bills including your mortgage, credit cards, utilities, memberships, gas, shopping money, grocery money, etc. etc. and add them all together. Take your monthly paycheck and subtract the total monthly expenses from it. Whatever you have left over is your amount of Monthly Positive Cash Flow. The more positive cash flow you have, the more interest you will save, and the faster you will payoff your mortgage.

    Step Two - Deposit your paycheck into your mortgage. Yes, you read it correctly. Lets say you get paid your paycheck of $5,000 on January 1. Take that entire $5,000 and deposit it into your mortgage. If you didn't already know, interest accrues daily on your mortgage in the United States. Deposit the entire $5,000 into your mortgage and your new balance (in our example) will be $195,000. For the entire month, interest will accrue based on a $195,000 balance instead of $200,000. You are already saving money! Wait, how do we pay our bills?

    Step Three - Get a good credit card. Credit cards can be the death of you BUT, if used correctly, they can be a cornerstone of this whole system. The one thing credit cards do well is they will give you "free" money for up to 45 days. If you have a $100 balance and you pay it off every month, you wont accrue any interest. We are going to pay AS MANY OF OUR BILLS as possible on our credit card. Utilities, gas, shopping, tickets to the movies...everything. Let's say we have accrued $2,000 in "bills" on our credit card throughout the month of January. Now what?

    Step Four - Get a Home Equity Line of Credit. The other cornerstone behind the system is the Home Equity Line of Credit, aka a HELOC. The HELOC is a useful type of mortgage that you can get that acts like a credit card using your home as collateral. Always always get a HELOC with a ZERO balance. You will use the HELOC to payoff the credit card balance of $2,000 in FULL every month and you will also use the HELOC to pay your mortgage payment (let's say your mortgage payment is $1,000).

    Step Five - Recap time. You put your entire $5,000 paycheck into your mortgage of $200,000. Your new mortgage balance is now $195,000. You put all your $2,000 of monthly "spendings" on a credit card. You have a $1,000 mortgage payment for a total of $3,000/month in payments. You use your HELOC to pay the credit card bill and the mortgage payment. Your new TOTAL mortgage balances are: 1st Lien of $195,000 2nd Lien HELOC of $3,000 Total = $198,000

    Step Six - Payoff the balance of the HELOC. In February, you get your paycheck again, but this time, put it entirely into your HELOC while keeping the balance of your 1st mortgage at $195,000 which is already saving you interest. With our balance of $3,000 and our positive cash flow of $2,000, the HELOC will be paid back to $0 in, technically, a month and half. Then you can continue the process of putting your paycheck into your mortgage.


    AMAZING ISN'T IT!! YOU ARE DOING MORE WITH THE MONEY YOU ALREADY MAKE! This can be found http://www.ehow.com/how_2076029_time...-interest.html

  2. #2
    Join Date
    Jul 2007
    Posts
    558

    Re: MMA United First Financial - Free Advice

    Quote Originally Posted by TrustedTruth
    Here is how you do it for FREE. No strings attached no fancy "algorithms" just 6 VERY VERY simple steps. SAVE YOUR MONEY and don’t listen to these so called “experts”. I am just trying to help. Nothing More!

    Step One -In our example, we have a $200,000 mortgage and we make $5,000 per month. Find your positive cash flow. This is the most important step. Take all your monthly bills including your mortgage, credit cards, utilities, memberships, gas, shopping money, grocery money, etc. etc. and add them all together. Take your monthly paycheck and subtract the total monthly expenses from it. Whatever you have left over is your amount of Monthly Positive Cash Flow. The more positive cash flow you have, the more interest you will save, and the faster you will payoff your mortgage.

    Step Two - Deposit your paycheck into your mortgage. Yes, you read it correctly. Lets say you get paid your paycheck of $5,000 on January 1. Take that entire $5,000 and deposit it into your mortgage. If you didn't already know, interest accrues daily on your mortgage in the United States. Deposit the entire $5,000 into your mortgage and your new balance (in our example) will be $195,000. For the entire month, interest will accrue based on a $195,000 balance instead of $200,000. You are already saving money! Wait, how do we pay our bills?

    Step Three - Get a good credit card. Credit cards can be the death of you BUT, if used correctly, they can be a cornerstone of this whole system. The one thing credit cards do well is they will give you "free" money for up to 45 days. If you have a $100 balance and you pay it off every month, you wont accrue any interest. We are going to pay AS MANY OF OUR BILLS as possible on our credit card. Utilities, gas, shopping, tickets to the movies...everything. Let's say we have accrued $2,000 in "bills" on our credit card throughout the month of January. Now what?

    Step Four - Get a Home Equity Line of Credit. The other cornerstone behind the system is the Home Equity Line of Credit, aka a HELOC. The HELOC is a useful type of mortgage that you can get that acts like a credit card using your home as collateral. Always always get a HELOC with a ZERO balance. You will use the HELOC to payoff the credit card balance of $2,000 in FULL every month and you will also use the HELOC to pay your mortgage payment (let's say your mortgage payment is $1,000).

    Step Five - Recap time. You put your entire $5,000 paycheck into your mortgage of $200,000. Your new mortgage balance is now $195,000. You put all your $2,000 of monthly "spendings" on a credit card. You have a $1,000 mortgage payment for a total of $3,000/month in payments. You use your HELOC to pay the credit card bill and the mortgage payment. Your new TOTAL mortgage balances are: 1st Lien of $195,000 2nd Lien HELOC of $3,000 Total = $198,000

    Step Six - Payoff the balance of the HELOC. In February, you get your paycheck again, but this time, put it entirely into your HELOC while keeping the balance of your 1st mortgage at $195,000 which is already saving you interest. With our balance of $3,000 and our positive cash flow of $2,000, the HELOC will be paid back to $0 in, technically, a month and half. Then you can continue the process of putting your paycheck into your mortgage.


    AMAZING ISN'T IT!! YOU ARE DOING MORE WITH THE MONEY YOU ALREADY MAKE! This can be found http://www.ehow.com/how_2076029_time...-interest.html
    Sounds like a complicated way that will cost you more money than the following:

    1) Determine what your discretionary income is
    2) Add that to your monthly mortgage payment

    Obviously you can gain float using your credit card, I do it and even put my mortgage payment on my credit card, but that has nothing to do with whether using a HELOC to prepay your mortgage (which you do, indirectly) is a good idea.

    It generally isn't.

    You really need to stop putting together a wordy scenario and without further analysis claim that it is a good idea. Instead, put together a spreadsheet that tracks your money with and without your scheme and compare the results.

    You might be surprised by what you learn.

    Using a HELOC to prepay a lower interest mortgage is a losing proposition regardless of whether you charge $3500 for a scheme or give it away for free.

  3. #3
    Join Date
    Sep 2007
    Posts
    14

    MMA United First Financial - GREAT investment!

    Trusted Truth is almost dead on. And if Truth Be Told did the math he would see that Trusted Truth's plan will absolutely beat his.

    But in reality... while Trusted Truths program is absolutely spot on and based on the right principles (though I see you simply copied and pasted that from the web site of someone that sells a competing program to the United First program) ... the accuracy of algothrimns in the United First Financial software will simply take those concepts and make them perform better.

    TT's program is heading the the right direction... it could just go FARTHER!

    Bottom line... the concepts here WORK... that is why there are SO many competitors already for United First. The question simply boils down to...

    Are you going to do a half baked job by yourself?

    Will you buy a spreadsheet based program on the cheap and hope it gets a bit closer ... or...

    Will get you get the best tool available with the most sophisticated features and newest technology?

    Remember... that every dollar you put into your primary mortgage in the first 10 years will save you more than FOUR TIMES that amount in interest over the life of the mortgage.

    SO... doing it as a guessing game... or waiting until you pay down the HELOC to zero is not agressive enough. You are sure to short your mortgage by thousands of dollars that you could have SAFELY borrowed from the HELOC by just digging a bit deeper.

    How deep? THAT is the question is it not?

    Why be penny wise and pound foolish?

    The extra savings you get with a deadly accurate software program is going to pay for itself many times over... and just make your life a lot easier.

    If you let the software monitor your cash flow and, hence, your effective interest on your HELOC and do the math for you. It is just going to optimize your results.

    If your life, and cash flow, varies from time to time... that is OK. The program is going to speed up when you can do that.. or coast... if you are having a slow time. It totally adjusts to YOU.

    It has a money back guarantee and zero complaints in the Better Business Bureau... so, really, what is there to lose?

    TIME is a factor in the savings here... you want to be as agressive as possible with the primary mortgage without costing too much interest on the HELOC side. The software makes it easy to get it right.

    And besides... there are times in your life you will need to make financial decisions as to the best way to handle purchases... the software has those tools built in too... just as perks. Since you can use it on mortgage after mortgage after mortgage.. it really just becomes like an in-house personal trainer... for your money.

  4. #4
    Join Date
    Aug 2007
    Posts
    28

    Re: MMA United First Financial - GREAT investment!

    Quote Originally Posted by SplendidTrout View Post
    Why be penny wise and pound foolish?

    .
    I love it when these guys use idioms, quotes, or proverbs that say exactly why their program is foolish.

    SplendidTrout, this is simple. Provide proof. It has been demonstrated over, and over, and over again that using an MMA is inferior identify how much you are willing to pay extra towards your mortgage and then doing that on an automatic schedule.

    Again, PROVE YOURSELF (e.g., 1+1=2 not a bunch of subjective words)

  5. #5
    Join Date
    Oct 2007
    Posts
    51

    Re: MMA United First Financial - Free Advice

    I'm Curious How You Know The Intricate Properties Of This Hiighly Advanced Software, Client Support Doesn't Even Know........

  6. #6
    Join Date
    Oct 2007
    Location
    Baltimore, MD
    Posts
    96

    Re: MMA United First Financial - Free Advice

    Quote Originally Posted by GUARDIAN ANGEL View Post
    I'm Curious How You Know The Intricate Properties Of This Hiighly Advanced Software, Client Support Doesn't Even Know........
    Unfortunately, MMA is a proprietary product and no one will tell you how it works. They claim their exclusive algorithm tells you when and how much to send to your mortgage from your HELOC to minimize the interest paid.

    If you read any post by any MMA agent, you will always see them touting that they can help you pay your mortgage down faster than you can do it on your own. What they don't tell you is that the total amount of interest paid, between your mortgage and the HELOC, is higher.

  7. #7
    Join Date
    Aug 2007
    Posts
    104

    Re: MMA United First Financial - Free Advice

    Every HELOC swith-a-roo scheme we've seen so far slows down the payoff time. This is because a HELOC rate is much higher. The moment you include the HELOC in the mix...no matter how much you try to rearrange numbers...it ends up costing you more money.

    Quote Originally Posted by TrustedTruth View Post

    And from this scammy link:

    # This is NOT putting extra money towards your mortgage
    # This is NOT making an extra payment
    # This does NOT require you to change your lifestyle

    Sorry, those three items are a lie.

    You DO put extra money towards your mortgage. Your extra money is what drives the engine. You DO make extra payments towards your mortgage. You do change your lifestyle drastically, because all your spare money goes to the mortgage.

    Why is it that every HELOC swith-a-roo advocate feels the need to lie about these three items?

  8. #8
    Join Date
    Oct 2007
    Posts
    51

    Re: MMA United First Financial - GREAT investment!

    The Money Back Guarantee Is Only For One Year, Payoffs Exceed That, So Are People Supposed To Feel Better About The Program Or The Guarantee With A Time Limit?
    Why Doesn't The Program Have A Guarantee For The Life Of The Program?

  9. #9
    Join Date
    Nov 2007
    Posts
    4,265

    Re: MMA United First Financial - GREAT investment!

    Quote Originally Posted by SplendidTrout View Post
    Trusted Truth is almost dead on. And if Truth Be Told did the math he would see that Trusted Truth's plan will absolutely beat his.
    Care to take the challenge that no other UFF agent or proponent of the program will take and actually simulate a sample problem out in the open for everyone to see. Even without the expensive $3500 price tag, it's slower than a good bank account and prepayment. Don't respond trying to explain your way around it, either put up or shut up and simulate a real world sample problem. If the sytem worked as well as you say it does, this exercise would prove it. We just need to show all money movements (dates) for the loans and bank accounts.

    we know you won't because it's a sh!t product that only makes money for it's sellers while detracting from the client's ability to prepay his or her mortgage.

    put up or shut up. I'm guessing you'll do neither and just spout more propoganda. Maybe we could call you SplendidSpout.

  10. #10
    Join Date
    Nov 2007
    Posts
    4,265

    Re: MMA United First Financial - Free Advice

    Quote Originally Posted by helix View Post
    And from this scammy link:

    # This is NOT putting extra money towards your mortgage
    # This is NOT making an extra payment
    # This does NOT require you to change your lifestyle

    Sorry, those three items are a lie.

    You DO put extra money towards your mortgage. Your extra money is what drives the engine. You DO make extra payments towards your mortgage. You do change your lifestyle drastically, because all your spare money goes to the mortgage.

    Why is it that every HELOC swith-a-roo advocate feels the need to lie about these three items?
    Because without it, they would lose most of their sales.

  11. #11
    Roccy is offline Roccy DeFrancesco, JD, CWPP, CAPP, MMB User Rank
    Join Date
    Oct 2007
    Posts
    13

    Re: MMA United First Financial - Free Advice

    For those who really care about the numbers/math with U1st or HEAP (Home Mortgage Acceleration Plan (http://www.heaplan.com)), the use of the HELOC only helps pay off a 30-year fixed mortgage about 12-24 month early for the average client.

    Anyone stating it's more then that is using a defective calculator.

    Those selling u1st in a disingenuous manner should learn the math so they can only sort of misrepresent their magic software (the only way to pay a mortgage down quicker is to make more money or have less expenses).

    For those interested in a client first home mortgage acceleration plan, go check out http://www.heaplan.com. It's a sales platform with a calc. and illustration for the client.

    If you don't need the software and have your own spreadsheet you can sell this type of program on your own. Don't be fooled into thinking that you have to have magic software to make the plan work (although it is nice to have a credible sales platform to work off of like HEAP).

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