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Thread: Mortgage Magic

  1. #1
    Join Date
    May 2008
    Posts
    16

    Mortgage Magic

    Any of you heard or experience with Mortgage Magic. I know that UFF has a similar product but it cost too much $3500. Mortgage Magic cost only $325 which I think is much more reasonable if it does the job.

    Have any of you ACTUALLY use this?

  2. #2
    Join Date
    Nov 2007
    Posts
    4,265

    Re: Mortgage Magic

    no matter how much you pay for it, it's still your extra money, not their algorithm, that is doing their work, so you are just better of paying extra on your own. It's still $325 that you could put towards your mortgage instead of software that doesn't do anything.

    no i don't use this, but anyone can write a check on their own. it's just that simple.

  3. #3
    Join Date
    Apr 2008
    Location
    New York
    Posts
    3

    Re: Mortgage Magic

    I actually know the person who created the software and it's the same exact thing that United First Financial sells except for cheaper. He gets that question all the time about why his system is so much cheaper and people just can't believe that he is selling a product of equal quality for thousands less.

    UFF is an MLM company and that's why they charge so much. They pay their sales people thousands of dollars on software sales. It's also why the whole system gets a bad name because it's associated with a network marketing company.

    Can you do the same thing without software? Yes, but it makes it a lot easier with it and people with just average math or financial skills might find it difficult to track there spending and figure out how much money to move between their HELOC and mortgage and when the best time to do it would be. I have never seen UFF's software, but the user interface for Mortgage Magic is very easy and strightforward and the support is excellent.

    The Mortgage Magic software and money merge account do work and it has been checked by financial accountants and banks for accuracy. Depending on your financial situation it may not be right for you, but it is an option to look into if you are looking to payoff your mortgage much sooner without extra payments.

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

    Re: Mortgage Magic

    moneyflow4life, the reason your "friend" can sell the software for so much cheaper is that the technique is painfully simple.

    the math skills required to match this program is the following calculation each month:

    income - expenses = extra mortgage payment.

    yeah, that's tough.

    if you are hell bent on doing the miniscule benefit, higher risk, HELOC method, well, then the optimal money movements from HELOC to mortgage are:

    first month: equal to monthly income
    subsequent months: equal to income - expenses
    optimal time, last day of the month your bank will allow an additional payment.

    Yep, it's just that simple. That's why the software is so cheap. It's trivial math.

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