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Since this is a mortgage newsgroup, I felt that a post offering a way to pay
off notes
using current income, without refinancing, or making additional out of
pocket payments
to principal or forcing the borrower to change his lifestyle would be on
topic. Have you
noticed that most of the posts on this group are about everything but
mortgages.
The Money Merge Account enables the homeowner to use the bank's money from
an
open ended 2nd position HELOC to cancel future closed end interest in the
1st mortgage.
Our system's algorithms enable the homeowner to pay off both the 1st and
HELOC 2nd
in as little as 1/3 the time. That's why we have some customers on schedule
to be FREE
and CLEAR on a 30 year note in 8 years. It takes some people longer and some
people
can do it in less time.
Our customers do not have to know anything about financial mathematics. They
just have to
follow the system's suggestions and tell it the truth about what they do in
the real world.
We believe that it is better to help people get out of debt than to keep
them there forever.
The math works and so does the MMA. If you would like to see some truth
about mortgages,
please visit www.be-mortgage-free.info where you may learn more.
1st position HELOCS are ok but dangerous for many people. Why do you think
one needs
very good credit to get one? The MMA works on any mortgage and most people
can qualify.
"Jeff Strickland" <crwlr@verizon.net> wrote in message
news:4OwWh.3539$Fs6.3158@trnddc03...
>
> "Ashley" <mma@wave-3.com> wrote in message
> news:XK6Wh.273$Fs6.44@trnddc03...
>> First of all, I'm not lying and we are not money lenders.
>> Your discussion about HELOCs is getting at the idea our system employs.
>> It works with any kind of mortgage and the homeowner does not refinance
>> his existing note. We show the homeowner how to force changes to the
>> amortization schedule by making precise equity transfers from HELOC to
>> 1st mortgage. But he does not use money out of pocket.
>>
>> I respect your opinion, but you're simply not sufficiently informed on
>> what's available.
>>
>> If you would like to learn more, then contact me directly.
>>
>
> The point of a news group is to discuss topics in an open forum where
> participants and observers can gleem information they otherwise might not
> have or know. Technically, it is very poor form to sell products through a
> newsgroup, indeed many groups forbid commercial postings -- your post is a
> commercial post, by the way, because you are soliciting business.
>
> It isn't mathematically possible to pay off a mortgage without making
> larger payments than the amortization schedule calls for. Period. If one
> isn't taking money out of his pocket, then the outstanding balance isn't
> going down.
>
> You can sell a product that pays the mortgage faster but does not change
> the buyer's standard of living IF the product captures all of the income
> dollars and reduces the principle amount immediately and vastly. The
> buyer/borrower still has bills to pay, and he pays them with HELOC dollars
> (checks issued at the onset of the mortgage), but the difference in total
> income and total outflow remains in the mortgage account and reduces the
> principle very quickly.
>
> Alternatively, the buyer/borrower can change his standard of living by
> throwing extra cash at the principle every month and reduce the
> outstanding balance that way.
>
> The difference in the two methods is that the first is a true Home Equity
> Line of Credit in a 1st Trust Deed position that gives the borrower access
> to as much as 90% of the equity value of the home without having to
> refinance, the latter method locks up the equity into the mortgage and
> requires a refi in order to gain access to any equity acquired. The first
> method, the HELOC 1st, effectively takes money from another savings
> vehicle and moves it to the mortgage. The effective APY of the savings
> dollars becomes the interest rate of the mortgage. Additionally, daily
> living expenses and regular bills that are paid through the HELOC checks
> will transfer those bills to mortgage interest, which then become a tax
> deduction.
>
> Let's say you make $7000 per month. Your mortgage is $3000, and the rest
> of your bills -- utilities, credit cards, groceries, car payments, etc. --
> add up to $2000. Your mortgage and bills are $5000, your income is $7000.
> These numbers would put $2000 into savings each month. If you had a HELOC
> 1st, then you would reduce your principle by that $2000 instead of collect
> interest on a passbook account. Another thing is that you get paid on the
> 1st and the 15th, but do not make the house payment until the 25th. This
> parks yoru house payment for a minimum of 10 days not making any money at
> all. If your pay check was deposited directly to the HELOC account (a
> requirement of the program, by the way), then your principle is reduced
> from the day you get paid, not from several days after you write the
> check. You have a lower Average Daily Balance from which to calculate
> interest due, and you lower the balance more, and you pay for stuff with
> HELOC dollars that become mortgage interest that is deductable from income
> taxes.
>
> It is a good program for the right kind of borrower.
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Re: Equity Acceleration
