Have you heard of United 1st Financial?

[charlesa6]

Yea....., thanks for the link, logan.

[Logan]

Originally Posted by rentiap

Thanks for the heads up!
With G. Edward Griffin putting his name to it I will definitely stay as far away from it as I can get.
He's one of the peas in a pod. Ever hear of a Chameleon?
JMHO!

Please explain your disapproval of Griffin. I did not know he was a "chameleon".

[Logan]

Man! I am signing up today! I did my analysis and I will be mortgage free in 11 yrs and save $50,000 without changing anything. This is definitely a good thing.


P.S. Use the Heloc, pay off your mortgage, cancel the Heloc, apply for allodial title, own your property. simple.

[RetirementPlanner]

A lot of folks here are speculating about the nature of the Money Merge Account. I hope you do not mind me jumping in and clarifiying the facts... but I recently bought this program and have done all the research already.

A ''Money Merge Account'' (MMA) is essentially a program that sets up a home equity line of credit (in 2nd position) that is used as a person or family's checking account for the purpose of paying down their primary mortgage faster and build more equity.

You can do this with a personal line of credit as well, or a secured line of credit... however the disadvantage there is that the interest is not deductible.

I have compared this program to a bi-weekly... and to the same scenario of just taking every penny of ones discretionary income and throwing it at the primary principle... and it beat both hands down.

In one scenario I used a $270,00 mortage @ 5.75% and the HELOC was at 9%

The couple had $200 a month in discretionary income which, applied as an additional principle payment, would have paid off their mortgage in 22.75 years.

The Money Merge Account had them paid off in 16.3 years, saving them an additional 6 years and $48,666 in interest. It ALSO gave them an effective interest for BOTH the primary mortage, and the HELOC, of 3.11%.

A bi-weekly would have paid them off in 24 years.

It is plain to see, when you compare the bottom lines, how well the math here performs.

WHY does it work so well?

The Money Merge Account is comprised of 3 components.

Primary Mortgage
Advanced Line of Credit (HELOC)
Money Merge Account Proprietary Software

With a MMA, a HELOC is set up (tax deductible for most) and a payment is made from the HELOC to the principle of the first mortgage... as directed by the software program... which is nothing more than a software program designed to do this very specific task (manage cash flow and accelerate a mortgage).

The income is then used to pay the HELOC back to almost zero and the process is repeated as directed by the software... which recasts the homeowners numbers with every financial variable (money in - money out). NOTE: I am self employed so I love how easy this is. I could never, with my wanky income, do this on my own.

In some ways the MMA works like a sweep account... cancelling out interest.

Additionally, the software creates an extra "edge," over what one could easily do on their own. I am not saying that some could not figure these calculations out - after all the software was designed by a real live person, and I am sure there are math whiz's out there that could sharpen a pencil and get pretty darn close.

But what the software does is it calculates the value of the stagnant money the homeowner no longer has (as they do not need a savings account and only keep the bare minimum in checking from now on) and borrows against the value of their stagnant money, knowing that they will be depositing their income into the HELOC very shortly and cancelling out a good portion of the interest on that side.

See... normally banks make billions off arbitrage. Meaning... we pay the banks 6% for our mortage, yet allow them to pay us 3% for our savings and 0% for our checking.

What is a person's individual arbitrage (value of this money) worth?

This is part of the extra edge the software calculates and, while it may seem like nickels and dimes, this money is magnified many times over when used to pay down principle on the primary mortgage, due to the nature of simple versus compound interest...

The other edge the MMA provides IS that difference between the closed end interest (formerly called compound interest) on the primary mortage and the simple interest on the HELOC side.

Example...

$1 borrowed out of a HELOC @ 10% interest costs how much? .10 cents (or less) - as long as that dollar is paid back within a year (simple interest). Agreed?

That same $1, when applied to a mortgage in the early stages (first 15 years) will save more than $4 in interest over the life of the loan, plus add $1 of equity. This is because, while the mortgage may be at just 6%, that is 6% each year... year after year... for 30 years (this was formerly referred to as compound interest, however banks now refer to it as closed end interest). Use any extra payment calculator on the internet to prove this to yourself.

Does it make sense to spend .10 cents to save more than $4.00?

Would you agree this would be a good return on that investment?

These 2 dynamics (use of stagnant money and closed versus open ended interest), calculated by the software (along with the various other financial calculations the software makes in regard to monitoring the homeowners cash flow), mean that a homeowner can generally pay off their mortgage in about 18 years, even if they have $0 discretionary dollars.

That is right... save more than 11 years off a mortgage - with $0 discretionary dollars.

Those that do not spend every penny of their income fare even better, and can typically pay off a home in as little as 8 to 11 years using this program.


HISTORY

The Money Merge Account software is proprietary, and was designed to manage a work around solution that is modeled after a mortgage concept that has been used successfully in the UK, Europe and Australia, for more than 10 years. This concept is called a Current Account Mortgage, and, while there are several true CAM's in the US market place (CMG Mortgage and Macquarrie are two that were mentioned here), and while they are excellent mortgage products for the right person, less than 10% of homeowner will qualify for a true CAM.

70% of homeowners will qualify for the MMA, and, for most, the MMA will outperform the CAM that it is based on.

The reason why it out performs a true CAM (in most cases) is because it combines the best feaures of two loan products... the low fixed rate of the primary mortgage, and the open-ended nature of the HELOC. A true CAM requires the homeowner to refinance/finance their whole home into an interest rate that is, on average, about 2% higher than a fixed rate (it is tied to the LIBOR). This puts most homeowners a little behind the 8 ball to start with on the CAM and, where a CAM will pay off a home in an average of 17 to 21 years, the MMA will do it in as little as 8 to 11.


INVESTIGATION

Loan products are math. So it is a simple matter to do a comparison to see which program will save the most money for a homeowner. Sometimes refinancing a home can save even more money (the MMA program will pay of an interest only loan faster than a 30 year fixed), though usually it takes 2 years to recoup the costs of a refinance, so the length of time the homeowner is planning to remain in the home must be factored in.

Whatever a homeowners situation, it is always advisable to compare more than one scenario to see which way produces the best bottom line.

If you are interested in the Money Merge Account, contact a United First Financial agent and they will run an Analysis on your numbers that you can then compare to anything else you want.

You can also run your same numbers through the simulator on the CMG web site as well.

By the way... COSTS:

Cost for MMA software from United First Financial is $3500 - out of heloc, not out of pocket. This is transferrable for up to 5 homes (primary residences) at no additional cost. Most refinances cost more than that and they only work for the one home. There are no monthly costs or any other costs.

CMG mortgage also has closing costs ranging from $3000 to $9000, though you can get lower, or no, closing costs if you take a higher interest rate. CMG is a simple product as it is a true mortgage. It is more likely to get similiar results to the MMA if the homeowner has huge amounts of discretionary income to work with.

Also... HELOCS - helocs have closing costs (around $450 or so), however most banks are so competitive with their helocs they pay their closing costs themselves if you agree to keep it open a period of time, or someother hoop they want you to jump though. Mine made me take out $15,000 when I closed, but also said it was OK to put it back right away - I did. Also... while some banks may have a monthly fee... many do not, and the only cost is the interest on whatever the balance is. The HELOC for this program MUST be a specific kind... so make sure you check before you get one.

United First Financial ONLY sells the MMA software - it does not have any financial interest in the HELOC business, though it's agents will help a client find the best one. Shopping around for features and costs is something their agents do all the time, so they know what questions to ask. A homeowner is always advised to check with their own lender first.

If you have questions... call me: 407-697-8869

I own this software program myself, and can show it to you over the web.

NOTE: I also check this company in the Better Business Bureau. It has been selling this product for over a year and not one complaint.

[cigs645]

It pays to shop around. Before you pay a network marketing company(which is what United is),third party or middle man almost $4000 to set this up for you and another monthly service charge for the next 7 to 10 years (those are their fees) check out this article by bankrate.com. It mentions 2 companies which offer this same program , CMG Financial Services offers a Home Ownership Accelerator deal and Macquarie Mortgages USA, where it is called the Macquarie Asset Manager. Both programs have annual fees of $30 to $60.It doesn't hurt to shop around. A third company which offers the same deal is:http://www.salemfive.com/mortgage/ultimateAccount.html


http://www.bankrate.com/yho/news/mo...mortgage_a1.asp


'Mortgage accelerator' loans come to U.S.
By Don Taylor • Bankrate.com


A different type of mortgage, called a "mortgage accelerator" loan, has migrated to the United States. It uses home equity borrowing and the borrower's paycheck to shorten the time until a mortgage is paid off, saving tens of thousands in interest expense.

Not to be confused with a biweekly mortgage loan that shortens a mortgage by paying an extra mortgage payment once a year, the mortgage accelerator loan program is based on an approach common in Australia and the United Kingdom, where borrowers deposit their paychecks into an account that, every month, applies every unspent dime against the mortgage loan balance.

In Australia, more than one-third of homeowners use a mortgage accelerator program. In the U.K., it's about 25 percent. In the U.S., the two firms currently offering these mortgages are Macquarie Mortgages USA, where it is called the Macquarie Asset Manager, and CMG Financial Services, whose offering is called the Home Ownership Accelerator.

The premise is that borrowers finance a new property or refinance existing property using a home equity line of credit, or HELOC. Borrowers then begin directly depositing their entire paychecks into the HELOC. Monthly expenses, other than mortgage payments, are funded by draws against the line of credit, whether that is by using bill pay, check writing, ATM withdrawals or a credit card tied to the line of credit. Even if you don't wind up making additional principal payments in a month, you still capture some interest savings because your average balance is less than it would have been with a conventional loan.

Example
As a simple example, let's say your mortgage payment on a conventional fixed-rate mortgage is $2,000 and your monthly net income is $5,000. With the mortgage accelerator, even if you spend the $3,000 difference, your average mortgage balance for the month is $1,500 less than it was with the conventional mortgage. That's because the entire $5,000 is deposited in the loan account and you made draws of $3,000 for living expenses spread over the month. At a 7¾ percent loan rate, that saves you about $10.00 in interest expense that month.

Now $10 here and $10 there does add up over time, although both loan programs have annual fees of $30 to $60, but the accelerator part of the mortgage lies in having all your net pay going against the mortgage and an assumption that you have positive monthly cash flow -- meaning you don't spend as much as you make. The simulation calculator on the CMG Web site has stock assumptions that you have 10 percent, 20 percent or even 25 percent of your net pay leftover each month that you can apply to your mortgage balance. The Macquarie site has its own simulation calculator.

Not for the financially indisciplined
Of course, all borrowers already have that money available with a conventional mortgage, too -- and without the cost of refinancing. A borrower would simply need the financial discipline to use all that money as an additional principal payment.

http://www.salemfive.com/mortgage/ultimateAccount.html

also you can di it for free, go to this link:
http://www.integramortgages.com/FinancialVOODOO

Originally Posted by Logan

Have any of you heard of this company offering a web based register software to pay off your mortgage in a third of the time utilizing a HELOC?

I realize this is statutory and from within the current system but it does look practical and easy for the average person looking to rid themselves of their mortgage in a severely decreased time frame.

www.u1stfinancial.com

[charlesa6]

Yea, thanks for the link.

[RetirementPlanner]

Dear Cigs645

You must have missed my post above. If you will excuse me… I would like to clarify the following points…


You said… Before you pay a network marketing company (which is what United is), third party or middle man almost $4000 to set this up for you and another monthly service charge for the next 7 to 10 years (those are their fees) check out this article by bankrate.com. It mentions 2 companies which offer this same program , CMG Financial Services offers a Home Ownership Accelerator deal and Macquarie Mortgages USA, where it is called the Macquarie Asset Manager. Both programs have annual fees of $30 to $60.It doesn't hurt to shop around. A third company which offers the same deal is:http://www.salemfive.com/mortgage/ultimateAccount.html


I agree it is important to shop around... and to get accurate information.

First …. United First Financial pays it’s agents using the same commission – over-ride – bonus pool model that Traveler’s Insurance used – and it is very similar to what many major Insurance companies use still today. If you want to call that network marketing, feel free, but some folks have a different perspective of NM. Also UFF agents must be certified – passing a 100 question test. So it is not like my cousin Billy Bob is going to succeed in this organization.


I just reviewed for everyone (above post) the differences between a Current Account Mortgage, and CMG and Macquarie which are excellent MORTGAGE products (the Money Merge Account is not a mortage however).

I have agents (mortgage brokers) that represent BOTH the Money Merge Account as well as those other products. They will run the numbers and put the client into whatever is the BEST DEAL for the client. In fact, interestingly they use the MMA to prospect for clients for the CMG mortage.

CMG and Macquarie are excellent products …however they are a mortage and have costs to refinance – like any mortgage (see my post above). The yearly fees are on top of the initial cost to get into the loan. In most cases, the Money Merge account will cost LESS than CMG or Macquarie to set up… but even in those cases where it does not cost less (you can get into CMG with no upfront costs if you will accept a higher interest rate) … what would be more important to you… saving $3000 on the front end… or $50,000 more on the back end?

I have not investigated the Salem product yet… but it looks exciting! However one downside I see already is that you have to have 20% equity in your home. That knocks a lot of folks out of the ballpark already. This would be something you would want to add to your comparison shopping list though. I also notice closing costs are from $700 to $4000.

Let us face it… whatever we do out there is going to have costs. The important thing to ask ourselves is …which is going to give us the best bottom line? Right? After all… in this scenario… cost is moot…. ROI – return on investment is the important point.

Despite what was said by someone here – there are NO monthly fees for the Money Merge Account. The $3500 is a one time cost… upgrades to the software are free and you can use it on up to 5 primary residences at no extra cost, and on multiple investment properties at a small additional cost (there is free live tech support).

This article below on the bankrate web site is confusing… as it is NOT talking about the Money Merge Account… but about the TRUE Current Account mortgages… CMG and Macquarie.

Let me clarify…

Again, the Money Merge Account is NOT a mortage… it is essentially a software program combined with a concept that provides a work-around solution that works off the same principle as a Current Account Mortgage. It will, in almost all cases, OUTPERFORM a true current account mortage because with a true CAM you must refinance into an interest rate that is about 2% higher (in general). You can buy down a lower interest rate… but then you have more upfront costs.

I am sure you would agree that if you have $250,000 financed at 6%, and you have the same amount financed at 8%, that, providing the stagnant money calculations are accurate, that the 6% will pay off earlier.

One more note about the true current account mortgage, as opposed to the Money Merge Account… The true CAMS are excellent loan products… but ARE a variable rate product that your whole house is financed with.

The Money Merge Account has your home still financed in the original mortgage… so if you have a nice, low fixed rate - you keep that. So… in the worst case scenario… with MMA …you are no worse off than before.

I hope that puts that issue to rest… Again… these are MATH based products… so if someone wanted to shop around they can easily compare all the variables and costs of the different choices, and go with what provides them the most savings. Every client I have had so far that compared… ended up with an MMA instead of a true CAM.

One more note… CAMS are excellent… but less than 10% of folks will qualify. About 70% qualify for MMA. (see original post above)


NOTE: This is the confusing link as it talks about CAMS – not about Money Merge Accounts – apples and oranges. Good information though about CAMS.
http://www.bankrate.com/yho/news/mo...mortgage_a1.asp


This link…
“also you can di it for free, go to this link:
http://www.integramortgages.com/FinancialVOODOO

… is basically a joke, in my humble opinion. It is by a guy that has no working knowledge of how the MMA works, or performs. At first I had the impression that he is a well meaning chap who is just bumfuzzled. However, it was pointed out on another forum that he may simply be doing some clever-weird sort of marketing…. Taking advantage of the fact that United First Financial is getting HUGE amounts of searches from people looking for information. It looks like he has even bought the key words “money merge account” and “United First Financial,” in Google to increase his placement (me thinks that looks suspicious).

I do not know this personally… but on another blog someone said they had called him on the phone and his “thing” is getting people to refinance with him and use the money in some investment thing. I do not have personal knowledge of this but you could call. If that is true… While it seems his marketing is creative… it also seems ironic… (and a bit risky?)… that he would act like some consumer advocate… publish damaging, and innaccurate information about another company, in order to generate traffic for his site to sell investments. Does that sound like something that someone of integrity would do? See the irony?

I think you will see his site go away soon. More and more people are learning about United First Financial every day and it is gaining more street cred with every new person that takes the time to learn about it and make comparisons. 2 major banks have tried to purchase the software already, and over 7000 programs have been sold so far. If this guy continues to leave that site up… he will only be hurting his own credibility among folks in the know.

As for being able to do it for free…. Let us get real here… do you really think that this company has sold millions of dollars worth of this software if it is that easy to do it yourself? It would be one thing if it was a $3 pet rock… but buying a $3500 software purchase is not something folks do lightly.

Do you think we have Financial Advisors, Attorneys, Bankers and CPA’s buying this software because they are just that gullible?

Again… this is MATH… if anyone thinks it is easy to do this themselves… feel free to try! Just run any scenario of numbers through the Money Merge Analysis. Then run it through CMG to compare. Then sharpen your pencil, and have fun with your excel spreadsheets and calculators… and see if you can match what MMA guarantees it can do (remember – it has a money back guarantee).

I can show you how this program will pay off a $250,000 mortgage, for someone with $3800 a month in income… but with $0 in discretionary income. And… that it will do it in just 18.5 years.

Would love anyone to show me your numbers showing how you would accomplish that. Though… if you have a PhD in mathmatics… I will conceed that you may have the skills to do it…. But could you do it spending less than 10-20 minutes a month?

For everyone not a professional mathmetician… I dare you to take the comparison challenge… http://www.u1stFinancial4u.com just click on FREE ANALYSIS
(my link - & I apologize if this seems like advertising – but it is the only way to give you the information you need to make an informed decision, Or call me at 407-697-8869).

If I could show you the exact day, and year, that you will be completely debt free, using no new money (just what you make now)… would that be of interest?

If I could save you $150,000 in interest on your little cottage, without spending any new money – would that be worth a $3500 investment?

If I could show you how you could own 1 primary residence, and 4-5 investment-rental homes (fee and clear), using no new money, but only your current cash flow, and do it in the same time that it would normally take to pay down just the first mortgage with a 30 year fixed. Would that be of interest to you?

It is only math. Make your comparisons… make an informed decision.

[Logan]

Absolutely,

I have been researching the MMA for some time now and have signed up to be an agent. The analysis tool is very powerful and the support is incredible. I know this program will help people who have not yet escaped from the invisible contract 'system'.

I see one main benefit above all to this and any other disciplined debt elimination process and that is taking back your hard earned sweat equity from the banking cartel. If enough of us were to pay off our consumer debt, the bank would not be able to continue to issue credit out of thin air based on our monetized signature.
They would have to engage in some other fraudulent practice of wealth redistribution.

Besides, how much better could we individually and collectively live if we could finance our own material needs and investments and retain all our sweat equity for any decision we want to make?

This process is just one more great and principled thing to come out of Utah. Check it out.

[Logan]

Check out what Las Vegas channel 3 had to report on this MMA program. Click on the links to the left and watch the videos.

http://www.freedomforceinternational.org/videos/MMA.wmv





July 7, 2007 update: I have edited and repaired this link. It had been removed but G. Edward Griffin linked it to his site.

[Money Merge Expert]

I have the philosophy in life that generally people are smart and do the best they can.

The Money Merge software is a product of United First Financial, this software is, has, and will help many average homeowners save a ton interest on their mortgage.

There seams to be a debate over whether or not you can do this on your own or not. Let’s look at the design and the concept. The Money Merge Software uses mortgage products already in existence, i.e. a first mortgage (closed ended loan) and a home equity line (open ended loan). The concept is to run your entire cash flow through your home equity line and make large payments towards your first mortgage. This formula cancels out interest and knocks years off your ultimate payoff. Yes, in my opinion can you do this on your own, because anyone (with the proper credit) can access these mortgage products from the banking and mortgage industry.

I think the real question is, can you be as efficient on your own as the Money Merge software? So let’s imagine you have both a first mortgage and a home equity line in place, you start running all your cash flow through the home equity line. When do you send the first large payment to your first mortgage and how much do you send? How long do you wait to send the next large payment and how much is that one? Have you been as efficient as the Money Merge software? Now lets ad some real life variables in the mix. You have sent your first large payment towards your first mortgage and your transmission on your car goes out. You are running all your cash flow through your home equity line so you make another large payment to the transmission shop. How does this affect your overall picture and now how long should you wait to send the next large payment to your first mortgage with this new variable? Now you have an unexpected doctor bill etc, etc, etc. So yes you can do this on your own, but how much time and effort is needed? Have you been as effective as the software? The interest on the home equity line is normally higher than your first mortgage, so it is important from and efficiency stand point to move your funds at the optimal time and in the optimal amount.

Yes there are e-books that can assist you for $97.00 on the internet, and there are free spread sheets that can do some of the work, but in my opinion they can not replace the efficiencies of the software. Its like thinking because a typewriter can write a letter, you don't need your computer and Microsoft Word. The computer coupled with the software gives you a lot more efficiencies. You can cut down a tree with a hand saw or a power saw they both work, but one is a lot faster and takes a lot less time and energy. United First Financial has spent millions of dollars on the development and deployment of this software and is continuing to spend millions on its future development.

Anyone can go on the internet and get a free operating system but you do not see very many people doing this, why? No support, no one to call if something goes wrong, and most other software programs you would buy may not be compatible, it is very risky and there is no support. So most of us don’t use free operating systems, we pay Microsoft or Apple for a operating system that has unique development and support included.

United First Financial is a company in good standing and has a strong track record. You not only get the software and all the updates for life, you get your own personal customer support representative who you can call anytime. You have an internet based software product that is accessible almost anywhere in the world that you can get an internet connection. That means you are not alone and have the expertise of the entire company working for you. You have a staff of highly evolved software developers that have built and are continuing to find efficiencies and build them in. You have version after version, and in each new version you have new features and more efficiencies. Let’s be honest, we all know that we get what we pay for in life. You can get a brand new $12,000.00 car or you can get a $60,000.00 car. They will both get you there, but one will get you there a lot faster, a lot safer, and in a lot more comfort than the other.

The 30 year mortgage was developed by the banking and mortgage industry to benefit them, not the average American homeowner. When change happens there are almost always skeptics, but the most valuable things in life in my opinion come from the unknown. This concept is not a scam it is just basic math, so whether you do it completely on your own, get a free spreadsheet, purchase an e-book, or get one of the software products now on the market, do it now as they all work! The question in my opinion is a question of efficiencies and support.

For most people their home will be the single most expensive purchase they make there entire life. Ninety seven percent (97%) of Americans retire at or below the poverty level. If you take all the mortgages in America that are held by people who have owned their homes for over ten years, they owe more now than ten years ago when they originally purchased their homes. Most American’s with a mortgage keep cashing out there equity and digging a deeper hole. This product works for the average guy and has been designed for simplicity. If you can get on the internet you can do this, it only takes a few minutes a month.

I strongly invite you to make a substantial change in your life and make a life altering change to your financial picture, do a free analysis with a competent United First agent, see how much money you can save in interest, and how many years you can shave off your mortgage. It won’t cost you a dime to have a free analysis done, but you can then have all the information you require to make a relaxed and informed decision. This is real money and it is your money!

Pay off your mortgage early and invest the savings or purchase more real estate, use the software to pay off the second property, do it again and again! Were will your mortgage balance be in 7-11 years? We all know what to do but 97% of Americans are not doing it

Albert Einstein once said that “the definition of insanity is doing the same thing over and over again and expecting different results” Will you just keep sending that mortgage payment?

"The man that understands interest will earn it, and the man that does not will pay it".....Albert Einstein

Make it a fantastic day as you certainly deserve it!

P.S. Here is a link to an interesting NBC news story on the UFF Money Merge software

NBC News Story


Bart Saxey
The Money Merge Expert
www.MoneyMergeExpert.com