• No Refinance Needed!
• Normally costs less than ONE mortgage payment!
• Available in all 50 States
• Not a debt roll down program or bi-weekly program
• Little to no alteration to your current standard of living!
• Potentially Save 100's of 1,000's in INTEREST!
• Easy at Home, Secure Web Based Program - User Friendly
• Full Technical Support, NO software to install!
• Allowed for one home at a time; Lifetime usage!
• Purchase additional programs at 1/2 price for investment properties
• No Financial Accounts or Personal Information required!
• Some customers paid off a 30 yr Mtg. in less than 8 years!

 Pay off your house in less than 1/2 the time (along with other debt)
while using
Existing Banking Tools of today!

CALCULATE YOUR SAVINGS BY USING OUR EASY CALCULATOR NOW!
CLICK HERE>  Prove it to yourself!

_________________________________________

INVESTORS~! 

PAY OFF THREE HOUSES IN THE TIME YOU'D PAY OFF ONE?

______________________________________________________________
 

HOW MUCH WILL THAT NEW PURCHASE COST YOU WHEN YOU'RE USING THE PROGRAM? 
USE THIS CALCULATOR PROGRAM TO SEE HOW A NEW PURCHASE, such as a new car, WILL EFFECT YOUR DEBT FREEDOM WHILE USING THE PROGRAM!
CLICK HERE:
WILL IT CHANGE MY PAYOFF?

Every year you wait, is $100's of $1,000's more you've paid in INTEREST!

WATCH THIS VIDEO FOR MORE INFO:

13 minuteVIDEO

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2nd Pay Down Option:

Bi-Weekly Payment Program

Available for Your Mortgage!

Call or E-Mail for more information

DJ@Bi-WeeklyProgram

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3rd Pay Down Option:

Money Merge Account Software

PAY OFF YOUR EXISTING 30 YR MORTGAGE less than 1/3 to 1/2 the time!

 "CURRENTLY SEEKING INDEPENDENT AGENTS"
Call DJ @ 727-433-4777
Life is an opportunity; we have 2 different ways we can respond to things.
What is it that separates the successful and happy people from the others?
...LOSERS SEE OBSTACLES,  WINNERS SEE OPPORTUNITIES.   

•   Pay off your 30-year mortgage in as little as 8 to 10 yrs
•   Potentially save hundreds of thousands of $$$ interest
•   Little to no alteration to your current standard of living!
•   No refinancing of an existing mortgage!
•   Not a bi-weekly or debt roll-down program
•   Web-based State of the Art Software Program!

   
LEVERAGING YOUR DISCRETIONARY INCOME WITH AN “INTEREST CANCELLATION” PROGRAM, WORKING WITH EXISTING BANKING TOOLS OF TODAY!

DOUBLE CLICK FOR NEWS 3 REPORT!



OWN FREE & CLEAR!!!

Click here for UFirst Demo

 

 

Special report by G. Edward Griffin

HOW TO ELIMINATE MORE THAN HALF YOUR MORTGAGE INTEREST
This is not debt-consolidation, debt-cancellation, or something-for-nothing.
It is an ethical way to trim years off your debt and eliminate huge amounts of interest.

Those who are familiar with my book, The Creature from Jekyll Island; A Second Look at the Federal Reserve, know that I am a strong advocate of getting out and staying out of debt. Consumer debt is a trap in which people find themselves working all their lives to make exorbitant interest payments.

Home ownership is different. It is a foundation for financial security even though it may require debt. If we don't have sufficient capital to purchase a home outright, we have no choice but to borrow the balance, but excessive interest payments remain a serious problem.

There are numerous ways to reduce or eliminate interest payments, but the ones I have examined are too complicated, too expensive, or, in some cases, unethical. Now I have found one that has none of these handicaps and, frankly, I feel I have an obligation to tell you about it.

THE MONEY MERGE ACCOUNT (MMA)
Recently, I was introduced to a program that, although not new in concept, was unique in its implementation. The company is United First Financial, formed by two young men from the mortgage-lending business who wanted to help their clients acquire homes without being obligated to 20 or 30 years of debt. They developed a method to borrow money at one cost and use it to eliminate a much higher-cost mortgage. It is similar to rolling over a high-interest loan into a lower-interest loan, but the effect is a hundred times greater – and that is not an exaggeration. They call this unique program the Money Merge Account, or MMA.

I have examined this program closely and am happy to conclude that, not only does it work exactly as the company guarantees, it is entirely ethical as well. So I decided to add the MMA to the Reality Zone. If you are making mortgage payments, I highly recommend that you check it out. You will be amazed at the amount of interest you can eliminate and how much sooner you can achieve true home ownership.

Secrets Banks Don't Want You to Know

Source: Massachusetts Executive Office of Consumer Affairs and Business Regulation

1. Interest Backdating
Most card issuers charge interest from the day a charge is posted to your account if you don't pay in full monthly. But, some charge interest from the date of purchase, days before they have even paid the store on your behalf!
REMEDY: Find another card issuer, or always pay your bill in full by the due date.

2. Two-Cycle Billing
Issuers which use this method of calculating interest, charge two months worth of interest for the first month you failed to pay off your total balance in full. This issue arises only when you switch from paying in full to carrying a balance from month to month.
REMEDY: Switch issuers or always pay your balance in full.

3. The Right To Set off
If you have money on deposit at a bank, and also have your credit card there, you may have signed an agreement when you opened the deposit account which permits the bank to take those funds if you become delinquent on your credit card.
REMEDY: Bank at separate institutions, or avoid delinquencies.

4. Fees Are Negotiable
You may be paying up to $50 a year or more as an annual fee on your credit card. You may also be subject to finance charges of over 18%.
REMEDY: If you are a good customer, the bank may be willing to drop the annual fee, and reduce the interest rate ‹ you only have to ask! Otherwise, you can switch issuers to a lower- priced card.

5. Interest Rate Hikes Are Retroactive
If you sign up for a credit card with a low "teaser" rate, such as 7.9%, when the low rate period expires, your existing balance will likely be subject to the regular and substantially higher interest rate.
REMEDY: Pay in full before the rate increase or close the account.

6. Shortened Due Dates
Most card issuers offer a 25 day grace period in which to pay for new purchases without incurring finance charges. Some banks have shortened the grace period to 20 days‹but only for customers who pay in full monthly.
REMEDY: Ask to go back to 25 days.

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1. The software is costly:  The Cost of United First is normally less than a RE-FI and with greater, long-term benefits AND is good for your next property, also! 
   

 

First of all, people are realizing tens and even hundreds of thousands of dollars in savings by utilizing the MMA program.  Even if they are able to save as little as $35,000, that is a 1000% return on their initial investment savings.  Realizing that type of savings over a twelve-year term is an 833% annual return, again in the form of interest savings.  To top it off, the program is guaranteed as long as your customers’ monthly income and expenses stay within the guidelines of the initial financial analysis.

 

In our experience, the average client realized over $3500 in future interest savings by using the MMA program in a matter of 3-5 months.  This means that your client will most likely realize an interest savings that was greater than the $3500 original investment.

 

It is very important to point out that the $3500 is not paid out of the client’s checking account, but is usually paid directly from their HELOC.  In other words, the bank is lending them the money for the MMA program.  This payment should not result in any changes to your customers’ current lifestyle in any way.  This is not unlike rolling the cost of refinancing a mortgage loan into the loan with the exception that with the MMA, we are not incurring additional long-term debt, but showing your customers how to become debt free in one third to one half of the time.

 

2. I can do this myself-

 

You might if you were programmed and conditioned to calculate the exact amount of money to be transferred to your primary mortgage each and every month.  The MMA program is set up so that the maximum amount of funds are sent to principal, while the least amount is paid in interest.  The MMA is a finely tuned system that is maximizing the power of your money.   There is much more involved than just taking your discretionary income and applying it to your first mortgage each month.   Using the MMA program will accelerate the payoff much faster than a monthly transfer to principal.  Please do not underestimate the power of the program.

 

Also included in the system is a real time ”Financial Dashboard” that continually gives you feedback every time you make an entry into the software.  This allows you to make better decisions when it comes to capital expenditures and planning for a better future. 

1.

In a nutshell, the MMA program helps your customers develop better spending habits.  For example, ask them if they are where they want to be financially.  If not, why?   It is most likely because they are not conditioned or programmed to send extra money to their mortgage company.   They need the MMA.  The majority of clients who have been on the MMA program for over 2 years, are still on the program and in most cases are ahead of their projected schedule.  The MMA program does in fact help people change the way they look at becoming debt free in a positive and rewarding way. 

 

The MMA not only offers our customers an interest cancellation program, but generally offers them a reserve of funds that can be accessed in case of an emergency.

 

3. My CPA / Financial Advisor says I need a tax break-

 

First of all, remember that we are not tax advisors, but ask your accountant why they feel that it makes sense to pay a dollar in taxes in order to receive a return of .33 cents.  (This is just an example.  Your numbers will vary depending on the tax bracket that you are in).  Canceling high rates of interest by using the MMA program may more than offset the interest deduction you receive on your taxes from the interest you pay on your mortgage. 

 

4. This seems too good to be true-

 

FEEL, FELT, FOUND.

 

Tell your customer you understand how they might feel, you felt the same way when you first saw the MMA, but you have found that the program is very real… and here is why…for example, I have been on the program for several months, and you know what, it works like a charm.  This is the way that I will bank for the rest of my life.   I wish I would have known about this program 20 years ago.  This program is helping me to pay off our mortgage in (use your own numbers, or someone else’s if you are not on the program).

 

In fact Mr. And Mrs. Customer, let’s run a financial analysis for you and see exactly what your numbers will be.  I think you will be very surprised. 

 

Keep in mind the fact that most people you approach have never heard of banking from a HELOC.    Keep it simple.  Use the Financial Optometry.   

 2.

     5.  Why would I borrow money at a higher interest rate from a HELOC to pay off my mortgage, which is at a lower rate? 

 

You wouldn’t.  That would be very unwise.  We accomplish this because you are not paying interest on most of the money that you are using for your monthly expenses and additional principal payments.  By depositing your income into the HELOC on a monthly basis, you are offsetting the higher interest rate you would normally pay using a HELOC in the traditional manner.

 

6. Do I really need a HELOC?  Why can’t I use my savings account?

 

In order for the MMA program to function properly, you will need a HELOC because you are using more than just your money to satisfy your debt.  The program also utilizes the banks money to pay down the debt.

 

7. What if I move every 2 to 3 years ( I wouldn’t be able to pay off my home by then).

 

Most people will not be staying in their home long enough to pay it off completely.  Generally a homeowner will purchase another home after they sell.  It doesn’t matter how long you are going to be in your home.  The important thing to look at is, how much interest are you going to save and how much equity are you going to build in the time frame that you were in that home.   This means that when you do move, you will owe much less than you would have if you followed the bank or mortgage companies amortization schedule.  When they purchase their new home, they will simply start using their MMA program on their new mortgage.  Whether they are in a home for 2 years or 10 years, the program will help them in becoming debt free.

 

8.  What if I don’t believe in paying off my home?   (I’m an investor, and believe in leveraging the bank’s money).

 

This program is perfect for investors.  The result will differ from the homeowner who is looking to pay off their home, but the process is the same.  If you are an investor and believe in using the equity in the home, the MMA can accelerate the process.  Even investors receive paychecks or rental income in order to pay for their expenses.  These funds are typically deposited in a checking account until it is used to pay bills.  By using the MMA program, the investor can deposit their income and pay their expenses out of an equity line of credit without interrupting their current investment strategy.  Most investors with multiple properties will benefit from paying down one property at a time. 

3.

9.  I’ve seen programs similar to this for less money.  What is the difference between their program and our program?

 

The MMA Program offered by U First Financial is much different than other programs on the market.  Although it would be impossible to discuss every other program on the market, there are a few differences in our program.  The MMA is the only program that uses your first mortgage and an equity line of credit in conjunction with a patent-pending state of the art software program.  Driven by complex algorithms that instruct the movement of funds to decrease interest, the MMA program sets itself apart from the rest of the competition.  Other companies may use a HELOC as a first mortgage, or offer to sell you books, videos, financial planning software, or even ask you to send money to a third party to pay your monthly expenses etc..

 

Because the MMA Program offers more in the way of customer service, and lower pay off times, our program may cost more.  This is to be expected.  A majority of the competition also offers a much lower agent compensation program or in many cases, no compensation program whatsoever.  As part of the U First Policies and Procedures , no UFF agent will ever slander or speak in a negative way towards any of the competition.  Even though a competitors’ product may not offer the full benefit of the MMA program, they are providing a service that is helping Americans become aware that there is a better way of paying down a mortgage.  This will benefit everyone in the long run. 

 

10.    Will the MMA Program work for individuals who have incomes that change from month to month?

 

The MMA Program works great for people who have varying incomes each month.  There are many people who are paid on a commission basis that varies from month to month.  This is O.K..

 

The best way to figure the income for this type of individual is to take their average income over the past 6 or 12 months and use this for their financial analysis.

 

11.    What happens if the entire Internet goes down and I can’t access my MMA Software?

 

There is a remote chance that the U First servers could go down for a few moments each year, but it very rarely happens.  This may be for maintenance repairs, etc..  All you have to do is wait a few minutes and access the website when it comes back online.

 4.

 12.    What is the Money Merge Account?

 

The Money Merge Account is an online account system, which incorporates your checking and savings accounts combined with an advanced line of credit or HELOC (home equity line of credit).  This program enables qualified homeowners to pay off a thirty year mortgage in one third to one half of the time without the need to refinance their existing mortgage or to increase their current monthly payments.

 

13.    Why can’t I just make extra principal payments to my primary mortgage and achieve the same results?

 

The algorithms in the MMA program are systematically programmed to create the highest interest savings possible in the least amount of time.  This is called “Optimization”.  The math engines in the MMA system calculate the specific timing and dollar amounts required to produce payoff results far more effective than paying additional principal payments using conventional interest reduction programs. 

 

14.    If I have a savings account, does it make sense to move it over to my equity line?

 

Yes, it makes complete sense to funnel savings monies into your equity line of credit.  The agent software as well as the user software gives you the ability to build financial models so that you can show your client the effect that moving discretionary income into your HELOC would have on the net payoff of their mortgages and outstanding debts. 

 

15.    Once I am on the MMA Program, why don’t I ever make a scheduled monthly payment on my line of credit?

 

You will be utilizing your line of credit exactly like a primary checking account.  You will deposit all of your net income into the line of credit and pay all of your monthly expenses from the same line of credit.  The income that you deposit each month represents your monthly interest payment, therefore there is never a need to actually write a check for the monthly interest on the credit line.  When you receive your statement in the mail, you will log into your MMA software and make a journal entry for the amount of interest for that month.

 5.

 16.    If I am not increasing my monthly payment, how can this program possibly work?

 

The MMA software looks at your monthly income your monthly expenses, your HELOC balance and your discretionary income.  Because the software wants this equity line of credit to function just liker a checking account, it will only ask you to transfer additional funds to your primary mortgage if the balance in your equity line is at an optimal point.  Once you have made an initial transfer of funds to your primary mortgage, your discretionary income will eventually pay down your HELOC balance.  When your HELOC returns to an optimal level, the software will again ask you to make another funds transfer.  The cycle of depositing your income and paying your expenses will continue until your mortgage and HELOC are eventually paid off.  Keeping the maximum amount of money in your equity line each month for the maximum amount of time will speed up this process.  If you spend more each month than you deposit, your payoff time will increase. 

 

17.    What is the connection between my checking and savings account, and the equity line of credit?

 

The MMA Program uses the equity line of credit strictly as a vehicle or a tool to drive the software.  The MMA software does not move money and it is completely independent of the lender.

 

18.    Do you make payments for me?

 

No.  We do not make any payment for you.  We do not have any access to your accounts.  You will initiate all transactions by following the prompts that the software gives you.  You are always in complete control.  No third party transferring of monies, etc..

 

19.    Is my account secure? 

 

Yes.  United First Financial will never ask you for your social security number or account numbers.  Should the UFF servers be attacked by a virus, etc., your accounts would never be compromised.  This is why this is a web based software and not a stand-alone software that you would load onto your computer with a disk.  Personal computers are at a greater risk for viral attacks.  Your numbers are always accessible from any computer, anywhere in the world.  United First Financial has a very sophisticated back up system in the unlikely event of a viral attack.  

 6.

 20.    Do you have access or control of my money?

 

No.  We do not have any access to your accounts.

 

21.    Do I pay interest on the equity line of credit?

 

There is a small interest payment on the average daily balance on your account.  Because your income is sent to your line of credit at different times of the month, the bank only charges you on the average daily balance.  Due to the fact that you are using a portion of the banks funds to pay your expenses or additional principal payments, you never make a scheduled interest payment.

 

22.    Why do the banks allow you to do this and why don’t the banks offer this program?

 

The Money Merge Account Program utilizes the banking principles that are accepted by every bank across the country.   The banks are in the business of writing Home Equity Lines of Credit.  They do not care how you use your line of credit as long as you make your payments on time.  Banks are not in the software business, they are in the banking business.  The equity line of credit just happens to be the tool that helps us set up an interest cancellation account.

 

23.    Does United First Financial give client references on those customers that are currently using the software, and can I contact them?

 

No.   In fact, Due to privacy laws and regulations, UFF will never make available the personal contact information on existing clients.  You can however view actual clients that are using the MMA program on our client DVD’s and are welcome to do research on UFF through the Better Business Bureau or other regulatory agencies.

 

24.    Do I have to change banks? 

 

No.  In fact, UFF suggests that you try and secure your line of credit through the same bank that you have your checking account with.  In some cases it may be in your best interest to secure a checking account and equity line at the same bank if your existing bank does not offer a HELOC. 

 7.

 25.    What happens if I sell my home before I pay it off?

 

The MMA program follows your mortgage for life.  The line of credit you use will

Have no effect on your ability to sell your home.  Once you have sold your home and have purchased a new one, UFF will place the MMA software on the new residence. Starting May 1, 2007 there will be a $100 fee for each time the company recast the numbers to a new home.  The only thing you lose is a ton of interest you would have paid on your old home had you not made the decision to purchase the MMA program.

 

26.    Is there any risk involved?

 

From a financial standpoint, there is little or no risk.  There are no stock market crashes or extreme interest rate fluctuations that could completely eradicate the expected outcome.  If you follow the program and stay within the monthly expense guidelines that you originally stated, the program is 100% guaranteed.

 

27.    Can anyone qualify for the MMA?

 

No.  You MUST be able to qualify for a HELOC.  This generally means that you must have an adequate credit score and have equity in your home.  The only way to find this out is to apply for a line of credit with a lending institution. 

 

28.    I have a negative amortization or interest only loan, will the MMA still work for me?

 

YES.  The MMA will work very well with both of these types of loans as long as you have an adequate amount of discretionary income.  In fact the MMA will give you tremendous results as compared to your current outcome.  These loans are sometimes referred to as Never, Never loans because you will never pay them off and they will never accrue equity.  

 

29.    Do I have to refinance my existing mortgage to make this work?

 

No.  It is not necessary to refinance your existing mortgage.  You may choose to refinance your mortgage for additional interest savings, but is not required for the MMA to work.

 8.

 30.    I own several properties, can I purchase an MMA program for each property?

 

Mathematically, the MMA program will work better on one property at a time.  Applying all of your discretionary income to one property and then moving to the next property after it is paid off.  

 

31.    What if my HELOC is maxed to the limit and there is no excess or reserve as recommended?  Will the MMA still function correctly?

 

The amount of your equity line of credit should be equal to three (3) times your discretionary income plus your monthly income and monthly expenses combined.  Your credit line can be maxed out because you are going to deposit your income and then pay your expenses.  Any monies left in your equity line would be discretionary income.  It is recommended that you try if at all possible to have an adequate reserve in case of an emergency situation.

 

32.    What happens when the MMA program maxes out my credit line?

 

The MMA software program will never max out your line of credit.  There will always be a small balance, but remember the program wants this equity line to function like a checking account.  If you spend more than you deposit, the program may not ask you to make an additional payment or may ask you to make a smaller funds transfer than originally scheduled.

 

33.    What happens if I need to take money out of my equity line for a vacation, or to make a capital expenditure, etc.?

 

This is still your money.  You are free to take money out of your equity line of credit at any time.  Just remember that your payoff time will adjust every time you deposit money or withdraw money.  If you can live with the ramifications of withdrawing great amounts of money, go for it.  It is wise to put the maximum amount possible on a credit card throughout the month in order to keep your daily interest charges as low as possible.  You will find that you will tend to be more frugal with your money once you are using the MMA program.

 9.

 34.    Does the MMA pay off my first mortgage and my HELOC?

 

YES.  When you are given your analysis by your UFF agent, this analysis is telling you that you will be completely debt free in that amount of time.  This includes the first, HELOC, and the original cost of the software.

 

35.    Why can’t I just use a savings account instead of applying for a HELOC?

 

The MMA concept will not benefit someone using their own money from a checking or savings account because the MMA program is designed to use the bank’s money short term, not your money.  There simply is no benefit.

 

36.    Does UFF require a credit check on my clients?

 

NO.  You are required to use your mortgage resources to determine qualifications for the HELOC or call your local Bank for your Home Equity Line options.  Interest Only, Variable Interest Rate.

CALL FOR MORE INFORMATION:  727-433-4777

OUR MORTGAGE FUTURE:

Purchased January 2004 for 240K Mortgage $240,000
Appraised value 2007 $340,000
Looks good, but he paid $64,865.00 in interest over the 5 years. Unrealized gain is $18,435.00. NOT $100,000.00
 
Mortgage interest has eaten away almost all of his capital gain!!!
Now you see why the federal government allows you a 1/2 million dollar capital gain exclusion on your principal residence. It doesn't really exist! His tax return would say $100,000.00, but in reality it's considerably less!


After 2.5 million dollars in development costs, the founders of United First Financial have released a software program that, combined with a home equity line of credit, allows us to accomplish two things…Pay down our mortgage in about one-third of the normal time, thus building EQUITY faster, AND, set up a financial cushion, with instant access to our equity.

This program, called the Money Merge Account Program, was originally field-tested with 400 American Homeowners. Their thoughts and experiences can be read on the UFF site. When reading what the actual users of the program think about UFF, the words “amazing,” “very impressed. “incredibly positive” and “the real deal” just jump off the page. Part of the rapid growth of the company has been through the recommendations of clients to their own friends and family.

The Money Merge Account is a very attractive and practical alternative to refinancing ones home.

It also allows young homeowners to upgrade their homes faster as their family grows, and it requires very little change to their spending habits and no change to their standard of living.


How did the Money Merge Account come to be?

The history of the Money Merge Account began nearly a decade ago, when Skyler Witman and John Washenko launched Accelerated Equity which, in three years, became one of Utah’s fastest growing mortgage companies. But, in the face of all of this growth, Skyler and John began to notice the overwhelming mountain of debt their customers were accumulating. Many were refinancing over and over again (at huge costs). They wanted to help relieve the onerous burdens their customers were encountering.
In the summer of 2002, the partners discovered a method used successfully in Australia and Europe to pay down mortgages in record time. This method required no day-to-day financial impact, while paying off debt and saving hundreds of thousands of dollars in interest. They saw that this method would have two impacts…it would help their clients build equity faster, thus becoming more financially secure, and it would still help them sell more mortgages, as their clients would be in a position to upgrade their homes more quickly. They would be helping their clients build a stronger financial future.
Further research motivated Skyler and John to develop a top-notch IT division and contract with a mathematical engineer from GE Aeronautics to begin creating the mathematical algorithms (math engines) and system programming that would become the very heart of the Money Merge Account software. This software took an already successful equity-building program, and made it easier to use. By taking the guesswork out of it for the homeowner, they increased the savings, too!
Millions of dollars were invested to develop the software, and results from the 400 clients in the initial test program were staggering. They achieved results even better than predicted!

Homeowners with a traditional 30-year mortgage were on track to become mortgage-free in as little as 8 to 11 years, all while paying off other debt in the process!

The reality was a rate of 20% better savings and payoff time (on average) than was initially predicted.

With new partners, and a company name, United First Financial, these mortgage veterans have now launched the Money Merge Account, and this concept is exploding across the nation.

Building equity in a home is a combination of two factors -- paying down the principal on the mortgage, and the rising property value. Building equity in our home is our first step toward security and financial freedom. Equity allows us to trade up into a larger home. Equity gives us leverage to use with other investments. Equity, when used correctly, even gives us a financial cushion in times of need.

But things have changed recently for American property owners. In the past two years, with the costs of homes skyrocketing, Americans have looked for alternative ways to finance their homes, and many have extended themselves to the breaking point to pay for the roof over their head. ARMs (adjustable rate mortgages), interest-only mortgages, and other types of home financing have been used in order to get into a more costly home, with the assumption, by the homeowners, that they will be able to refinance down the road and that the home will continue to increase in value quickly.

So now, a combination of market and economic factors are placing many homeowners in precarious positions. If we think of home ownership and wealth/equity building like sailing ... for many of us the wind is no longer at our back. The wind has died. We are dead in the water and we hope a storm is not approaching.

What are the coming storms? Many ARMs are going to have interest rates adjusted.

end of story.

NEWS 3 WATCHING OUT FOR YOU

KVBC/DT  Los Vegas

Pay off your mortgage years sooner

May 16, 2007 08:18 PM EDT

Owning a home is the American dream. And it remains an unrealized dream for most of us because we never get that mortgage paid off. Until then, the bank owns your home and you pay them interest and lots of it. Often more money in interest than the original price of the home.

But the Saving You Money Team has discovered a new approach to paying your mortgage off a lot sooner. It could save tons of money in interest and turn that dream into a reality years earlier.

It's a coincidence worth noting that an accelerated version of the American dream is coming true at the corner of Promised Land and American Pride.

Jim Snyder: Do you think about that day when you send in that last payment?

Tom Burns: I can't wait. I'm going to have a big smiley face at the end of the check. I'll sign my name with a big smiley face on the end. It'll be nice.

Tom Burns is talking about paying off his mortgage, owning his townhome outright, and not in 30 or even 15 years. "I explain to them that I'm going to have my house paid off in less than 5 years and they think I'm crazy," Tom said.

Tom isn't independently wealthy. He's a working class guy, a valet at a Strip casino. And he isn't nuts either. He made a simple and smart change in his banking behavior: taking all the income he makes and putting it where it can work harder for him.

"I use the money to my advantage," Tom explains. "I use the bank's systems to my advantage. Instead of the bank making money off of me, I'm taking control and you can do it too. It's that easy."

It's a brilliant system that originated about 12 years ago in Australia and has slowly made its way here. Tom uses software he bought from a local company to track his progress. It cost $3,500. No small price tag, but it will save him $300,000 in interest.

Tom had a healthy dose of skepticism going in but figured the upside was worth the risk. "I thought I was just going to get slammed and slammed, but there was no hidden charges, no nothing, it was great."

Here's how it works:

Your paycheck has the potential to soak up some of the debt your mortgage contains. Normally you deposit your paycheck into a checking account which doesn't affect your mortgage. Under this plan, your mortgage becomes your checking account. You put your paycheck in every two weeks and it soaks up some of the debt. In turn, your balance will be lower, you'll pay less interest, and save money.

"You don't even feel it, you're just doing the exact same thing as you used to do, instead of putting it in your checking account put it toward the balance of your line of credit," Tom says.  

Just about anyone can pay off their home using this method but there are three key things you need for it to work for you:

• You have to get control of your finances. It only works if you have more money coming in than going out.
• You need to carefully track what you're spending your money on and when those payments are due.
• You have to qualify for a home equity line of credit.

One message we want to get out to anyone who thinks they might want to give this a try is do your homework and beware of predatory lenders.


CONTACT D.J. FOR MORE INFORMATION ON
MONEY MERGE ACCOUNTS 727.433.4777



Diamante One, Inc., and/or D.J. Shirley and their affiliates makes no claims, warranties and no guarantees of the Free Vacations; Instant Web Sites Unlimited; Interest Saving Programs; Creative Financing; Real Estate; Credit Report Repair; Profit or Interest Saved; Condition of Real Estate and/or Lender/Bank Approvals.  Any and all Real Estate Investment & Mortgage decisions are solely based at the risk of the Investor, Seller and Buyer's discreton, thereby, Diamante One, Inc. and/or D.J. Shirley are held totally harmless.  Time is of the Essence.

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