United First Financial Money Merge Account

I was browsing the Internet looking at the many different websites on the United First Financial Money Merge Account and came across a couple on why the United First Financial Money Merge Account won't work on a property in Texas. Basically, people think if you live in Texas that you won't qualify for the United First Financial Money Merge Account. Well, I'm here to solve your problems.

In a previous post, I explained that you could use other Lines of Credit for the United First Financial Money Merge Account such as a Business Line of Credit or a Personal Line of Credit. Well, by using one of these others Lines of Credit, a person who lives in Texas can qualify for the United First Financial Money Merge Account. Also, if that person happens to own other property in another state (say Florida), they can get a Line of Credit on that property and use it to payoff their mortgage on the property in Texas.

Great, so where can you get these other Lines of Credit? Well, here are some of those places:

US Bank
866-307-3219 ext. 2522
CA, UT, OR, CO, FL

Wells Fargo
888-667-5250
50 States

America One Funding
800-809-0993
50 States

Bank Of America
888-457-2543
50 States

Chase
866-466-8962
50 States

National City
800-622-4036
50 States

Key Bank
800-539-3253
AK, CO, CT, ID, IN, KY, ME, MI, NY, OH, OR, UT, VT, WA

Regions Bank
800-588-1267
AL, AR, FL, GA, IA, IL, IN, KY, LA, MO, MS, NC, SC,
TN, TX, VA

Nationwide Unsecured
877-777-9933
50 States

I hope this information helps some of the potential clients and Agents of the United First Financial Money Merge Account.

Get Your Free Money Merge Account Analysis Today!
Become a United First Financial Agent and offer the Money Merge Account
Got a Question? Call Charles at 561.756.4279 or email me at xavier687@yahoo.com

Some of the questions I've been asked about the United First Financial Money Merge Account are about fees associated with the following situations:

1) What would happen if a person on the United First Financial Money Merge Account were to sell their home
2) After they paid off their home if they can transfer the United First Financial Money Merge Account to another property.

Well, a couple of days ago, all Agents received a notice from United First Financial Corporate addressing the restructuring and transfer fees of the Money Merge Account. I thought it would be a good idea to post them here this way your know exactly what they are.

a) If you refinance your First Mortgage or HELOC on the subject property, then the fee to restructure is $100

b) If you sell your current home and the mortgage WASN'T completely paid off yet with the United First Financial Money Merge Account, then you can transfer the United First Financial Money Merge Account to your new property and pay down that mortgage for a fee of $100

c) If you sell your current home and the mortgage WAS completely paid off with the United First Financial Money Merge Account, then you can transfer the United First Financial Money Merge Account to your new property and pay down that mortgage for a fee of $500

d) After your subject property's mortgage is paid off with the United First Financial Money Merge Account, you can transfer it to another property (like a second home or investment property) and payoff that mortgage for a fee of $500

This is great news since many people think that once they paid off their mortgage on one property, they would have to pay the full fee again for the next property they want to payoff. As you can see, this is not the case.

I hope this information clears up a lot of the debate on the United First Financial Money Merge Account and if you have any other questions, feel free to call or email me.

Get Your Free Money Merge Account Analysis Today!
Become a United First Financial Agent and offer the Money Merge Account
Got a Question? Call Charles at 561.756.4279 or email me at xavier687@yahoo.com

I received a call last week from an Agent in San Diego. This happen a lot since many Agents find my blog and website because the rankings I have on Google. I couldn't tell you how many contact me thinking my office is the home office of United First Financial, but I'm always pleasant and willing to help out even though they aren't part of my group.

Anyway, one of questions she has was, "Will the Money Merge Account work on an interest only loan?" She told me that a mortgage broker stated that the Money Merge Account won't work on these types of mortgages or negative amortization loans. So, to clarify things I want to say that the Money Merge Account WILL work with interest only and negative amortization loans. How? Well let me explain%u2026

The number one component that drives the Money Merge Account is discretionary income. This is not the only component, but the most important. As long as the client has enough discretionary income to cover the difference between what the fully amortized payment and the interest only or negative amortization payment are, then the Money Merge Account will work.

For example:

$200,000, 30 Year Fixed Mortgage at 6% = $1,199.10 monthly payment

$200,000, Interest Only Mortgage at 6% = $1,000.00 monthly payment

Difference between payments is $199.10 monthly.

In the above example, the difference between the payments is $199.10 monthly. Therefore, in order for the Money Merge Account to work for this person, they need to have at least $199.10 in discretionary income.
I had a client call the other day and we were on the phone for a while. He told me he liked to use the Money Merge Account from United First Financial to help pay down his home, but he didn't have any equity to get a Home Equity Line of Credit.

At that point things looked grim, but I asked if he owned any other properties which might have some equity in them. He said he had an investment property with plenty of equity and could get a Home Equity Line of Credit (HELOC) on it. Bingo! Needless to say, he is in the process of getting the HELOC and we are moving forward with the Money Merge Account.

This is another reason why I like the Money Merge Account so much. You can use a HELOC from another property you own to pay down the mortgage on a different property. This is great because if you were trying to use the Money Merge Account to pay down the loan on a commercial property or piece of land, chances are you couldn't get a HELOC on those types of properties. But, you could get a HELOC on your primary residence and then use the HELOC with the Money Merge Account to pay down your mortgage on the commercial or land. Very Cool!!!

So, if you want to use the Money Merge Account from United First Financial to pay down you mortgage and you don't have enough equity in the property to qualify for the HELOC, let me know if you have another property with some equity in it and we can get the HELOC on that property.

Get Your Free Money Merge Account Analysis Today!
Become a United First Financial Agent and offer the Money Merge Account
Got a Question? Call Charles at 561.756.4279.

I was talking to my brother on the phone last night and he was telling me that he is currently escrowing for his taxes (he lives in a condo, so there is no escrow for the insurance). His escrow payment is $372.04 a month! YIKES! Anyway, I asked him why he was escrowing for his taxes since he was on the Money Merge Account?

So, we started talking and I said to him that if he could remove his escrow account and instead pay the taxes himself through the Money Merge Account, he would payoff his mortgage sooner. Now this sounded stupid since he has to pay his taxes anyway, why not just escrow them. So, I asked him to log on to his Money Merge Account when he got home and run the scenario and email the results.

Well, I am happy to say that my brother's payoff went from 5.75 years down to 5.25 years! That is 6 months of mortgage payments gone just from not escrowing! He will still pay his taxes in November of every year, but did you ever think this was possible?!

So, how is this possible? Here is the answer:

Instead of the $372.04 sitting in the bank's account, he will now have $372.04 more being deposited into his Money Merge Account HELOC. This will bring down his daily average balance more, thus allowing the Money Merge Account Software to make more principal transfers.

He was able to run this scenario in his Money Merge Account Software and put a future payment every November for his taxes. The Money Merge Account Software will notify him of the upcoming payment for his taxes and he can pay for his taxes right from his HELOC.

This is a great example of why homeowners need the Money Merge Account from United First Financial. Most people would simply think that since you have to pay your taxes anyway, why not just escrow. Most would never think that they could save 6 months or more in mortgage payments simply by not escrowing. If these people were on the Money Merge Account, they would be able to utilize the interest cancelation effects of the Money Merge Account to make this happen.

But, most people are just looking at the price tag for this program or thinking all they have to do is make extra payments to their mortgage to save. They don't realize that the Money Merge Account will save them more in the long run. Oh well, maybe after reading this post, more people will realize the benefits of the Money Merge Account and contact me to get on the program.

Get Your Free Money Merge Account Analysis Today!
Become a United First Financial Agent and offer the Money Merge Account

I received some calls and emails from the Money Merge Account Analysis I did this week for some clients. Many of these clients had some money in their checking and savings accounts and I included this money in the Money Merge Account Analysis. Basically, the Money Merge Account Analysis assumes the money in your checking and savings account will be used to pay down the mortgage, but many people had a hard time with this.

The main objection people had with this is they wanted to keep the money in their checking and savings account separate in case of an emergency. When people tell me this, I assume they really don't understand how exactly the Home Equity Line of Credit they will get to utilize the Money Merge Account will solve this concern for them. So, here how the Home Equity Line of Credit will help them sleep better at night and not worry about using the money in their checking and savings account for the Money Merge Account.

A Home Equity Line of Credit (HELOC) basically works in the same manner as a credit card and checking account combined. First let's look at the credit card scenario:

When you get a credit card from a company, they tell you what your credit limit is and your interest rate. If you credit limit is $10,000, this means you can borrower up to $10,000 on the credit card. You only get charged interest on what you truly borrower on the credit card, so, if you credit limit is $10,000, but you only borrower $2,000, then you will only get charged interest on the $2,000 you borrowed.

This is the same for a HELOC. If you open a HELOC for $100,000 (this is the same as your credit limit), but only borrower $2,000, then you will only be charged interest on the $2,000 you borrowed. Makes sense, doesn't it.

Next let's look at the HELOC as a checking account.

When ever you need money, you can access your HELOC just like you would your checking account. So, when a bill is due, you can write a check from your HELOC to pay it.

Now let's look at the following scenario and see if you follow why it is better to put your money sitting in your checking and savings account into your HELOC.

Let's say you have HELOC for $100,000 at 8.00% and you have a balance of $10,000 on it. You also have $10,000 sitting in your savings account and it is earning you 2.00%.

The payment on your HELOC would be $66.67 a month ((10,000 * 8%) / 12) or $800 for the year. The earnings on your savings account would be $16.67 a month ((10,000 * 2%) / 12) or $200 for the year. Therefore, by keeping your money separate, it is costing you $50.00 a month ($66.67 - $16.67) or $600 a year.

Now, wouldn't it be better to payoff the $10,000 on your HELOC with the $10,000 in your savings and save yourself $600 a year in payments? If you ever needed the $10,000 for whatever reason, you could easily write a check for the HELOC to your saving account and get the money back. Do you agree?

After I am done explaining this to people, they understand my reasoning. You are not in any way losing your money, just putting it to better use.

I understand that many of us have a subconscious dilemma that we think we would be broke if our checking and savings account had a $0 balance, but once you understand the concept, you will be able to sleep just fine at night.

Get Your Free Money Merge Account Analysis Today!
Become a United First Financial Agent and offer the Money Merge Account
Got a Question? Call Charles at 561.756.4279.

I have been getting a lot of emails lately, probably because this blog is now #3 on Google for the keyword Money Merge Account. Anyway, most of the emails are questions asking what are the requirements for someone to get started on the Money Merge Account? Well, let me get that question answered for you.

1. A person needs to be able to qualify for the Home Equity Line of Credit (HELOC) or a credit line with similar features, therefore, you have to have pretty decent credit. The HELOC must have the following features:
a. Has to be a variable loan
b. Has to have interest only payments
c. Has to apply payments daily
d. Has to have check writing/debit capabilities
e. CANNOT have automatic payments taken from your checking account

2. You have to have some equity in the property. People who owe more then their property is currently worth cannot use the Money Merge Account UNLESS they have another property with equity in it for them to get the HELOC. Yes, you can use a HELOC from a different property to payoff another, even one that is not yours (pretty cool don't you think).

3. You have an Internet connection since the Money Merge Account is a web-based software. If you are viewing this blog, then I think it is safe to say you already have an Internet connection.

4. You have to run a Money Merge Account Analysis to see if they program will be beneficial to you and how much of a HELOC you will need.

That is basically it, I know you were expecting more, but truth be told, the Money Merge Account really isn't a difficult program to qualify obtain. If you have any questions, please email me at xavier687@yahoo.com or call me at 561.756.4279.

Get Your Free Money Merge Account Analysis Today!
Become a United First Financial Agent and offer the Money Merge Account
Got a Question? Call Charles at 561.756.4279.

This was a cool way my brother showed me on how to gain an extra 6 months off your mortgage and rewards by using an American Express credit card with the Money Merge Account.

The secret to paying off your mortgage with the Money Merge Account is all about interest cancellation and the amount of time your money can sit in the HELOC. The problem is bills come throughout the month and most people pay them right when they get them. Instead of paying your monthly bills from your HELOC, why not put them on an American Express card and then payoff the credit card at the end of the month.

American Express charges an annual fee on the One Card, but doesn't charge you interest if the balance is paid in full every month. So, you charge any bill you can to the American Express card and then pay it off at the end of the month.

By doing this, you will see that you payoff your mortgage about 6 months faster AND you earn rewards from American Express from all the charges you put on the card. So, my brother choose the One Card since it pays him 1% of his monthly balance and puts that money in a high yield savings account. At the end of the year, he can withdraw the money and apply it to his mortgage. What a great idea!!!

Now, you can't put all your bills on the American Express Card. His electrical company, FPL, wouldn't allow him to charge his bill, but almost every other bill he had would.

If you are on the Money Merge Account program, run the scenario yourself to see how much sooner you will payoff your mortgage by doing this.

See How Fast Your Mortgage and Debt can be Paid Off! Get Your Free Money Merge Account Analysis Today!

I had a client call the other day and we were on the phone for a while. He told me he liked to use the Money Merge Account to help pay down his home, but he didn't have any equity to get a Home Equity Line of Credit.

At that point things looked grim, but I asked if he owned any other properties which might have some equity in them. He said he had an investment property with plenty of equity and could get a Home Equity Line of Credit (HELOC) on it. Bingo! Needless to say, he is in the process of getting the HELOC and we are moving forward with the Money Merge Account.

This is another reason why I like the Money Merge Account so much. You can use a HELOC from another property you own to pay down the mortgage on a different property. This is great because if you were trying to use the Money Merge Account to pay down the loan on a commercial property or piece of land, chances are you couldn't get a HELOC on those types of properties. But, you could get a HELOC on your primary residence and then use the HELOC with the Money Merge Account to pay down your mortgage on the commercial or land. Very Cool!!!

So, if you want to use the Money Merge Account from United First Financial to pay down you mortgage and you don't have enough equity in the property to qualify for the HELOC, let me know if you have another property with some equity in it and we can get the HELOC on that property.

Get Your Free Money Merge Account Analysis

I received a call last week from an Agent in San Diego. This happen a lot since many Agents find my blog and website because the rankings I have on Google. I couldn't tell you how many contact me thinking my office is the home office of United First Financial, but I'm always pleasant and willing to help out even though they aren't part of my group.

Anyway, one of questions she has was, "Will the Money Merge Account work on an interest only loan?" She told me that a mortgage broker stated that the Money Merge Account won't work on these types of mortgages or negative amortization loans. So, to clarify things I want to say that the Money Merge Account WILL work with interest only and negative amortization loans. How? Well let me explain%u2026

The number one component that drives the Money Merge Account is discretionary income. This is not the only component, but the most important. As long as the client has enough discretionary income to cover the difference between what the fully amortized payment and the interest only or negative amortization payment are, then the Money Merge Account will work.

For example:

$200,000, 30 Year Fixed Mortgage at 6% = $1,199.10 monthly payment

$200,000, Interest Only Mortgage at 6% = $1,000.00 monthly payment

Difference between payments is $199.10 monthly.

In the above example, the difference between the payments is $199.10 monthly. Therefore, in order for the Money Merge Account to work for this person, they need to have at least $199.10 in discretionary income.

Now, discretionary income can come from a number of places. It is not just left over money once all your other bills are paid. It can also come from payments toward a debt.

For example, a person has $10,000 in credit card debt that they are paying $400 a month. The current rate on a Home Equity Line of Credit (HELOC) is 7.50%. If we were to put the $10,000 in credit card debt on the HELOC, the payment would be $62.50. The difference between these payments is $337.50. Therefore, the Money Merge Account would utilize a portion of the $337.50 towards the client's discretionary income.

I actually just ran a Money Merge Account Analysis for a client who has a situation similar to the one above and they knocked 10 years off their interest only mortgage.

The same would hold true for someone with a negative amortization loan. As long as they have enough discretionary income to cover the difference between the minimum payment and fully amortized payment then the Money Merge Account would work for them as well.

I hope this clears up some misconceptions of the Money Merge Account. If you haven't done so, let me run your Free Money Merge Account Analysis and see the results for yourself.

Free Money Merge Account Analysis

I received some calls and emails from the Money Merge Account Analysis I did this week for some clients. Many of these clients had some money in their checking and savings accounts and I included this money in the Money Merge Account Analysis. Basically, the Money Merge Account Analysis assumes the money in your checking and savings account will be used to pay down the mortgage, but many people had a hard time with this.

The main objection people had with this is they wanted to keep the money in their checking and savings account separate in case of an emergency. When people tell me this, I assume they really don't understand how exactly the Home Equity Line of Credit they will get to utilize the Money Merge Account will solve this concern for them. So, here how the Home Equity Line of Credit will help them sleep better at night and not worry about using the money in their checking and savings account for the Money Merge Account.

A Home Equity Line of Credit (HELOC) basically works in the same manner as a credit card and checking account combined. First let's look at the credit card scenario:

When you get a credit card from a company, they tell you what your credit limit is and your interest rate. If you credit limit is $10,000, this means you can borrower up to $10,000 on the credit card. You only get charged interest on what you truly borrower on the credit card, so, if you credit limit is $10,000, but you only borrower $2,000, then you will only get charged interest on the $2,000 you borrowed.

This is the same for a HELOC. If you open a HELOC for $100,000 (this is the same as your credit limit), but only borrower $2,000, then you will only be charged interest on the $2,000 you borrowed. Makes sense, doesn't it.

Next let's look at the HELOC as a checking account.

When ever you need money, you can access your HELOC just like you would your checking account. So, when a bill is due, you can write a check from your HELOC to pay it.

Now let's look at the following scenario and see if you follow why it is better to put your money sitting in your checking and savings account into your HELOC.

Let's say you have HELOC for $100,000 at 8.00% and you have a balance of $10,000 on it. You also have $10,000 sitting in your savings account and it is earning you 2.00%.

The payment on your HELOC would be $66.67 a month ((10,000 * 8%) / 12) or $800 for the year. The earnings on your savings account would be $16.67 a month ((10,000 * 2%) / 12) or $200 for the year. Therefore, by keeping your money separate, it is costing you $50.00 a month ($66.67 - $16.67) or $600 a year.

Now, wouldn't it be better to payoff the $10,000 on your HELOC with the $10,000 in your savings and save yourself $600 a year in payments? If you ever needed the $10,000 for whatever reason, you could easily write a check for the HELOC to your saving account and get the money back. Do you agree?

After I am done explaining this to people, they understand my reasoning. You are not in any way losing your money, just putting it to better use.

I understand that many of us have a subconscious dilemma that we think we would be broke if our checking and savings account had a $0 balance, but once you understand the concept, you will be able to sleep just fine at night.

See How Fast Your Mortgage and Debt can be Paid Off! Get Your Free Money Merge Account Analysis Today!

I have been getting a lot of emails lately, probably because this blog is now #3 on Google for the keyword Money Merge Account. Anyway, most of the emails are questions asking what are the requirements for someone to get started on the Money Merge Account? Well, let me get that question answered for you.

1. A person needs to be able to qualify for the Home Equity Line of Credit (HELOC) or a credit line with similar features, therefore, you have to have pretty decent credit. The HELOC must have the following features:
a. Has to be a variable loan
b. Has to have interest only payments
c. Has to apply payments daily
d. Has to have check writing/debit capabilities
e. CANNOT have automatic payments taken from your checking account

2. You have to have some equity in the property. People who owe more then their property is currently worth cannot use the Money Merge Account UNLESS they have another property with equity in it for them to get the HELOC. Yes, you can use a HELOC from a different property to payoff another, even one that is not yours (pretty cool don't you think).

3. You have an Internet connection since the Money Merge Account is a web-based software. If you are viewing this blog, then I think it is safe to say you already have an Internet connection.

4. You have to run a Money Merge Account Analysis to see if they program will be beneficial to you and how much of a HELOC you will need.

That is basically it, I know you were expecting more, but truth be told, the Money Merge Account really isn't a difficult program to qualify obtain. If you have any questions, please email me at xavier687@yahoo.com or call me at 561.756.4279.

See How Fast Your Mortgage and Debt can be Paid Off! Get Your Free Money Merge Account Analysis Today!

I recently wrote an article which was published online about the different mortgage acceleration programs and why I think the Money Merge Account is the best of them. For those of you interested, you can read the article online here: Money Merge Account: Facts and Fiction.

See How Fast Your Mortgage and Debt can be Paid Off! Get Your Free Money Merge Account Analysis Today!

In case you didn't know, I am a mortgage broker here in South Florida and have been for more then 10 years. Everyday I hear about more and more of my Lenders and fellow Mortgage Brokers going out of business. There is a real slow down in the amount of refinances and purchases (who wants to purchase a home in South Florida when the market is going down) and mortgage brokers need to change with the times.

I use to buy many mortgage leads from various companies and 97% of them never turned into a sale. Problem is most people who apply on the internet for a mortgage proposal are just checking the interest rates out and have no intension of ever doing anything. They have a good rate already so what is the use of refinancing.

But what I have found is offering these people the Money Merge Account is a great way to make extra income and help them out. Realistically, people refinance to save money because they think they will be married to their mortgage for the next 30 years or so. But, if they had a way to help them pay it off faster without cutting into their lifestyle, then where is the problem.

I recently meet with a company here in Florida which has many loan officers and buys a ton of internet leads a month. I told them they should get involved with the Money Merge Account and start calling on all their old leads. I know they have plenty and if a couple of them got on the Money Merge Account, it would make up for the money they lost on the mortgage leads. Plus, I'm sure the clients would be more then happy to refer more people to them for the Money Merge Account.

It is a tough environment right now for all of us in the mortgage industry and we need to change with the times. Refinancing and Purchases are really slow, so what are you going to do to stay in business, but mostly important do good for your clients? I know every client I set up on the Money Merge Account thanks me greatly for introducing this program to them and I get a lot of referrals.

If you are a mortgage broker, then give me a call at 561.756.4279 so we can talk about getting you setup to offer the Money Merge Account to your clients.

See How Fast Your Mortgage and Debt can be Paid Off! Get Your Free Money Merge Account Analysis Today!

Even though I'm a mortgage broker and can get HELOCs for my clients, I prefer to do the right thing and make it more convenient by referring them to the bank they are current hold their checking accout with. Why do this? Well, let's look at the benefits:

1) Most banks have no closing cost HELOCs. This means the bank will pay all the closing costs on the HELOC for the client, which basically gives them a free loan. I would have to charge them a fee to do this, so why not let them get it for free.

2) Bank can bend the rules. Most banks will bend the rules for a client if they have a current banking relationship, so people who I normally couldn't get a HELOC for have a better chance if they go straight to their bank.

3) Online banking is easier. Most banks have online banking and with both the checking account and HELOC at the same bank it makes it faster and easier for the client to transfer their money to their HELOC rather then sending away a check.

4) Bank close faster. I have a loan officer over at Wachovia who closes my client's HELOC in a matter of 5 bsuiness days. I usually takes me 2 weeks to do this, so why hold up the client?

5) Better rates. Most banks will give a client .25% to .50% off their HELOC rate if they have a checking account. I know Bank of America just gave one of my clients .50% off their HELOC because they have a checking account with them.

When you look at all the benefits of sending the client to the bank they current have their checking account with to get the HELOC, it is a no-brainer. I could sit here and try to get the clients the HELOCs myself, but I would be doing them more harm then good. So, if you are a loan officer reading this, do the right thing for your clients and refer them to their bank for the HELOC.

A happier client will refer you more business then a pissed off one.

See How Fast Your Mortgage and Debt can be Paid Off! Get Your Free Money Merge Account Analysis Today!

Now, discretionary income can come from a number of places. It is not just left over money once all your other bills are paid. It can also come from payments toward a debt.

For example, a person has $10,000 in credit card debt that they are paying $400 a month. The current rate on a Home Equity Line of Credit (HELOC) is 7.50%. If we were to put the $10,000 in credit card debt on the HELOC, the payment would be $62.50. The difference between these payments is $337.50. Therefore, the Money Merge Account would utilize a portion of the $337.50 towards the client's discretionary income.

I actually just ran a Money Merge Account Analysis for a client who has a situation similar to the one above and they knocked 10 years off their interest only mortgage.

The same would hold true for someone with a negative amortization loan. As long as they have enough discretionary income to cover the difference between the minimum payment and fully amortized payment then the Money Merge Account would work for them as well.

I hope this clears up some misconceptions of the Money Merge Account. If you haven't done so, let me run your Free Money Merge Account Analysis and see the results for yourself.

Get Your Free Money Merge Account Analysis Today!
Become a United First Financial Agent and offer the Money Merge Account
Got a Question? Call Charles at 561.756.4279.

In my last post about John Doe and his Financial Planner/CPA telling him to invest his discretionary income instead of paying off his mortgage early, we saw that John Doe would payoff a $200K First Mortgage at 6% Fixed Interest for 30 Years in about 10.4 years or 125 months. When I did this example I input John Doe's income as bi-weekly. Believe it or not, if you are an employee who gets paid bi-weekly, you will payoff your loan faster with the Money Merge Account then if you applied your discretionary income yourself to your mortgage. Don't believe me? Let's run some numbers:

Bankrate.com has a easy to use mortgage amortization schedule which allows you to see how fast you can payoff your mortgage if you applied more to principal. You can view it here: Bank Rate Mortgage Amortization Calculator

Now, let's input John Doe's scenario: $200,000 Loan, 30 year Fixed at 6% and we get a payment of $1,199.10. Now lets input $500 in the box for adding additional monthly funds to your mortgage. The calculator tells us that John Doe would payoff his mortgage in 14 years and 11 months.

But wait!!! Charles, you are wrong!!! John Doe gets paid bi-weekly, so that $500 in discretionary income is more! You are right, John Doe actually gets paid 26 paychecks a year, not 24. In case you don't understand, there are 52 weeks in a year, so a bi-weekly person gets a check every other week or 26 total paychecks. So, his monthly discretionary income is really $500 x 13 = 6500 / 12 = $541.

So, if we put $541 in the calculator, we see that John Doe will payoff his mortgage in 13 years and 10 months. Still, it doesn't beat the Money Merge Account of 10.4 years.

Why is that? The answer to your question is cash flow and interest cancelation. Because the Money Merge Account Software knows the customer gets paid more frequently it will apply more from the HELOC to the first mortgage to pay it off faster and take more advantage of the interest cancelation.

So, let's see. John Doe and make the principal payments himself and will pay more then 3 full years of mortgage payments or $43,164+ OR he can use the Money Merge Account software, pay $3500 and save $39,000+. Which one do you think he should do???

Truth of the matter is anyone who gets paid bi-weekly from their employer needs to have a Money Merge Account and use the Software. Numbers don't lie.

If you are a bi-weekly employee and would like to talk to me about the Money Merge Account, please contact me at xavier687@yahoo.com or call me at 561.756.4279.

See How Fast Your Mortgage and Debt can be Paid Off! Get Your Free Money Merge Account Analysis Today!

If there is one thing I can't stand is people who think paying off your home is a bad thing. I talk to many people and most of them talk to their Financial Planners or CPAs and want to get their opinion on the Money Merge Account. The most common response I get is their Financial Planner/CPA said that instead of paying off their mortgage to use their discretionary income and invest it.

Now, I'm not a Financial Planner or CPA, but I do have common sense. I've ridden the investment roller coaster many times and lost my butt (remember the Internet boom in 1998). So, I don't understand how someone can give advice where it would be better for a person to put money in an investment instead of paying off their mortgage FIRST, THEN investing.

To put this to rest, let's look at some hard numbers:

John Doe gets paid bi-weekly and has $500 in discretionary income. He has a mortgage of $200,000 at 6% 30 years fixed which has a payment of $1,199. Using the Money Merge Account, he would pay it off in 10.4 or 125 months.

Now, click on the below link to go to a investment calculator:

Investment Calculator

Let's say John Doe instead of using the $500 a month to payoff his mortgage instead invested it and was able to get an 8% yearly return (remember to put the starting balance at $0). Punch this into the calculator and we get $745,179.75. Not bad.

Now let's do the same thing, but we are going to decrease the number of years to 19 (because he spends the first 10.4 paying off his mortgage) and increase the amount we contribute to $1,699 (which is his mortgage payment plus the $500 discretionary income). By doing this, he would end up with $904,518.69.

So, by paying off his mortgage first and then investing his mortgage payment and discretionary income, John Doe ended up with $159,338.94 more. The great thing about this is John Doe's mortgage is paid off, so even if the investment started to do badly, he can always use the money somewhere else, BUT HIS MORTGAGE IS PAID!!!

So, do you think your Financial Planner/CPA really has your best interest in mind??? Think about it, even if the numbers were reversed, would you sleep better at night knowing your mortgage is paid off and you had $159,338.94 less after 30 years? I don't think you would hate me for that.

See How Fast Your Mortgage and Debt can be Paid Off! Get Your Free Money Merge Account Analysis Today!

Even though refinancing is not required to participate in the Money Merge Account, sometimes it could save a person a number of years off their mortgage. I had a client call me up asking about the program after I emailed him a link to the online presentation. Their current mortgage was an option ARM (negative amortization loan) and they owed some money on their second mortgage and credit cards.

I first did a Money Merge Analysis without refinancing any of their debt and their numbers showed they would payoff their mortgage in 8.4 years. Not bad...

I then did another Analysis with refinancing their first mortgage, second mortgage and credit card debt into a new 30 year fixed rate first mortgage and they would payoff their loan in 6.4 years. Now that's cool!!!

So, I can easily show the client that by refinancing their mortgage, it would save them 2 years worth of mortgage payments! Just so everyone knows, I'm doing the refinance as a no-closing-cost deal so their principal balance doesn't increase. Even though the rate on these deals is higher it didn't even add a month to their loan payoff.

I love this program!!!

See How Fast Your Mortgage and Debt can be Paid Off! Get Your Free Money Merge Account Analysis Today!

The Money Merge Account is not free. United First Financial charges $3500 for the software to help walk a person through the process and track their results. While most people look at this as an out-of-pocket expense, the truth is most of us agents have the client borrow the money from their ALOC (a fancy name for a home equity line of credit). Gotta love America, borrow money from the bank to pay them back faster!!!

I think my brother said it best, "I know that I'm going to follow the program since I have an investment in it." Very wise words.

It is true, you can easily make extra principal payments and you will achieve similar results, but if you aren't doing it now, then when will you? Also, how long will you continue to do it and at what point will you stress yourself out because you don't have a "rainy day fund".

If you are they type of person (and you know if you are) who is the champion of half finished projects, then this program is definately right for you. The investment in the program and software will make sure you stick to the plan, won't stress yourself out and get your mortgage paid off early.

See How Fast Your Mortgage and Debt can be Paid Off! Get Your Free Money Merge Account Analysis Today!

Channel 3 News from Las Vegas recently did a report on the Money Merge Account. Check out the video!!!

See How Fast Your Mortgage and Debt can be Paid Off! Get Your Free Money Merge Account Analysis Today!

Most homeowners realize they will pay about twice the purchase price of their home on a traditional mortgage-a mortgage that will take about 30 years to pay off.

Introducing a way to break that cycle of financial drain-the Money Merge Account. Developed by a team of financial experts with years of experience in the mortgage industry, the Money Merge Account rapidly reduces the principal of your mortgage, practically eliminating the interest from accruing on your loan. Your 30-year mortgage can now be paid off in about 8 to 11 years, with no change to your lifestyle or refinancing of your existing mortgage.

The Money Merge Account is not a bi-weekly payment or debt roll-down system. It's an entirely new approach that gives homeowners flexibility with their money and complete financial freedom.

The Money Merge Account consists of three major components:

1. Your Existing Primary mortgage

The existing mortgage on your home is the foundation for the Money Merge Account.

2. An Advanced Line of Credit (ALOC) The Money Merge Account Program uses an advanced equity line of credit as a vehicle or a tool to drive the program. The equity line of credit must have the capacity to operate similarly to a primary checking account and be set up with an open-end interest calculation (rather than a closed-end interest calculation). Combined with the Money Merge Account's web-based system, this creates a formula in which the money in your line of credit account generates an interest cancellation on your primary mortgage.

3. Money Merge Account software The online Money Merge Account system makes a connection between your bank account, the advanced line of credit, and your primary mortgage. Each time you deposit income into your account, it registers as a decrease to your mortgage balance. By decreasing your mortgage balance, you now lower the balance on which interest accrues. By decreasing the balance on which interest accrues, you increase the portion of your monthly payment which is credited toward your principal pay down. The algorithms in the proprietary Money Merge Account system are systematically programmed to create the highest interest savings possible in the least amount of time.

How to Utilize the Money Merge Account:

1. Deposit Your Paycheck: Deposit your paycheck into your current checking and/or savings account. As soon as the funds clear, the amount you designate is transferred from your checking and/or savings account into your Money Merge Account managed line of credit. Because the line of credit is connected to your home, the money transferred from your checking and/or savings accounts decreases your mortgage balance, thus reducing the balance in which interest builds.

2. Pay Your Bills: Throughout the month, you pay your bills using your Money Merge Account managed line of credit. With this account, money is immediately available through checks, debit cards, and ATMs. The amount left after bills have been paid remains against the balance of your mortgage until you need it, keeping your mortgage balance as low as possible, further reducing mortgage interest charges.

3. Follow the system: Follow the promptings of the online Money Merge Account system to maximize your savings and pay your mortgage off as quickly as possible.

See How Fast Your Mortgage and Debt can be Paid Off! Get Your Free Money Merge Account Analysis Today!

I have been getting a lot of emails and calls recently concerning the question of why can't you have your HELOC payments automatically taken from your checking account when you are the United First Financial Money Merge Account. Well, I thought I would address this as a post since it seems it is a hot topic.

It is true that most banks will give you a lower rate on your HELOC if you elect to have payments for the HELOC automatically withdrawn from your checking account. The interest rate savings varies from each bank as is usually about .25% to .50%. So, instead if getting a 8.00% rate on your HELOC, you could get a 7.75% to 7.50% rate. Sounds good, but wait.

The main reason why I tell clients not to elect for the automatic payments is because you run into two problems:

1) Increasing your payoff time on the United First Financial Money Merge Account
2) Running the risk of overdraft charges

Let me address both these issues.

1) In order for the United First Financial Money Merge Account to work the best, you should never have money sitting in your checking/savings account and it should all be in your HELOC. Therefore, you should always have a $0 balance in your checking/savings account.

When you elect to have automatic payments on your HELOC, the bank will take the payment on the HELOC from your checking account. Therefore, you will have to transfer funds from your HELOC to your checking account or not transfer all the money in your checking account to your HELOC to make sure you have the funds available to make the payment.

Yes, your funds transfer from your checking account to your HELOC should count as a payment, so you shouldn't owe a payment to the HELOC, but some banks have a minimum financial charge or fee for the automated payments. This minimum finance charge or fee will be taken from your checking even if you tranfer your funds from your checking to HELOC.

2) If the bank tries to take money from your checking account for the payment and there isn't enough there, then they could charge you an overdraft fee. I have seen these fee as high as $50 for each occurance. Therefore, to safeguard yourself, you will have to keep money in your checking account instead of keeping in your HELOC.

So, you can see why having the automatic payments on your HELOC is a problem when you are on the United First Financial Money Merge Account. My advice is don't worry about the saving on your HELOC rate as the potential problem of overdraft fees and increasing your payoff time is a bigger problem then a .25% to .50% savings on your HELOC rate.

Get Your Free Money Merge Account Analysis Today!
Become a United First Financial Agent and offer the Money Merge Account
Got a Question? Call Charles at 561.756.4279 or email me at xavier687@yahoo.com

I have been getting some emails recently from potential clients whos credit is preventing them from getting a Home Equity Line of Credit for the United First Financial Money Merge Account. So, to help out I decide to provide a Credit Repair Guide which was sent to me showing how to repair your credit. The Credit Repair Guide goes over step-by-step how to repair your credit and even has some sample letters to send the Credit Reporting Agencies.

You are more then welcome to download and use the Credit Repair Guide to help repair your credit on your own, but I am not responsible for anything that should happen by you using this guide. Also, if you don't have time to repair your credit on your own or have trouble, you might want to hire a company that does this for you. One good company to contact is Credit Financial Solutions, Inc. Here is their info:

Credit Financial Solutions, Inc.
John Grimm
4403 1st Ave. SE, Suite L3
Cedar Rapids, IA 52402
319-294-6651
877-294-6651 (toll free)
jgrimm@creditfinancialsolutions.com
www.creditfinancialsolutions.com

They can help get your credit repaired and then you are on your way to getting your HELOC for the United First Financial Money Merge Account. Hope this helps!
Get Your Free Money Merge Account Analysis Today!
Become a United First Financial Agent and offer the Money Merge Account
Got a Question? Call Charles at 561.756.4279 or email me at xavier687@yahoo.com

I just wanted to say "Thank you" to Rebeca G. She is an Agent with United First Financial who is not part of my team, just someone who read my blog on the Money Merge Account.

She wasn't getting the support she needed from her team, so she wanted to know if I could help her out. Even though she wasn't on my team I gave her the advice she needed. She called me again about a month later and again I helped her out.

I know my experience in the mortgage industry helps a lot with some of the questions clients and agents have with the Money Merge Account. I just feel that helping people out is the right thing to do.

Anyway, I was away for the holidays and she left me the sweetest voice message expressing her gratitude for my help. It really made me happy! Just thought I would share that with you all.
Get Your Free Money Merge Account Analysis Today!
Become a United First Financial Agent and offer the Money Merge Account
Got a Question? Call Charles at 561.756.4279 or email me at xavier687@yahoo.com

There are many people who want to get going with the United First Financial Money Merge Account, but have trouble getting a Home Equity Line of Credit (HELOC). The main reason why people don't qualify is they don't have equity in the property you want to payoff.

I wrote in an earlier post (Money Merge: Account Use a HELOC from any property to pay down your mortgage) how you can use a HELOC from another property if you don't have equity in the one you want to pay down. But, what if you don't own another property or the other properties you own also don't have equity? Well, you can also use two different Lines of Credit which will work with the United First Financial Money Merge Account. They are:

1) Business Line of Credit
2) Personal Line of Credit

As long as the above Lines of Credit have the required features in order to utilize them with the United First Financial Money Merge Account then you are good to go. Here are the Line of Credit requirements again so you don't have to go digging for them:

The HELOC must have the following features:
a. Has to be a variable loan
b. Has to have interest only payments
c. Has to apply payments daily
d. Has to have check writing/debit capabilities
e. CANNOT have automatic payments taken from your checking account

I hope this information is helpful for those of you wanting to get started on the United First Financial Money Merge Account. If you have a question, give me a call at 561.756.4279.
Get Your Free Money Merge Account Analysis Today!
Become a United First Financial Agent and offer the Money Merge Account
Got a Question? Call Charles at 561.756.4279 or email me at xavier687@yahoo.com

In my last post, I was telling everyone how my brother and I were talking on the phone and he told me he was escrowing for his taxes. I told him to remove them since it would payoff his loan faster with the Money Merge Account. Anyway, he ran a scenario for my in his Money Merge Account Software and it said it would lower his payoff time from 5.75 years to 5.25 years.

Well, I have to appologize to everyone who reads this blog, all the United First Financial Agents, their customers and the people at United First Financial. Yes, my brother's payoff time was completely wrong once he called Countrywide and got the escrows removed (he did this yesterday) and then was able to truely update the Money Merge Account Software. The payoff time went down it 4.8 years!!!

Here is what he wrote to me tonight:

=======================
Charles,

Just wanted to thank you for the advice you gave me on letting the MMA system handle the paying of my real estate taxes by removing the escrow payment from my mortgage.

Here are the results:

Before my mortgage payment was 526.91 with an escrow payment of 372.04 for a total payment of 898.95. At that point I had 5.7 years left to pay off my mortgage.

I removed the escrow payment and now have the MMA handling my tax payment by adding a $2200.00 yearly expense for taxes like you told me.

By just doing this, my years left went down to 4.8 years!

So I knocked 9 months off by doing basically nothing and just letting the MMA manage my real estate taxes.

I can't even begin to image how much in interest on my mortgage that is going to save me. This system is definitely worth every penny.
=======================

There you have it, the true power of the Money Merge Account. You now can see that without my brother making any more money, just putting it to better use for him, he is able to knock 9 months off his mortgage.

Get Your Free Money Merge Account Analysis Today!
Become a United First Financial Agent and offer the Money Merge Account
Got a Question? Call Charles at 561.756.4279.