I have been a representative and user of the Money Merge Account since November 2006. I find it to be one of the best financial education choices I have made.
I have been in the financial services industry for over 30 years. Before I joined United First Financial to market the Money Merge Account (MMA), I did research and learned that ...
The concept is based on the Current Account Mortgage (CAM) from the UK, Europe and Australia. They have been around for 10 years and one THIRD of all mortgages in those countries are CAMs. The Royal Bank of Scotland offers the "One Account" based on the model (http://www.oneaccount.com
Because of the structure of these mortgages, they pay off in about 1/2 to 1/3 of the time of US mortgages, with less than half the interest (these are averages - individual results will vary of course). Because US banking laws make the CAM difficult here, the Money Merge Account is simply a work-around solution utilizing a software program to manage it.
Here are some MARKETING points...
1) This program is a great PROSPECTING tool. Going back to past clients and engaging in meaningful dialogue produces referrals to other business. This is why this program has become so POPULAR with those in the real estate, mortgage, investment, financial and banking professions.
2) Mortgage Brokers selling the MMA product report that when they get into numbers with their clients to run an Analysis... they find a re-finance opportunity in about 1 in 4 or 1 in 5. You can then help a client save money in 2 ways.
3) This will actually sell MORE traditional mortgages (and more HELOCS). Most people do not buy just one house. If they build equity faster in their first house... they are ready for the next faster. It also frees up capital for other investment as well. Let's face it... there are agressive investors and conservative. This is good for both.
4) Since RE prices are flat in many areas right now.. Principle paydown is the only means of equity building for many homeowners. Equity builds financial security and the equity line of credit makes that equity liquid... a cushion against the "what-if's" in life.
5) For people with ARM's and Negative Am's... the Money Merge Accounts ALSO works. If you have clients from the past few years that you know are stressing about pending rate adjustments... get them on the MMA program fast, while they qualify. You could be the Guardian Angel that keeps them in their house.
Finally... this is a sophisticated math concept... and many people do not grasp it with just one presentation (it took me 3). Also... sadly, while there are many highly educated and professional level Agents in the company (many I have met are Financial Planners, former Bank Managers, Mortgage Brokers, CPA's etc. ) there are also some selling it that are not the best communicators. It is not surprising that many do not understand the concept at first.
The best way to grasp it is to have an agent run your PERSONAL numbers through an Analysis. Then it starts to make sense. Keep in mind that the projections are based using all the variables you entered... interest rates on your mortgage and heloc, loans, etc. The program is NOT set up to ignore any variable. Remember... there are customers that have been using this for almost 2 years. If it was NOT producing the results they expected... do you not think you would see them posting on a blog somewhere? Of course! But the only people we see posting negatively about this are people who are not using the product. You must use it to really evaluate it.
Most people cannot do this themselves and if they could would usually not have the disciple to maintain it. I put a CPA and an engineer to the test and both came close with their own spreadsheets that could do much of what the Analysis does, but nothing close to what the actual software does. The engineer (with multiple degrees in math) noted that doing the work each month himself was not worth the hours he put in to doing it himself and saw great value in the product offered and is now a client.
The actual software performs far better than the Analysis software... the Analysis is what is used by reps to gather client information and crunch the numbers like the CPA and engineer did and is what the money back guarantee is based on. The Analsysis gives you a basic idea of what could happen with your finances.
The MMA software uses highly sophisticated algorithms to chart out complex and changing financial scenarios that occur in your life. Its not a just budgeting tool but a "financial dashboard" that keeps you on track and allows for you to live your life, using your finances more effectively and efficiently. It shows you how to make your money work harder for you.
Final note.... I have met a lot of people in this company.... a wide variety of backgrounds, etc. Among the principles of the company... the owners and partners... I can honestly say also... everyone displays the highest level of integrity.
I have found nothing but a really incredible opportunity for people looking to get out of debt. While this is not for everyone and everyone cannot qualify, the average homeowner can use this product to wipe out all their debts in as little as 8-11 years.
If you would like to have your own numbers run you can visit my site and I will do a FREE MMA Analysis for you.
The Money Merge Account (MMA) IS good math.. it is not magic. Its here to stay.
Peace and Blessings,
PS. The black and white answer to ‘Can't I just do this on my own?’ is... yes.
Now, you can walk away and smile to yourself as you whisper ‘I knew it’, or, you can hear the conditions of that answer…
»YES, you could do this on your own, IF you have the financial discipline and mathematical skill.
»YES, you could do this on your own, IF you have the right kind of HELOC.
»YES, you could do this on your own, IF you are willing and able to account for every penny at all times.
»YES, you could do this on your own, IF you are willing to tally all those variables and refigure your financial position EACH AND EVERY DAY.
»YES, you could do this on your own, IF you can do this day in and day out for the next 10, 12, 15, 20 years.
»YES, you could do this on your own, IF you can do this without personal support if something goes wrong or you get confused.
»YES, you could do this on your own, IF you are willing to leave TENS OF THOUSANDS OF DOLLARS ON THE TABLE AND WALK AWAY.
»Yes, you could do many things if you had the time, determination and discipline which could accelerate your payoff. But, is it really worth it, when you could have a tool in front of you that takes care of all the variables, and simply tells you when and what amount to transfer?
Here's a great comparison: Our program and coaching is like giving you access to a state-of-the-art mortgage GPS which will advise you on how to pay off your home much faster than the old 1968 Boy Scout antique compass you're currently using.
What’s the REAL issue? It’s not your pride. You don’t really have anything to prove to anyone. It’s about the $3,500 price tag for the program.
Just say it. We’ll wait.
Consider something: Would you invest $3500 to make $40K? How about $60K, $75K or $100K? Well, know that if you attempt this on your own, the simple fact that you are human, and cannot locate all the variables day to day, that’s the kind of money you could be leaving on the table…in addition to doing all the work. all by yourself.
Make the decision that’s right for you. But for us, it was a "no brainer".
Here's my website again: http://www.mortgagepaid4.com and here's the corporate site: http://www.u1stfinancial.net/paid4