The Money Merge Account™ program consists of three major components; your existing primary mortgage, an advanced line of credit (ALOC), and the Money Merge Account software. ALOC is a special term used by United First Financial to mean a line of credit—such as a home equity line of credit—with key features required to optimize the program’s performance.
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We are not entirely sure, but believe many of the skeptics of this program are people who fall into some specific categories, including but not limited to individuals who didn’t have a mortgage, or couldn’t qualify for an advanced line of credit, or could not afford the software. We additionally agree that most people are nervous about their mortgage and may not have taken the time to understand this program especially in a time when the default rate is so high.
The existing mortgage on your home is the foundation for the Money Merge Account program, which uses a line of credit as a vehicle or a tool to drive the program. The 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 program’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.
The online Money Merge Account program simplifies the intricate connections between your bank account, the advanced line of credit, and your primary mortgage. The program helps you position your money to your maximum benefit, reducing the total amount of interest you will pay on your mortgage and other debts. The algorithms in the proprietary Money Merge Account program are systematically programmed to create the highest interest savings possible in the least amount of time.
The program prompts you to send large extra principal payments to your primary mortgage from your line of credit. This raises the balance on your line of credit, but does not increase your total debt. By lowering your mortgage principal balance, you eliminate years’ worth of monthly payments, and lower the total amount of interest you pay over the life of the loan. In addition, a larger portion of your future monthly payments will apply to your mortgage balance, making each payment more effective.
This process leaves a balance on your line of credit. The Money Merge Account system applies the principle of Interest Cancellation to this balance by using your line of credit as a checking account. Normally, your money sits in your checking account waiting to be spent while earning little to no interest. When you transfer your income into the line of credit and leave it there as long as possible, it reduces the balance that accrues interest, saving you money. You can pay your bills from the line of credit like you would a checking account.
The UFirst - Five Easy Steps to Becoming Mortgage Free
First, every potential client must contact a United First Financial Independent Agent who will complete an Analysis to see if they qualify for the Money Merge Account program.
Second, assuming they qualify, the potential client must obtain a line of credit (if they don’t already have one) and go through Money Merge Account program activation.
Third, clients use their line of credit as a checking account, depositing all income into their line of credit and paying all expenses from the line of credit. The software will then determine the best time and amounts for extra principal payments, and prompt clients to send the money to their mortgage from their line of credit, ensuring that they pay the least amount of interest on both their mortgage and their line of credit.
Tomorrow steps 4 and 5, and discover why thousands of people are becoming UFirst™ independent agents
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