We will show you how to Pay Your Mortgage off in 8 to 11 yrs. No Refinancing necessary. Use the bank's systems and get your $$$ working for you instead of the bank making all of that $$$ off of you. When you understand how interest works, you will realize how powerful this actually is. If you are a homeowner, email us at rockypointripper@gmail.com for more information. Obtain a free analysis and take control. Save 10s to 100s of thousands of $$$ on that 30 yr loan. This is truly a revolutionary product.
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Comments about this Video
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very interesting
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Awesome service, and is helping hundreds of thousands of people be home owners..
Plus they even offer 100% money back if you arent satisfied. America needs more companies like this. :)
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Really? Because the Australian government came down rather hard on them. There is nothing mysterious about a mortgage - make extra payments against the principal if you want to pay it off faster. You don't have to pay $3500 for someone to tell you that. Of course, you won't get your $2500 commission then.
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You fail to understand the reasoning on the service. Plus you dont understand the comission lay out either. Do your do diligence and go to a meeting and find out how it works in depth. You want actual information,evidence, testimonials, etc? Go to the source of where this service came from.
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I've been through the intricacies of the service ad nauseum. It's been debunked numerous times. Here's how this will go: I challenge you to post an amortization table for a MMA mortgage vs. a traditional mortgage with the same monthly payments, and you obfuscate and dodge the question. Any numbers you do put forward will not be in a table, and if you provide enough info to do a comparison, I will point out your errors and demonstrate that the straight mortgage outperforms the MMA. Ready?
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It's "due diligence", and I've done it. UFF itself is careful not to make crazy claims, but agents do. The software is, at best, a behaviour changing tool.
No matter how hard you try to make it, the math is pretty easy, and adding a high-interest HELOC to pay off a low-interest mortgage doesn't accelerate anything.
In the meantime, take all the time you need to assemble a sample amortization table.
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It's a scam.
A money smoke and mirrors scheme. It shuffles money through a line of credit (HELOC), but the end result is that you got suckered out of $3500. There is no magic. It simply takes your extra money, and puts it towards your home. You can do that yourself, without a $3500 fee. (Of which the salesman gets $2500 in commission).
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My Mom is paying off her mortgage in as little as one-third to one-half the time, saving thousands of dollars in interest without refinancing my existing mortgage and with little change to my lifestyle.
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Did you copy and paste that straight from UFF's website? (The sales pitch is eerily similar)
Further, did your mom know she could pay off her mortgage *faster* if she didn't pay a salesman $3500, and instead took her extra money and put it towards her mortgage (which is exactly what UFF does)?
UFF is a scam.
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No, it's not a scam. She is actually paying her mortgage off in 5.6 years and savings thousands of dollars in interest. It's aan awesome service and I recommend it to everyone with a mortgage.
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United 1st Financial also offers a 100% money back guarantee so you can't lose. U.S. Bank signed a non-compete agreement so they can be their preferred lender. United 1st Financial is changing the way mortgages are paid in the United States. In five years, the Money Merge Account will be very common.
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It's a scam because your mom can pay off her mortage in 5.6 years WITHOUT United First Financial's help.
They charge you $3500 so the salesman can get $2500 in commission, and give you crappy software which at it's core, tells you to put your extra money on your home.
I repeat, you can do this yourself easily, and BEAT the Money Merge Account's results
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Your mom is paying off her mortgage early with little change to your lifestyle? So you're living at home *and* a UFF agent?
As helix says, she could do it faster without UFF or their MMA software. She could do it even faster if you got a real job and paid rent.
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Nobody will qualify for the money back guarantee, because the MMA system will work - it's just not as optimal (or easy) as simple prepayments directly to your mortgage. The $3500 fee is just an extra albatross around your neck you don't need.
Link to this agreement?
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You know if your way was so easy then why isn't everyone doing it, I'll tell you because no one is teaching them (your) the way except the people from Ufirst and the 10+ hours that a Ufist salesman takes to help someone knock 20+ years off of their mortgage is worth their pay. The $3500 exchanged for a reduction of $100,000+ sounds like a great deal to me, just not you, whhhhyyyyyy??? Just what is your agenda? I wish someone would have shown me this when I was your age, I would be a billionaire
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by now... and I've looking into the commission they make only $450 on their first two deals and do make up to $1575 at the top. Lot's of dis/mis information that you, whom I believe has not even seen their product, or truly understand all that you criticize. You should be smart enough to realize that they are starting to market in Canada and make lemonaide out of lemons and work the business for yourself...but no, actually helping people discipline themselves to do this is too positive for you.
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One last question... I want to buy a jet ski this month for $5000 out of my HELOC and my income is $4000 how much should extra should I send to my mortgage co. $4500 or ? You can play with your spreadsheet... I'm going to buy their software, I also have someone to call most all hours of the day, can I call you in 4 years at 11:30pm to get your input??? Uh huh, just as we thought...
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Wow. Three mad posts. You have issues (and a UFF agent badge, I'm sure). How the money is distributed is not important to the mortgage holder - $3500 is $3500. How much to prepay? Keep a minimum float in your checking. The complicated math? [Monthly Income] - [Monthly Expenses] = [Extra Mortgage Payment]. Do that every month, and you'll beat UFF. Most of your savings will be the $3500 (plus interest) you didn't have to spend. Avoid the jet ski - you need something more relaxing.
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Would your system work with NO discretionary money, like Ufirst's will... hmmmm.... I didn't think so.
Later!
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News Flash - The UFF system will not work without discretionary income either. I know you think it does, so show me - with actual numbers and money movements - how UFF can conjure money out of thin air. (Hint: Don't forget HELOC interest on the average daily balance - a common UFF omission)
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I would suggest the negative comments are posted by folks who are not using the software or truly have limited knowledge of the company it seems, Not an uncommon dynamic on internet chat rooms or the likes. The software works, for those who qualify, and is assisting tens of thousands of people to have a better handle on their financial life.
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I would suggest the positive comments are posted by folks who have either drunk the Kool-Aid, or are willfully misleading others in pursuit of their next large commission check. Sure, the software will show you a way to pay off your mortgage. But you can outperform the software with simple subtraction and 5 minutes per month. I'm not the one selling anything (I design buildings), so I ask again for a detailed amortization schedule comparing MMA to prepayment. They won't post one.
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Finally, a mention of UFF in a serious financial publication (not a trade rag). From the May 2008 issue of Kiplinger's Magazine:
Don't Fall for This Mortgage Pitch
"With or without expensive software, the fact is that the more discretionary income you can commit to prepayment, the quicker the mortgage becomes history. We suggest you keep your $3,500 and do it yourself without having to fend off a pushy salesperson."
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If your defiition of a scam is that mommy can do it....oops I almost joined your way of attacking. That is not what a scam is. America is seeing much wealth from MLMer's and some prominent wealthy people promote and back many MLM companies.
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Attacking? Dude, they sell software that can't beat a paper and pencil, by confusing the client into thinking mortgages are some kind of black art, for a sum that would get you a lot of real financial training from a real live expert. That it's a MLM only seals the deal, and arguing that the people at the top of the MLM food chain are getting rich isn't a point in favor of them.
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Dear CpHansen, I can't believe you are still in here! Get a life, you must have an agenda! What is it? When this NBC station set out to prove that this was a scam they sent not one but 2 reporters to check it out. Their results were that 4 Att. Gen's in 4 different states were using the product on their own homes, and by the time the report aired they decided to put it in the how to save money section of the broadcast and 3 of the people in the station were using the product. Hmmm.. scam???
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April 9, 2008 the L.A. Times posts a positive report on UFF. Of the 70 thousand users of the software only 2 people wanted a refund. No one is going to tell you why the software performs 15 - 25% better than the guaranteed payoff date! You should know that software is proprietary. That's why no one is going to answer you. Why don't you go and hit the closest Wal-Mart with a wet noodle? They are the ones doing damage in the communities, by closing up local businesses. Do something constructive.
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OK, let's look at the last paragraph of that article:
"Me, I'll stick with paying an extra hundred bucks toward my principal each month. It ain't flashy, but I'm not losing any sleep at night."
Not exactly a ringing endorsement of UFF, is it?
Also, the article states UFF claim 10,000 users, not 70,000 as you claim.
And 4 state Attorney Generals use the software? Lemme guess - you can't tell me their names or states, can you?
The only thing you got right was the existence of the article.
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Ok, so I've heard that
* NASA scientists wrote UFF
* University Math professors are stumped by it
* Billionaire Richard Branson invented it
* Several bank VPs own or use it
* Several banks offer it
It has all the hallamrks of a scam.
Every time I ask for a source and say, "Prove it!" UFF salesman evade and change the subject. Please, link and prove what you said.
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NASA scientists wrote it? I thought it was MIT grads? Or GE Aerospace employees?
Of course, these things aren't mutually exclusive. It must have been MIT grads who work for GE Aerospace on NASA projects. Who do mortgage software on the side. I'm not yet sure how Richard Branson fits into all of this, unless those MIT/GE/NASA types were working on the Virgin Galactic program on weekends away from NASA.
Busy, overworked guys. Who wants to tell them a pencil and paper beats their software?
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Hansen, you ever talked to a homeowner who uses the Money Merge Account(tm) program?
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Sure I have. I believe UFF clients fall in 3 categories: (1) They drank the KoolAid and are now also agents, or (2) they sipped the online KoolAid and are now questioning their decision, or (3) they now realize their mistake and are embarrassed. I've conversed online with many (1)s, taken part in discussions with one (2) (Peter96353 on Fatwallet DOT com), but those who fall under (3) aren't talking.
I have also steered one friend away from UFF by explaining the math over the phone.
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BTW, good of you to copy-and-paste the "(tm)" in there from your UFF script. It lets me know in advance that you're probably not going to come up with any new arguments in favor of this product.
I know you guys need 5 sales ($450+450+900+900+900 commissions) to almost break even on the $3500 fee plus the $175 agent fee (or get your 1st sale fast - then you need 3 more). The rest of the $2500 per sale commission goes to your upstreams.
You appear really new at this. Have you broken even yet?
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ItsJustMath, I answered your question. You owe it to me to answer mine.
How's business?
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evanity808, you said "U.S. Bank signed a non-compete agreement" (with UFF). I have yet to see any evidence of this. In fact, if you google "U.S. Bank" AND "United First Financial" AND "non-compete", all you get are two hits - both of them your comments on YouTube.
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Thanks for answering my question. Per above:(1) I believe that (clients becoming agents), (2) discussed with just one?, (3) of course is speculation.
I typed in the (tm) part.
We added the program on to offer our clients and even the most skeptical one's going into it are glad they did...no they are not agents. We don't recruit clients, we do however, look to recruiting brokers.
Do we own the program? Yes(not required to). Have we broken even? Yes, not that it matters.
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Congratulations on your sales.
You type trademarks indicators in video responses? Were you a lawyer in a previous career?
I assume your nickname is a reference to the MMA. Since "ItsJustMath", can you explain the math? I assume you are a mortgage broker, so you should know the math better than other agents here. That is, please explain how the MMA "cancels" interest. Just lay out the first month, or at least until the MMA decides to apply an extra payment to the mortgage.
Thanks
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hey cphansen. I'm buying my first house in a couple months. A friend of mine that I trust is a realtor and UFF agent. It doesn't quite seem right to me and I'm researching as much as I can. I think that it can pay off your mortgage quicker - i'm just not convinced it's the most effective way. Could you recommend websites to me that debunk this using math? And any blogs or websites that you think have good discussion about paying off your mortgage and whatnot. I"m not a schill!
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Rip-off $3500 for this crap! Same as using a free online mortgage calc with extra pymnts!
Q to fools who bought, power point presentation shows a 136K mortgage to be paid in 11 yrs with pymnts of $752 (includes pricipal and int)...ahhh...simple math...$752 X 12 X 11 (yrs) = $99K...U have to make extra pymnts...fools! Remember the 7K extra pymnts the 1st yr, yes u have to keep paying every yr, just use a free mortgage calc to figure out how much extra u need to pay off in 11 yrs.
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The interesting point here is how any schmuck with $175 can become an "agent". Watch some videos, answer some simple questions, and you too can advise people on their largest expense. No formal financial education required, no common sense wanted.
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I'm not really sure what point you're trying to make??? Someone has clearly warped your thinking from reality. I honestly have much better things to do with my time then to be part of your game. I'm sorry that you will never experience the truly amazing power of our program. One thing I learned in this business is that some people get it and some don't. You don't, so I'll move onto the next person who is ready to be debt-free. Have a wonderful day!
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Thanks for the great comment about your Mom! That is what we do, helping parents achieve their financial goals so they will have the wealth to pay for their children's college, University, or even Retirement.
Our new Version 4 now works without a HELOC.
My clients can now use their own credit card, checking or savings account.
I even help clients who don't even own a home to become debt free!
Congradulate your Mom! :-) :-)
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Thank you! UFirst has also just won the "Entrepreneur of the Year Award 2008"! This was awarded by Ernst & Young!
We are now helping Canadian families become mortgage free and debt free and our new Version 4 software! Now you don't even need a HELOC to run the software! Although it is the most effective manner, they can now use a checking or savings account or even a credit card. The new features are endless and we are teaching customers to turn their equity into wealth!
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I am debt free. I sent all my extra money to my mortgage at the end of the month. Had I bought the MMA, I would not have been debt-free as fast.
Giving the first $3500 to the mortgage instead of a UFF agent knocks about one year off the mortgage. Why would anyone take on another year of mortgage payments just so the MMA can show them a (slightly) slower way to pay off the rest of the mortgage? That is exactly what it is doing.
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Version 4 adds a savings account. I should have seen it coming. Now you can choose to use the MMA with an account that charges higher interest than the first mortgage (HELOC), or put money aside in an account that pays less interest than the first mortgage charges (savings acc't). At least the savings account is safer than the HELOC option. But then, how will the client pay with "OPM" (Other People's Money), when it's all their money? How did they tell you to spin that one?
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I'm not sure what you're afraid of? 1-you are clueless to our how our software works so lashing out make you feel better 2-you are mortgage free and did it on your own 3-or you are afraid that I will prove you wrong.
I already offered my services to you and the opportunity to really see how our software works and helps people. Instead of accepting my offer you just came back with unfounded remarks. I've figured you out and thanks for the entertainment in the meantime.
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Wow! You're a genius! I'm surprised the rest of the world didn't figure this out.
So, I assume you are now mortgage free and debt free, and now accumulating wealth with this amazing knowlede you claim to have?
I must say there's a lot of entertainment reading these types of gags! LOL
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"amwaycritic" is saying exactly what I am. Send your extra income to the mortgage, and you're ahead of the MMA by $3500 plus interest, plus the inefficiencies of the MMA software.
This basic fact has been proven to other agents. Go to to the Financial forums at Fatwallet and review the large thread there.
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Fine, let's do a challenge. $200,000 mortgage @ 6%, 30 year amortization. Your HELOC at 8.6% (I don't need one). Monthly (not biweeky) income = $5000. Monthly expenses (incl. $1199.10 mortgage payment) = $4000.
What does the MMA report say? This example is covered in the UFF literature (to keep you honest), but run it again anyway. When you're done, I'll run the numbers though a simple prepayment calculator.
Either you are about to vanish, or after my answer, you will deny basic math.
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You & 'amwaycritic' are both flat out, dead wrong. You both sit there and make assumptions to the MMA program and have NO CLUE how it works. I'm not sure what point either one of you is trying to make? Seriously. I can barely sit in my chair form laughter to the ignorance of you both.
I know what this has done for my family, that of my friends, their friends, my parents, and all my clients. I have witnessed firsthand the power of the Money Merge Account and how it changes lives.
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Let me make one thing clear, the example you gave me (email) is exactly that...an example to explain how our software works. There is no magic or hocus pocus...it is indisputable MATH. MMA works and is proven and demonstrated time and again. An Award from Ernst & Young only solidifies the strength of our company and our commitment to our customers. I love what I do and feel really sorry for people like you who will continue to fall into the over 8 trillion dollars of debt America faces.
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Put up or shut up. Take the challenge and be proven to be a scammer, or leave and be proven to be a scammer. Your choice.
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Here's a very intelligent response I received via email from 'giantslalom25':
""Put up or shut up. Take the challenge and be proven to be a scammer, or leave and be proven to be a scammer. Your choice.""
It's hard to believe how violent people like him have to get and are not willing to have their own numbers ran to prove a point. Anyone can pull out a calculation and count 2+2. If you want a true number, give me your mortgage math and numbers and I can run your Analysis. That simple.
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Here's a very intelligent response I received via email from 'giantslalom25':
""Put up or shut up. Take the challenge and be proven to be a scammer, or leave and be proven to be a scammer. Your choice.""
It's hard to believe how violent people like him have to get and are not willing to have their own numbers ran to prove a point. Anyone can pull out a calculation and count 2+2. If you want a true number, give me your mortgage math and numbers and I can run your Analysis. That simple.
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What email? I told you to go to Fatwallet, where many talented people have debunked the MMA. The same talent is not needed to beat the MMA on your own. Anyone can send leftover income to the mortgage. The more you can send today, the less you will pay in the future. It ain't complicated.
The MMA will direct you to pay down your mortgage. It will just do so more slowly than you could, and millions do, on their own. It's dangerous, it's inefficient, but it will pay down a mortgage.
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You have all the info you need to run an analysis below. Once again:
$200,000 mortgage @ 6%, 30 year amortization. Your HELOC at 8.6% (I don't need one). Monthly (not biweeky) income = $5000. Monthly expenses (incl. $1199.10 mortgage payment) = $4000.
Run your analysis. How many months does the MMA need?
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I got a private message from
MortgageFreeForLife:
"I'm sorry, but you are simply a waste of my time. You sound like a 4 year old whinning for a candy at Walmart. I have far better things to do and people to help then to play verbal tennis with you. I know what our software does, I know how many people I have helped, including my own and have seen people take better control of their financial decisions."
It seems she will not run this simple analysis as challenged. Another UFF scammer.
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MortgageFreeForLife:
"Well, these are not your numbers, they are those of the example we share and are rounded off for ease of understanding.
I am far more professional than you presume as I do not run client numbers in a public forum. It is actually illigal and against our company polcies and Privacy Act."
I'm not sure how UFF sample numbers make this my private MMA report, and illegal to publish. This agent doesn't want to be proven wrong. Any other agent want to run these numbers?
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There is no way you have seen the complete presentation. If it is all as easy as you claim, then why are so many Americans loosing their homes to foreclosure and why is our debt, both mortgage and consumer so out of control. If you would quit trying to be a know it all and really listen and openly look at all aspects of the program, you would see how it can help the average american (and now Canadian).
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In response to the "Scam" comments: There is no way you have seen the complete presentation. If it is all as easy as you claim, then why are so many Americans loosing their homes to foreclosure and why is our debt, both mortgage and consumer so out of control. If you would quit trying to be a know it all and really listen and openly look at all aspects of the program, you would see how it can help the average american (and now Canadian).
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Sure, they are a few that have the knowledge, discipline and extra income to apply to their mortgage every month, but most do not.I have 24 years in the Title Insurance Industry and have seen numerous programs as well as the constant "Recycling" of debt via constant refinancing, etc.
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The cost to refinance far exceeds the $3500 Investment of the MMA. Refi costs are real costs that you never recover and you just start over in the front end loaded interest of your new mortgage. The MMA fee is an investment that you do get a return on. Congratulations to those of you that have that extra income and are debt free, but shame on you for wrongly influencing those that are not. Consumer, get the facts for yourself(not from those that haven't used or actually seen the program)& dec
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I've seen all the online material UFF has produced. The MMA is just smoke-and-mirrors.
The way to get out of debt remains to live below your means. People who are unwilling to do that will suffer the consequences with or without the MMA. Not surprisingly, you have to spend less than you make to use the MMA - UFF says so right in their FAQ.
Again, look at the huge thread at Fatwallet - the MMA is nothing special, and not worth $100, let alone $3500.
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I've seen all the online material UFF has produced. The MMA is just smoke-and-mirrors.
The way to get out of debt remains to live below your means. People who are unwilling to do that will suffer the consequences with or without the MMA. Not surprisingly, you have to spend less than you make to use the MMA - UFF says so right in their FAQ.
Again, look at the huge thread at Fatwallet - the MMA is nothing special, and not worth $100, let alone $3500.
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I was approached by a salescritter of this scam a few years back. Within a few hours of speaking with the agent the truth was out, the software did not in fact have a magical math formula. It was simply that the purchaser of the system (scammed individual) was pre-paying more interest on the first loan through the 2nd loan. The purchaser sees that they are paying down their mortgage faster, but think it is the HELOC doing magic. This is simply false, and the agent admitted it to me. STAY AWAY!
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I was approached by a salescritter of this scam a few years back. Within a few hours of speaking with the agent the truth was out, the software did not in fact have a magical math formula. It was simply that the purchaser of the system (scammed individual) was pre-paying more interest on the first loan through the 2nd loan. The purchaser sees that they are paying down their mortgage faster, but think it is the HELOC doing magic. This is simply false, and the agent admitted it to me. STAY AWAY!
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Well I am a customer of UFF just using my savings account; no HELOC and I could not be happier. I own 2 homes and will pay them off in 9.5 yers. My question is.. If this is so simple to do on your own, then why are you not doing it? Or why are Americans still doing the same old thing..? It is called ignorance. And there is plenty of that in this forum. ..lol. This is funny.
Miguel- Flight Paramedic
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Well I am a customer of UFF just using my savings account; no HELOC and I could not be happier. I own 2 homes and will pay them off in 9.5 yers. My question is.. If this is so simple to do on your own, then why are you not doing it? Or why are Americans still doing the same old thing..? It is called ignorance. And there is plenty of that in this forum. ..lol. This is funny.
Miguel- Flight Paramedic
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Millions *are* prepaying their mortgages and saving thousands in interest. It's far easier and more effective than the MMA.
The ignorance is exhibited by those who somehow believe the MMA will save them time and interest on their mortgage. If you believe this, explain why, and use numbers.
The best the MMA can claim, is to modify behavior. With something that takes longer to do than sending extra income to the mortgage at the end of the month and pay it down faster. For free.
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spending $3k for this info is ridiculous! all u r doing is putting 100% of what u make towards extra principle reduction. the claim that u dont make extra payments is FALSE. u r putting every dime u make into ur mortgage! thats how it is paid off so quickly.
if u make $5k/mo and have $3500 in expenses, ur left over amount ($1500) is getting paid to ur mortgage. so u r paying this company $3000 for them to tell u to make a $1500 extra payment each month! this program is for idiots
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Millions *are* prepaying their mortgages and saving thousands in interest. It's far easier and more effective than the MMA.
The ignorance is exhibited by those who somehow believe the MMA will save them time and interest on their mortgage. If you believe this, explain why, and use numbers.
The best the MMA can claim, is to modify behavior. With something that takes longer to do than sending extra income to the mortgage at the end of the month and pay it down faster. For free.
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spending $3k for this info is ridiculous! all u r doing is putting 100% of what u make towards extra principle reduction. the claim that u dont make extra payments is FALSE. u r putting every dime u make into ur mortgage! thats how it is paid off so quickly.
if u make $5k/mo and have $3500 in expenses, ur left over amount ($1500) is getting paid to ur mortgage. so u r paying this company $3000 for them to tell u to make a $1500 extra payment each month! this program is for idiots
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I Agree, if it's so easy to do why aren't all those verbose morons who are knocking the system paying off their mortgages in record time? probably because they are no good bozoos who cannot see the real potential of this because they are too busy knocking it, and i suspect the government, their friends, neighbors, society in general and anything else that comes into their narrow, self important, bigoted, idiotic, blind, field of view.
Get The Facts before showing yourself to be DUMB !
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I Agree, if it's so easy to do why aren't all those verbose morons who are knocking the system paying off their mortgages in record time? probably because they are no good bozoos who cannot see the real potential of this because they are too busy knocking it, and i suspect the government, their friends, neighbors, society in general and anything else that comes into their narrow, self important, bigoted, idiotic, blind, field of view.
Get The Facts before showing yourself to be DUMB !
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I'm against the MMA, and my mortgage was paid off in record time. I made extra payments against the principal. Anyone can, and it doesn't cost $3500 to do so.
As for your personal attack, I'll just point out that you posted your affiliate link to a cash gifting scam in your YT profile. You are an active participant in another scam, but you call MMA critics "dumb". Incredible.
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I'm against the MMA, and my mortgage was paid off in record time. I made extra payments against the principal. Anyone can, and it doesn't cost $3500 to do so.
As for your personal attack, I'll just point out that you posted your affiliate link to a cash gifting scam in your YT profile. You are an active participant in another scam, but you call MMA critics "dumb". Incredible.
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Just a final thought on this cphansen, obviously you know far better (along with all the other bigoted skeptics) than all the professional editors of publications like,
Ernst & Young "United First Financial Takes Home Entrepreneur of the Year 2008" or Mortgage planner, Broker Banker, True wealth, and various other magazines and organizations that have openly and publicly endorsed Ufirst, maybe you should write to them and tell them that they are promoting a SCAM as you call it, how amusing!
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Just a final thought on this cphansen, obviously you know far better (along with all the other bigoted skeptics) than all the professional editors of publications like,
Ernst & Young "United First Financial Takes Home Entrepreneur of the Year 2008" or Mortgage planner, Broker Banker, True wealth, and various other magazines and organizations that have openly and publicly endorsed Ufirst, maybe you should write to them and tell them that they are promoting a SCAM as you call it, how amusing!
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E&Y Utah sponsored the award, but did not investigate the award winners. You can ask them.
Broker Banker, True Wealth, PREIM and other magazines that praise the MMA have *heavy* UFF advertising content and low numbers. Kiplinger's Personal Finance is a major publication, and warns against the MMA, as does the finance guru for MSNBC (this video is from an affiliate NBC station).
The MMA does nothing you can't do yourself easier and for free. The way it is marketed makes it a scam.
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E&Y Utah sponsored the award, but did not investigate the award winners. You can ask them.
Broker Banker, True Wealth, PREIM and other magazines that praise the MMA have *heavy* UFF advertising content and low numbers. Kiplinger's Personal Finance is a major publication, and warns against the MMA, as does the finance guru for MSNBC (this video is from an affiliate NBC station).
The MMA does nothing you can't do yourself easier and for free. The way it is marketed makes it a scam.
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This is an ingenieous way to pay off your mortgage. Bankers front end load the mortgage because they know that we will refinance every 5 years or move so we will never pay it off. Most people who see this software and how it works enrole because they see the benefit in it, but some don't. They would rather get ripped off by their mortgage company by thousands of dollars each year, or they are to cheap to pay the price. They probably churn their own butter or operate on their own appendix
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This is an ingenieous way to pay off your mortgage. Bankers front end load the mortgage because they know that we will refinance every 5 years or move so we will never pay it off. Most people who see this software and how it works enrole because they see the benefit in it, but some don't. They would rather get ripped off by their mortgage company by thousands of dollars each year, or they are to cheap to pay the price. They probably churn their own butter or operate on their own appendix
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Since when is it "ingenieous" [sic] to borrow from a higher interest LOC to pay a lower interest mortgage?
This whole thing is a smokescreen. It's just basic prepayment, hidden behind a useless HELOC or an even more dangerous credit card. The MMA saves very little on its own. Anyone can beat this system by months, just by applying extra money to their mortgage. The vast majority of people who say otherwise are looking to share in a $2500 commission. For a piece of software that sucks.
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Since when is it "ingenieous" [sic] to borrow from a higher interest LOC to pay a lower interest mortgage?
This whole thing is a smokescreen. It's just basic prepayment, hidden behind a useless HELOC or an even more dangerous credit card. The MMA saves very little on its own. Anyone can beat this system by months, just by applying extra money to their mortgage. The vast majority of people who say otherwise are looking to share in a $2500 commission. For a piece of software that sucks.
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such a scam....the U first website now readily admits in their FAQ section that anyone can do this on their own. They also finally admit that the whole system is based on the premise that you have lots of "unused" money laying around every month. Apply that extra money to the principal of your loan and bingo!!!! You just paid $3,500 for nothing. The $3,500 software is just a glorified Excel spreadsheet that you access online...wow an online calculator developed by a NASA scientist,such a joke.
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as far as the Ernst & Young award....Ernst makes it real clear that they just sponsor these local awards, they have nothing to do with supporting or promoting u first. The company is a joke, and the new language on their own website is a result of strong legal oversight.
The U first reps remind me of some sort of invasion of the body snatchers movie, many of them really believe in what they are doing.....their fervor is cult like and weird.
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such a scam....the U first website now readily admits in their FAQ section that anyone can do this on their own. They also finally admit that the whole system is based on the premise that you have lots of "unused" money laying around every month. Apply that extra money to the principal of your loan and bingo!!!! You just paid $3,500 for nothing. The $3,500 software is just a glorified Excel spreadsheet that you access online...wow an online calculator developed by a NASA scientist,such a joke.
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as far as the Ernst & Young award....Ernst makes it real clear that they just sponsor these local awards, they have nothing to do with supporting or promoting u first. The company is a joke, and the new language on their own website is a result of strong legal oversight.
The U first reps remind me of some sort of invasion of the body snatchers movie, many of them really believe in what they are doing.....their fervor is cult like and weird.
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To all, please be careful. There are some "alternative" products out there that allow you to combine your mortgage with your checking account. These hybrid products originated in Australia, and were not legal until recently.....I actually read about them several months ago. PLEASE BE CAREFUL!!!!! The products are far more predatory and dangerous that the loose lending practices that got us where we are today!!!!
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By the way, can ANYONE authenicate this "news broadcast"? It appears to be an NBC broadcast, but the station is not being identified by their call letters, which is suspicious.....
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It's supposed to be a local broadcast out of Las Vegas. It sounds more like an infomercial. Television news usually isn't this complimentary about something unless it is furry and cute and saved a family of 4 from a house fire.
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To all, please be careful. There are some "alternative" products out there that allow you to combine your mortgage with your checking account. These hybrid products originated in Australia, and were not legal until recently.....I actually read about them several months ago. PLEASE BE CAREFUL!!!!! The products are far more predatory and dangerous that the loose lending practices that got us where we are today!!!!
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By the way, can ANYONE authenicate this "news broadcast"? It appears to be an NBC broadcast, but the station is not being identified by their call letters, which is suspicious.....
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It's supposed to be a local broadcast out of Las Vegas. It sounds more like an infomercial. Television news usually isn't this complimentary about something unless it is furry and cute and saved a family of 4 from a house fire.
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I recently worked through some typical mortgage scenarios with UFF agent John Dillard. As it turns out, fair compensation for forcing someone to use the MMA would be to refund the entire purchase price, and pay them $2500 to make up for the inefficiencies of the software and the system. That still doesn't cover the extra time the MMA demands over simple prepayment, or the added risk of the MMA.
The MMA *should* cost $3500. Agents should be forced to pay that to their victims.
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I recently worked through some typical mortgage scenarios with UFF agent John Dillard. As it turns out, fair compensation for forcing someone to use the MMA would be to refund the entire purchase price, and pay them $2500 to make up for the inefficiencies of the software and the system. That still doesn't cover the extra time the MMA demands over simple prepayment, or the added risk of the MMA.
The MMA *should* cost $3500. Agents should be forced to pay that to their victims.
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TOTALLY EFFING FAKE!!
WRONG! any person who can do SIMPLE MATH can see that it's total crap.
I love the retarted sponge analogy. So lame.
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For a stupid comment like that, you sound like someone who deserves to pay 30 or 40 years on a mortgage, giving the banks hundreds of thousands of dollars in interest. Squawking over $3500 bucks, you pay more than that to refinance and start your 30-year cycle all over again.
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I no longer have a mortgage. I doubled my payments and added lump sums when I could, and paid it off in record time. Here's the thing: The MMA needs extra money to accelerate a mortgage as well. See the FAQ on the UFirst website if you don't believe me. The HELOC or credit card are responsible for saving about $20 per month - about the monthly interest cost for borrowing $3500. Any large savings are due to extra "transfers" against the principal. If you think otherwise, show us. Use math.
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You're not helping the cause with "retarted".
The simple math you speak of is to work out the advantage of "floating" your expenses with a credit card or HELOC, between paychecks.
In good cases, the MMA can save $2.50 per month. If people just sent the same money to their mortgages and bypassed their UFF agent, they would be ahead by $10K or more.
After monthly expenses are paid, just send as much as you can to the mortgage. That's it. You're ahead of the MMA.
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TOTALLY EFFING FAKE!!
WRONG! any person who can do SIMPLE MATH can see that it's total crap.
I love the retarted sponge analogy. So lame.
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For a stupid comment like that, you sound like someone who deserves to pay 30 or 40 years on a mortgage, giving the banks hundreds of thousands of dollars in interest. Squawking over $3500 bucks, you pay more than that to refinance and start your 30-year cycle all over again.
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I no longer have a mortgage. I doubled my payments and added lump sums when I could, and paid it off in record time. Here's the thing: The MMA needs extra money to accelerate a mortgage as well. See the FAQ on the UFirst website if you don't believe me. The HELOC or credit card are responsible for saving about $20 per month - about the monthly interest cost for borrowing $3500. Any large savings are due to extra "transfers" against the principal. If you think otherwise, show us. Use math.
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You're not helping the cause with "retarted".
The simple math you speak of is to work out the advantage of "floating" your expenses with a credit card or HELOC, between paychecks.
In good cases, the MMA can save $2.50 per month. If people just sent the same money to their mortgages and bypassed their UFF agent, they would be ahead by $10K or more.
After monthly expenses are paid, just send as much as you can to the mortgage. That's it. You're ahead of the MMA.
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We have been on this program for 4 months. We thought we were fairly financially savvy, as we have 4 houses, mutual funds, 401k (now virtually depleted!!!) but never realized that mortgage interest is so diabolical. We have saved over $35,000 in this short amount of time. We would have never have been able to do this on our own! Thank you UFirst!
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Way to go!
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I don't want to insult your intelligence, but if you look at the clip, you can see "Las Vegas" scrolling at the bottom; then you could search "NBC 3 Las Vegas" and get to their website, go to "Saving You Money" and see that the "news broadcast" is not suspicious. In fact, it is reported by a reputable reporter from a reputable news station.
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We have been on this program for 4 months. We thought we were fairly financially savvy, as we have 4 houses, mutual funds, 401k (now virtually depleted!!!) but never realized that mortgage interest is so diabolical. We have saved over $35,000 in this short amount of time. We would have never have been able to do this on our own! Thank you UFirst!
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Way to go!
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I don't want to insult your intelligence, but if you look at the clip, you can see "Las Vegas" scrolling at the bottom; then you could search "NBC 3 Las Vegas" and get to their website, go to "Saving You Money" and see that the "news broadcast" is not suspicious. In fact, it is reported by a reputable reporter from a reputable news station.
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Using the same money you gave to the MMA (as well as the $3500 to UFF themselves), you could have saved over $38500. You will fall behind a simple DIY approach by $3500, plus interest, for the life of the mortgages.
Mortgage interest is not "diabolical". Monthly, it's 1/12th the rate times the balance outstanding. It's easy to calculate how much of each mortgage payment is servicing interest.
Just send more money to the mortgage and it will knock down the balance, and bypass the useless MMA.
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The MMA works - period. UFirst Financial has the credentials to back it up as well! I was on path to paying off my debts in 25 yrs. Now, I am a client and Agent (Canada). I will eliminate all my debt in 2 yrs with changing banks, no refinancing, no change in payments! ZERO RISK! I have complete control of my income and I am always prepared for when "life happens" (ie: repairs, birthdays, travel) because I use smart software that runs like a GPS! I love MMA and so do my Clients!
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You say you went from a projected payoff of 25 years to 2 years, with "no change in payments".
That's a lie. An obvious lie.
The MMA is slightly less efficient than prepaying your debts yourself. With or without the MMA, you need a lot of money coming in to accelerate your debts like that.
Your MMA is not a GPS - it is a boat anchor. People can do better than the MMA, for free, by paying higher rate debts first and sending what extra they can to their debts with their regular payments.
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Wow?!Really?! You mean that's the real answer our debt crisis? I'm sure glad your expert opinion has saved so many families! *applause*
My clients tell me that they have been waiting for a service like the MMA for yrs. People buy a GPS so they can get from point A to B fast. When there's a road block or missed turn, the GPS recalculates, keeping you on path. Our service functions with the same concept. Simple, webbased, 24hr access, 100% client support. All you ever provide us is critism.
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By the way - my payments never changed! That is absolutely NOT a lie. I still pay my minimum pymts. I really don't know why you continue to portray yourself as an expert in debt. elimination? UFirst Financial received the award for Entrepreneu of Year for Financial Services by Ernst & Young. We have also been interviewed by numerous Financial and wealth magazines and received credible recognition. Have you?
Until you have you own Analysis and truly understand our service - you're clueless.
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"All you ever provide us is critism. "
That's all you deserve.
What your clients need is a budget and maybe a conversation with a credit counselor to show them a few simple steps. You a one of an army of 60,000 financially illiterate agents who have only managed to make about 2 sales per agent, on average. You may have done better than average, but from your claims, you've obviously done it on a pack of lies.
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Of course your minimums never changed, but your MMA will direct you to make "transfers" to the mortgage and other debts from your HELOC. You're trying to borrow your way out of debt. Yes, there are some savings available by reducing the average daily balance of the HELOC with your paycheque, but you vastly overstate them. It's only $20/month or so, at best, which is wiped out by the interest on the MMA fee.
The MMA will always trail a simple DIY approach.
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As for E&Y, they only sponsored the award, and did not review the nominations. Ask Andy Heaton at E&Y/Ethics.
And any company who can assemble a risk-free sales force of who have to pay them to become "independent contractors" and go out and sell access to simple, inefficient web-based software for $3500 deserves some kind of entrepreneurship award.
The mags who like UFF are small, ad-driven rags with no history or reputation. Kiplingers, Dave Ramsey and CNBC agree to avoid the MMA.
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I guess for you , reality has not truly kicked in to the true debt crisis people are in. 90% of my colleagues are professionals in the lending industry, financial planners and we have recently opened a debt management division. You may have had a run in with an Agent that upset you or wasn't fully trained. Thus leaving quite a thorn in your side. I have proven results by the Clients that are actively applying our service and winnings far greater that you can ever promise. Spreadsheets don't work
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I don't "borrow my way out of debt". I leverage my way. How do you think the Banks have succeeded in become wealthy? By leveraging our income sitting stagnet in their accounts? If I took $500 out of my income to apply to debt, such as my mortgage and something happened (loss of job,car repair,unexpected bill..) I can't get that payment back. How many families do you think stress and fight over these issues? They all do.
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UFirst is on a mission to help people eliminate debt without risk, doing smart and it works around their habbit and constantly recalculates to keep them on path. No spreadsheet can do that.
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By the way, I could really care less about your opinion of our company. I am a happy client and successful Manager and I believe this company is doing the right thing to help families become debt free and stress free.
Another note: You are the liar actually. Paying off debt by attacking the highest interest loan is the most ridiculous way to safely pay off debt. It is never that simple my friend, and it scares me that someone like you in actually telling people this!!
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You're not using "leverage" - you're using "arbitrage". You're spreading UFF marketing instead of looking up the meanings of these words yourself.
Your rainy day argument is null and void because with the MMA, you have no cash, only debt, and that LOC could be frozen by the bank at any time, leaving you in a pickle. The best bet is to have some money set aside in a savings account, but a LOC with a $0 balance is an option as well.
You can do that, and still beat the MMA.
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That paying the highest interest rates first is is fastest is easily proven mathematically, and articles on CNN, Financial Web, MSNBC and Bankrate, among others, all agree.
The MMA is endorsed by "True Wealth", "Personal Real Estate Investor Magazine", and other small, ad-driven publications that nobody has ever heard of. 100-year-old Kiplinger's Magazine warns against the MMA.
I'll message the links to you right now, because they won't post here. I'll send them to anyone who asks.
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One calc in your head can do that:
Month end bank balance (minus) Contingency (equals) Extra debt payment amount
Take that money, and apply it to your highest interest debt first.
Now, you should always have a budget, but the above calc is all you need to outperform the MMA with the same income and expenses. You can see this in many places online. Google "money merge account scam" and follow the links to Fatwallet and Scam -dot- com.
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Once and for all, I will make it clear that MMA does not only function using an LOC. ANYONE can use the MMA. AN LOC is not required. Like many companies who have who have presented a new & dymanic concept, there will plenty of scepticism that follows. People once thought computer technology wasn't possible and bashed Bill Gates.Now we run half of our lives using that same technology. So instead of making un-founded, illegal, slanderous comments about UFirst - Educate yourself & speak to an Agent
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I would caution your continued efforts to slander UFirst. Keeping in mind that it is illegal to post comments that are not verifiable. There legal ramifications. None of your statements are verifiable. You saw a presentation a long time ago, dissagreed and now you're on a mission to slander our company. We simply help people eliminate debt, become smarter with their financial decision while using a simple tool that is 100% guaranteed. Spreadsheets don't work - people DONT USE THEM.
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Well let's see...my last client made an interesting comment to me after using the MMA for 3 months. "Thank you for sharing this amazing product with us. Our $3500 investment is saving us $365,000 of interest we'll never have to pay our Bank. We never thought we could actually see the day when we'd be debt free. Now we have a plan we can follow it using an fun and simple system! We love looking at our account everyday and know this has changed our lives." This is why I love UFirst!
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You should know that truth is a perfect defense against accusations of slander. UFirst knows exactly who I am, and I have met with an agent in Toronto. His name is Chris Jordan.
I've posted all over the Internet, because this product is one of the most morally bankrupt offerings I've seen. I've probably prevented hundreds or thousands of MMA sales.
If UFirst had a leg to stand on, they would have sued me by now.
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Sure, you can use your credit card. What a dumb idea. There is some benefit to floating your expenses, but it's nowhere near the savings you allude to, and again, it's dangerous.
You can also use a savings account. I think a modest savings account is a good idea for liquidity on a rainy day. Paying $3500 to manage it is a monumental waste.
And "People once thought computer technology wasn't possible and bashed Bill Gates." What the heck are you on about now? You're clueless.
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I should say "helped prevent", because all I have to do is show people how easy it is to beat the MMA themselves. All I need is a simple amortization schedule showing prepayments.
It doesn't help the MMA when agents defend it by going on unrelated rants about Bill Gates.
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Actually I use my regular bank accounts. Saving over $100,000 isn't what I call wasting my time. How dare you think that people who are trying to find a simply plan to help them understand their finances & eliminate debt. What about the families who will save over $365,000 of interest they'll never have to pay - the years they are shaving off payment! I am a testimonial and so are UFirst clients. With a 98% retention rate, phenomial CST support and 100% guarantee! That is fact my friend...
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The fact that you even use another person's name in your comment without their permission baffles me. Whenever a new concept comes along - people like you enjoy giving useless watercooler advice that only gets them deeper in debt. - Why? Because the average person does not have the financial accumen to make the right decisions. They don't understand how interest works or how they can effect it. People want a solution - that is why UFirst continues to grow and families are becoming debt free
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What retention rate? The only option until recently was a one-time $3500 fee, because everybody in your upline has to be paid.
Whatever you saved with the MMA, you could have saved more without it. $3500 plus interest more, with less work than the MMA.
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What? I met with an agent, and now you have his name and you can ask him. Big deal. I didn't accuse him of anything more than being an agent, which, I suppose is bad enough.
My advice isn't "watercooler". I recommend people talk to professionals. UFirst agents are not professionals, and the UFirst website agrees. UFirst provides no training or tests for knowledge of amortization or any mortgage basics. You're an army of 60,000 financial illiterates.
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I hate to break it to you, but it has been the poor advice of so-called Professionals and Bankers who have encouraged people into debt for hundreds of years. Ask my clients who constantly receive calls from these "Professionals" telling them they've been pre-approved for more credit (=debt), from Bankers to advise them into further risk by extending further credit, loans, etc...One of my clients had 3 mortgages on her home-multile balance&interest rates. Until they met me they had no plan.
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Now they have a plan that is safe, risk free and gives them complete control. They know the effect of all their financial decisions. With a financial GPS always guiding them along they way.UFirst has a vision and a passion that truly helps people,and you have the nerve to insult Agents b/c you feel they are not professionals. The majority of my teammated are Mortgage Brokers,Realtors,Financial Planners. All of know how the MMA allows them to offer better services and financial products sooner.
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I would like to make a comment about UFirst's website. Of course they have comments in there that advise ppl that not all Agents are financial Planners. This is because they are an honest, acredit company. Many Agents started off by becoming clients who loved the product so much and wanted to share it with everyone, joined our company. You don't require a degree to be educated about debt.I know, as a client & Agent what the MMA did for me. I has changed my life and future forever.
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Let's talk about the $3500 investment. That is a cheap investment for phenomial results. Go see your financial planner or stock broker and ask him/her to provide with an investment that is 100% guaranteed. You'll get laughed out of the office. Funny thing though, we buy product every day that has various margins, and we never complain to the Retailer. But the ONLY argument ALL skeptics have about UFirst is the cost of our service. WOW!I invested $3500 and will get over $100,000 return!AWESOME!
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Or, don't invest $3500 in the MMA, and get over $110,000 return with the same income and expenses.
The choice is painfully simple.
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It does not adds up and sounds like a scam to me. Paying off mortgage with HELOC and get charged $3500 and you will still owe the HELOC company interest. The only difference is that in addtion, you are short of $3500 pay to UFirst. No brianer. Stay away from it.
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Tammy, you would be in less debt without the MMA.
Now, we've talked on YT over 6 months or so, and it just struck me that your last name is "Lowe-Boucher". I checked, and your upline is UFirst trainer Jayson Lowe. I don't know what the family relationship is, and I don't care, but I do know that as a "Senior Associate", you have between 6 and 12 sales, at an average commission of less than $1000 each. You probably made more money for Jayson. Does he know about the claims you make here?
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I'm not really sure what you're point is at all. But you have something to say to me on a personnal level I would appreciate you keeping it to yourself or offline. It is professional courtesy. I do not name my clients or my colleagues. I do not report to Jayson or annyone for that matter. I am an Independent Agent.
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I caution people who make aligations when they have no verifiable evidence. I think I've said this more than once. You do not require a HELOC to use the MMA. It is the most efficient tool, but not the only one available. There are many options. Our company is constantly listening to Agent & Customer feedback to improve and make our service more easy to use and with more features they can benefit from. This is a wise investment for anyone with unsettled debt. See for youself with a FREE Analysis.
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Exactly - you're an independent agent. The agent agreement form you signed prohibits you from making the extraordinary claims you do make. You're only supposed to say "in as little as 1/2 to 1/3 the time". Note the "as little as". You go a damn sight further, claiming you'll be done in 1/12 the time.
That's where UFirst is brilliant - they recruit a bunch of financial illiterates, blind them with powerpoints, and if they screw up, they cut ties based on a broken agreement.
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I've had an analysis. I have a MMA report. It can be beaten it with any number of free online mortgage calculators with a prepayment option, or better yet, the free Debt Snowball Calculator from Vertex42 -dot- com.
The MMA is slower than simple prepayment. That debate is long over - the comparisons are all over the Internet. Yes, the HELOC is the most efficient way to use the MMA, but simple prepayment beats the HELOC option, so that just means the other options with the MMA suck even more.
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Actually you are incorrect. My own results are factual. I went from 25 yrs of debt payments to 2.4yrs to be exact. When Agents use the term "in as little as 1/2 to 1/3 the time" it is for the purpose of advising how much we could potential save a prospective client. Because we don't know their numbers in advance, however the "average" client is saving within this realistic range. I discuss my personal savings, not a hypothetical #'s. Again - you're really not making a point...
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BTW, the point is that you've been at this for months, and haven't sold enough MMAs to make minimum wage. Ever wonder why the MMA doesn't sell? Did you ever think it's because it's a bad product at an outrageous price?
The secret, if you want to make money, is to recruit. Jayson knows this - that's why he focuses on training and recruiting, and not posting on YT. Each agent only has a few easy (friends and family) sales in them. Recruit a bunch of agents as downlines, and you're laughing.
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Honestly - you are are boring me. Nothing you say changes what is factual, proven and verifiably correct. The Money Merge Account works and is a phenominal tool to help eliminate debt. Also - you can talk until the cows come home...fact is, people want a plan that is simple, that educates and guides them. There are few people in the world who have the patience or the knowledge to properly eliminate debt without risk. If they did that, they would never need UFirst. But they do, and that is okay
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On a final note - I don't know a single Agent that talks about their income level or how much they earn. Agents do this because they are passionate about helping people and getting our country out of debt. We talk about commitment, financial freedom and saving families from stress and financial burdens that haunt them. Find me a CLIENT who use MMA who does not like the product. Sure, you'll find lots of ppl like you slandering us, that is expected...but not from a client. That is my evidence!
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OK, then you have to back it up. Post your mortgage and HELOC statements.
To reduce a mortgage from 25 years to 2.4 years (assume 5% interest rate), you need to increase your monthly payment by a FACTOR of 4.7, whether it's with the MMA or simple prepayments (though simple prepayments will pay it off in 2.3 years).
If you have that much money coming in, then (a) you don't need software to tell you to apply it to your mortgage, and (b) this income obviously isn't coming from your MMA sales.
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Again - your comments are untrue and un verifiable. I am an Agent because I believe in the product and the company. I am a P/T Agent with other commitments in my life that I care not to discuss with you. I guess you ran out of arguments that now you just want to personnaly attack me. I choose to do with my time what I wish. I will also respectfully ask you to stop talking about Jayson. You don't know him and you are now being disrespectful.
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What did I say about Jayson? He's your upline, he's a trainer, he recruits, and recruiting is more lucrative than selling. All statements are correct.
How many MMAs have been sold? 120,000 has been repeated online by agents. There are 60,000 agents. You agents have been victimized as much as clients. First, most of you are clients, and second, you pay to become an agent, you pay for backoffice access, websites, and other expenses, often to UFirst. Not much of a moneymaker, is it?
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Fine, post the debts, income and expenses for a typical homeowner, along with the MMA report analysis. I'll show you how painfully simple it is to beat it.
As for risk, you've called the MMA "risk free" before. What about rising interest rates? What about frozen HELOCs? On top of all the other negatives, the MMA is riskier than simple prepayments.
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Great, if you could provide verifiable evidence of how this will work.
I have positive cash flow and my house has fair amount equity and I am prudent for my personal finance. With or without HELOC, how could any one draw money from it without pay interest? No one will give you an interest free HELOC or what ever you call it for your normal expenses. Please provide some VERIFIABLE EVIDENCE and GURANTEE of success. I will be the first one sign up with you program:).
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k95670,
UFirst agents will claim "interest cancellation" based HELOC interest being calculated on the average daily balance, but take a look at this best case (unrealistic) scenario: Borrow $5000 on the last of the month, and get paid on the first of the next month (HELOC @ 6%, mortgage 5%). One day HELOC interest is $0.83. Mortgage interest saved for the month is $20.83. The $3500 extra debt you're carrying costs $14.58/mo. Total MMA monthly savings = $5.42, in this best case scenario.
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Even these savings are dependent upon the HELOC being $0 for most of the month. In UFirst-published examples, the MMA maintains a balance in the higher-interest HELOC for the whole month, which is inefficient. That debt would be better off in the lower interest mortgage, but whether you have a mortgage or a HELOC or a CC, it is all debt that has to be repaid. Consolidate it in the lowest interest account you can (mostly 1st mortgage), and send extra payments to higher interest debts first.
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As a U 1st client, I can say that the program is legitimate. I think the very best thing about the program is that it still works very regardless of what you may think about it.
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Following the MMA will pay off your mortgage. It will just do so more slowly and with greater risk than accelerating the mortgage yourself without the MMA. Of that there is no doubt.
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We Can Help You Save Your Home From Foreclosure Go To homesaver(DOT)tk
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I am a client. The MMA works for me. I had a 15 yr mortgage. When my analysis was run I would have it paid off the 3.1 yrs. save $28,000+. I have since had a cut in income and the MMA automatically adj.. It is helping me keep on top of my spending. I will still pay off my home in 5.3 yrs. I think there are naysayers who do not understand. 25 yrs ago, when I sold computers ...they knew that there was no way most Americans would have computers in their homes by 2010--now they're on our hips.GBY
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jjamison,
To cut your payoff from 15 to 3.1 yrs, you had to be paying 4X your regular monthly payments - with or without the MMA. Had you sent the $3500 MMA fee straight to the mortgage instead of to your agent, you would be ~2 months further ahead.
The simple formula to beat the MMA is:
[month-end bank balance after bills] - [contingency amount] = [prepayment to mortgage]
Send that prepayment with your regular payment, and you'll outperform the MMA every time, and it's easier than the MMA.
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You should also note that the above formula adjusts every month.
If you want a larger safety net, you can always hold on to a zero-balance HELOC, which is a much safer position in case of loss of income. With the MMA you (often) have a HELOC, but the MMA will already have a balance on that HELOC, leaving you a smaller cushion.
Do a google search for "ufirst fatwallet" or "ufirst scam" to learn more.
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Hear, hear. Never will you ever find it.
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Why is it expected?
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I love it when these charlatans compare themselves to Bill Gates/Thomas Edison/Henry Ford.
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Congratulations!!! I love hearing testimonies like this! Real people talking their experience, being a client of the MMA!
Yes - there are skiptics and naysayers. That is to be expected whenever there is a new concept being presented. When thousands of clients are seeing success, making better financial choices and can use a system that is simple, it is truly worth the investments and future savings!
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Why is what expected?
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MartgageFreeForLife, you know I feel sorry for cphansen. Unfortunately they have lots of time on their hands and the comment he sent me had a link to something they were selling. Of course I did not click on it since I am afraid that there could be a "trojan" in the link.
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I do know that the MMA works since it is working for me and I do believe in helping people help themselves. I know that the internet has replaced "writing on bathroom walls" some folks so I will no longer respond to cphansen's comments since it simply gives them fodder to feed their need for attention. May God bless you, your family and friends.
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There are two claims of this system which I do not believe: First, that your lifestyle will not change; and 2, that the $3500 is worth it.
You're just shifting money around.
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Also, a question for you believers: Why do you think that Clark Howard and Dave Ramsey have both denounced the MMA as bunk?
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That is a bald-face lie. I never sent you any link, and I'm not selling anything. I'm an engineer from Toronto - I have nothing to gain by warning people about the MMA.
And don't feel sorry for me - I don't have a mortgage or any debts of any kind - my wife and I simply doubled our payments, added lump sums when we could, and paid off a 20 year mortgage in record time. Nor did we pay $3500 for the privilege of doing something we could already do for free.
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Again, the MMA will accelerate a mortgage. It is just less efficient, more work, and comes with more risk than simply sending more money to the mortgage on your own, without the MMA.
If you really don't agree, I repeat my suggestion to post some sample monthly numbers and compare. I posted an unrealistic "best case scenario" savings by the MMA earlier in these comments. Check my math. If you insist I'm wrong, show me up.
You can't, because you have no idea what you're talking about.
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I think what he means is, why do you expect opposition? Especially from people who have nothing to gain from it?
Could it be that you know how bad and overpriced the MMA is?
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cp; I am about to purchase my first home (2 flat). I will be one of the renters and I have a renter below me already. I was reading your earlier formula "The simple formula to beat the MMA is:
[month-end bank balance after bills] - [contingency amount] = [prepayment to mortgage]" Since this will be my first mortgage, what does that mean to me and help me understand.
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Hi tr,
The Money Merge Account in this video professes to accelerate your mortgage and other debts. My point there is that simple formula will out-accelerate the MMA. Here's what you do:
After your monthly bills are paid, take a look at your bank balance. If you would be comfortable with a smaller balance (contingency), take the amount above your chosen contingency and send it in with your mortgage payment.
This is basically all the MMA is doing, without the smokescreen or the $3500 fee.
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UFirst agents will harp on this point if I ignore it, so what if you have more debts beside the mortgage?
First, keep up with the minimum payments. Then order the debts (including mortgage) from highest interest rate to lowest interest rate. Send your extra money at the end of the month to the highest rate debt first. Once that is paid off, the next highest, etc. Again, this will beat anything the MMA can do for you. Google "vertex42 debt snowball" for a nice, simple spreadsheet template.
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I should also note: Talk to your bank or mortgage professional first. (UFirst agents usually aren't versed in mortgages. My local agent is a salesman. Another is a carpet cleaner.) Your bank or lender will know your mortgage and any applicable penalties (if any) for prepaying (accelerating), and may be able to help you consolidate high interest debt into a lower interest loan, for example.
I hope that helps, but your mortgage professional can explain your situation better in person.
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Though I have pointed out how simple it is to beat the MMA for mortgage acceleration, I should also point out that one first has to decide if mortgage acceleration is the right decision to take in the first place. Some intelligent people correctly point out that mortgages are cheap money, and mortgage interest is tax deductible in the US.
However, this is a separate topic. While I believe in accelerating your mortgage, I don't believe in the MMA. I've done the math. Agents can't, or won't.
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Just for the record schmeck, Dave Ramsey retracted his remarks but cannot endorse an MMA due to the fact that his own program is in competition with other MMA's
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