Money Merge FAQ

This is the Money Merge FAQ...

Q. What is the Money Merge Account™ system?

A. The Money Merge Account system is a powerful tool that enables homeowners to pay off a 30-year mortgage in as little as one-third of the time, without refinancing their existing mortgage or increasing minimum required monthly payments. The system incorporates the homeowners' checking and savings accounts with an advanced line of credit (ALOC), then helps to strategically and incrementally position their money where it provides much more financial benefit than "sitting stagnant" in a standard checking or savings account until it is otherwise needed. Complex financial details programmed into the Money Merge Account software help to better educate the homeowners and assist in some of the greatest time and interest savings possible. This program is not intended for all homeowners, as no one program is right for everyone. We encourage you to get the facts before deciding if this program is right for you.

A. Absolutely. The simple answer is that anyone can attempt to do something similar on their own. The most accurate answer is that the Money Merge Account system is an advanced tool, specifically designed to take into account the financial variables of individual homeowners' lives and help produce some of the greatest interest savings possible. This complex, yet user-friendly system records and tracks all critical financial data: the individual homeowners' income and expenses; increases, decreases, and out-of-the-ordinary fluctuations in spending; and many other financial variables in their daily lives. The system helps to maximize interest savings with each and every penny and recalculates to maximum efficiency under this concept each and every day. It adapts and adjusts to real life situations instead of expecting homeowners to stick to a static plan.

Q. Does it make sense to move money in my regular savings account over to my Money Merge Account system?

A. While it can make sense mathmatically, we advise that you consult with your licensed financial planner in reference to transferring funds between accounts. In moving your savings into your Money Merge Account system, it is possible to further decrease the loan balance on which interest accrues, and potentially decrease even further the amount of time left to pay off your mortgage. When you need access to money you can draw money out through your line of credit.

Keep in mind that it does make good financial sense to keep some savings in a savings and/or similar account that is separate from your Heloc and/or other Line of Credit. This enables you to have access to funds should you ever need them outside the use of your Heloc and/or other Line of Credit. The amount you choose to hold outside your line of credit is between you and your licensed financial planner and is dependant on your personal financial needs. We advise that you always seek the advice of your licensed financial planner.

Q. Do I make monthly payments on my line of credit?

A. Yes, but not in the traditional sense. You will use your line of credit similarly to your primary checking account. Your paychecks will be applied to your line of credit and your monthly bills will be paid from the account. By repositioning your income against the line of credit, the line of credit lender will credit the monthly payment requirement and lower your daily average balance, thus reducing interest charges. Any money that you don’t spend, that would normally be "sitting stagnant" in your regular checking or savings account, remains against the balance of your loan until it is otherwise needed, further reducing interest charges. When money is needed, it can be accessed through the line of credit.

Q. How can homeowners pay their mortgage off early with little to no change in lifestyle and with out increasing minimum required monthly payments?

A. The Money Merge Account system and service is designed to work around the homeowners' existing lifestyle. This system helps to provide homeowners with tools, service and education on how to reduce both the interest and time owing on their existing mortgage by repositioning their unused idle money, which normally sits in their accounts along with their regular monthly expense money against their outstanding loan balance until it is otherwise needed. When money is needed for expenses, it can be accessed through their line of credit. This system helps homeowners to strategically position their money where it provides much more financial benefit than "sitting stagnant" in a standard checking or savings account. Because the homeowners regular expense money and the money the homeowner normally leaves in their account is strategically repositioned against the balance on their line of credit until it is otherwise needed, the homeowner is in reality reducing the time and interest owing on their mortgage without requiring them to change their lifestyle. Because of how the Money Merge Account system works, homeowners now utilize their unused idle money and expense money to help reduce interest charges on their line of credit until it is otherwise needed, without increasing their minimum required monthly payment. Intricate financial details programmed into the Money Merge Account software help to better educate homeowners and assist in some of the greatest time and interest savings possible.

Q. Why am I applying for a line of credit, and how is it associated with my savings and checking accounts?

A. The Money Merge Account Program uses the equity line of credit solely as a vehicle or a tool to drive the program. The system is coordinated through Web-based software created by United First Financial and works independently of the lender. The equity line of credit must have the capacity to operate as 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 software and service, this creates a system in which the money in your line of credit account generates an interest cancellation on your primary mortgage, while the unused money that normally would be sitting "stagnant" in your checking and/or savings account generates an interest cancellation on your line of credit, until otherwise needed.

Q. Do I have to change banks?

A. No. It is not necessary to change banks. It may be to your advantage, however, depending on your circumstances. If you do, your UFirst Independent Agent has a list of preferred lenders that have been shown to provide excellent services to support your Money Merge Account system.

Q. Do you make payments for me?

A. No. We do not have any access to your accounts. You will be initiating all transactions by following the prompts of your online Money Merge Account system. You make all decisions and you are in complete control of your money.

Q. Do you have access to or control of my money?

A. No. You are the only person with access to your accounts.

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

A. There is interest charged on the line of credit, but because your income is repositioned against your line of credit in different intervals, the bank adjusts the amount of interest they can charge you by offsetting the average loan balance. As a result, the interest charged is greatly lessened.

Q. Why do most banks not offer this type of program?

A. The Money Merge Account system is based on banking principles that are accepted by most banks across the nation. The system simply provides you with the necessary tools and education to better use your money to reduce interest, instead of the bank using your money to earn interest. We believe that this is one of the reasons that most banks do not offer this type of program.

Q. Can I contact any of your client references to hear about their experiences with the Money Merge Account system?

A. Due to privacy regulations, we are unable to provide personal contact information for references. However, you can view actual clients using the Money Merge Account system on our informational DVD and you are welcome to research our company through the Better Business Bureau Web site at www.bbb.org.

Q. What happens if I sell my home?

A. The Money Merge Account system follows your mortgage until it is paid off. Once you have sold your home and purchased another residence, we can put the Money Merge Account system back into action on the new residence. Also, all the equity built in the account, as well as the equity built with market appreciation, willn make a great down payment on the next purchase.

Q. Is there any risk involved?

A. From a financial standpoint, there is very little risk. No stock market crash or extreme interest fluctuation can completely eradicate the expected outcome. If your numbers remain the same, we guarantee the results given on your "Final Analysis" at the outset of the program. Only homeowners who qualify to significantly reduce their mortgage payoff time and interest, however, will be activated on the Money Merge Account system. Be advised, this system does not release homeowners from their obligation to make their regular minimum monthly loan payments. This program is not for everyone, as no program is right for everyone.

Q. Can anybody qualify for the Money Merge Account system?

A. It is important to go through a brief questionnaire when applying for the Money Merge Account system. Fortunately, there are several avenues that can be taken to gain approval or tailor the program to work for your specific situation, but the Money Merge Account system is not for everyone.

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

A. No. It is not necessary to refinance your existing mortgage. You may choose to refinance your mortgage for additional interest savings but refinancing your existing mortgage is not required for the Money Merge Account system to work. If you do not currently have a specific line of credit, one will need to be opened.

Q. Will the Money Merge Account system work with an interest-only or negative amortization payment on my primary mortgage?

A. It can, as long as the homeowners' information qualifies. The Money Merge Account system helps qualified homeowners to take control of the outcome of these types of loans with much greater understanding.

Q. Can I own multiple investment properties at one time and use just one Money Merge Account system or do I need one for each property?

A. The Money Merge Account system is most effective when used to payoff one property at a time. As each property is paid off, your overall discretionary income can increase—creating an accelerated payoff period for each subsequent property.

Q. Is this program right for all people?

A. No, as many different programs are right for some and not right for others. This program helps to provide tools, education, convenience and insight to homeowners who are looking for additional support and education on how to pay their home off quickly. Among other options, homeowners can choose to pay their mortgage off ahead of their standard schedule by adding additional money to each regularly scheduled monthly payment.

Q. Does United First Financial give investment, mortgage, real estate, or financial advice?

A. No, United First Financial does not provide investment, mortgage, real estate or financial advice.

Q. Does the Money Merge Account system create money in addition to my regular income to help pay down debt?

A. No, the Money Merge Account does not create money "out of thin air." It is a proven system that uses existing banking tools, financial strategies and education to assist homeowners in saving interest and paying off debt at an accelerated rate. This system helps homeowners reduce the interest and time owing on their existing mortgage by repositioning their unused idle money, which normally sits in their accounts with their regular monthly expense money until it is otherwise needed to pay expenses. When money is needed for expenses, it can be accessed through their line of credit. This system helps to maximize interest savings with each and every penny and recalculates to maximum efficiency under this concept each and every day.

Q. Is the Money Merge Account system the only option that can effectively help to pay my mortgage off ahead of schedule?

A. There are many different options for homeowners to pay their mortgages off early. Homeowners using this system have stated that the Money Merge Account system is one of the best ways they have seen to pay their mortgage off early while gaining a much more robust understanding of the operation of their household finances.

Q. Does the Money Merge Account system take into account if I am paid on a monthly, semi-monthly, weekly or bi-weekly basis?

A. Yes. Individual homeowners' pay schedules such as monthly, semi-monthly, weekly, and bi-weekly are taken into account. The Money Merge Account system is programmed to take different pay schedules into account to operate at maximum efficiency. Whether you are paid 12, 24, 26, or 52 times a year, this system takes your specific pay schedule into account. This enables homeowners to benefit to their optimum potential under this concept while always maintaining complete and total control over their money and financial decisions.

Q. Does the Money Merge Account system fix my financial problems?

A. There is no magic trick or secret type of loan that will let you own your home sooner. The Money Merge Account system is not a cure, it's a tool. This system will only assist qualified homeowners in paying down their mortgage debt at an accelerated pace if they properly use the Money Merge Account system and service the way it is intended to be used.

Q. If I spend more than I make, will the Money Merge Account system work for me?

A. No. If you do not make more than you spend, the Money Merge Account system is not the right option for you.

Q. Should I stop putting money in my investments or transfer money from an account into my Money Merge Account system?

A. United First Financial does not provide financial or investment advice. Please consult your licensed financial planner.

Q. Is customer support important in properly implementing this system? And if so, what kind of customer support do I receive as a client?

A. Proper customer support is key in gaining the greatest possible savings with the Money Merge Account system. While the system software is very user friendly, the lifetime customer support which comes with each new program activation is equally as valuable in achieving the greatest time and interest savings possible. There are many interest-saving features built into the program and our client support personnel are highly trained in providing the homeowner with the greatest possible education and instruction under this system.

Q. How can a higher interest line of credit help to pay off my lower interest first mortgage? Can you give me more information on the workings of this program?

A. When repaying a mortgage, it's not the rate you pay that's most important. What matters most is the total amount of interest you pay over the term of your loan. With the Money Merge Account system you use your line of credit to reduce the balance owing on your primary mortgage, and you reposition your regular income and your unused “stagnant” money you normally leave sitting in your regular checking and/or savings account to reduce the balance owing on your line of credit. By repositioning your regular income and your unused “stagnant” money you normally leave sitting in your regular checking and/or savings account, you are able to keep your line of credit balance as low as possible, which can significantly reduce the interest that would normally be charged on the line of credit. This means more of your regular payment goes towards your principal balance each month, helping you repay your mortgage ahead of your standard mortgage schedule. The online software system and customer service provide helpful guidance as to the specific transfer amounts and timing that is needed to provide each individual homeowner with the best interest savings possible under this system. Optimum interest savings under this system is a delicate balance between your primary mortgage, your line of credit, your income, expenses, transfers, etc. If you transfer too much to your primary mortgage, it can cost you more interest on your line of credit. If you transfer too little, it can cost you "lost" interest savings on your primary mortgage. This system helps homeowners to reduce both the interest and time owing on their existing mortgage by strategically positioning their money where it can provide much more financial benefit than "sitting stagnant" in a standard checking or savings account. Also, unspent "stagnant" money left against the balance of the loan that homeowners would normally leave in their checking and/or savings account is now working for them 24 hours a day without requiring them to change their lifestyle. When you need money for expenses, you can access it through your line of credit. Intricate financial features and details programmed into the Money Merge Account software help to better educate the homeowner and assist in the greatest time and interest savings possible under this concept.

Q. What is the secret behind the Money Merge Account system?

A. There is no magic trick or secret type of loan or system that will let you own your home sooner. With the Money Merge Account system, substantial savings are achieved by strategically and incrementally repositioning the unused money that you usually have “sitting stagnant” in a standard checking or savings account against the principal balance owing on your home until otherwise needed, without increasing your minimum required monthly mortgage payments. When you need access to money, you can draw money out through your line of credit. Because much of the savings of this program comes from homeowners repositioning the unused money that they normally do not spend and leave sitting in their standard checking or savings account, little to no lifestyle changes are needed. Many of the educational features in the Money Merge Account software help homeowners to better see the cause and effect of the money they spend and the money they don’t spend. Many of the features programmed into the Money Merge Account software are based on what is called Behavioral Economics. The definition of Behavioral Economics is: A field of economics that studies how the actual decision-making process influences the decisions that are reached.

Q. Is this a good program if I overspend on a regular basis?

A. While the Money Merge Account software and service does have the ability to educate homeowners on many of the “cause and effect” situations prior to spending money, if you have a tendency to overspend on a regular basis, this program is not the right program for you.

Q. Should I consider keeping a reserve amount in a savings account separate from my Heloc and/or other Line of Credit?

A. It does make good financial sense to keep a savings amount in a savings and/or similar account that is separate from your Heloc and/or other Line of Credit. This enables you to have access to funds should you ever need them outside the use of your Heloc and/or other Line of Credit. The amount you choose to hold outside your line of credit is between you and your licensed financial planner and is dependant on your personal financial needs.

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