A Breakdown of the Money Merge Account

Have you heard all the buzz about the Money Merge Account (MMA)? Designed to aid homeowners in achieving an early mortgage pay off, a MMA uses an exclusive mortgage software program to help generate a sound financial plan that will enable a homeowner to pay off their mortgage in as little as eight to ten years. Confused about how it really works? Read on.

The Money Merge Account uses an advanced home equity line of credit (HELOC) to drive the program. The software analyzes your monthly earnings, bills and other expenses, discretionary funds, and the balance of your HELOC. Based on its calculations and since the equity line of credit is set up to function just like a primary checking account, the software program will prompt you to put any extra money (or your discretionary funds) towards your mortgage. This will occur only when the HELOC is at an ideal level.

The discretionary funds you put towards the mortgage will eventually start to reduce the HELOC balance, only once you have made the first transfer. The software will then prompt you to make another money transfer towards the mortgage once the HELOC has returned to an optimal point. This cycle of transfers remains until your mortgage and HELOC balance are eventually paid off. The formulas in the Money Merge Account software are automated to establish the highest interest rate savings possible in the smallest amount of time.

If you are interested in learning more about a Money Merge Account or how one may assist you in paying off your mortgage, consider contacting United First Financial, or UFirst, the Utah-based mortgage broker firm that created and refined the Money Merge Account software and program.