money merge accounts: Money Merge Accounts: More Misleading Information - 05/20/09 10:12 AM
It is hard to believe that I have been talking about these programs for more than two years now, bringing to light the misleading, even false, information presented by the Money Merge Account sellers. Don’t get me wrong, these bits of misinformation spread out on occasion to other mortgage acceleration product sellers, but the United First Financial (UFF) agents are the worst offenders from what I have seen thus far. The company even encouraged the presentation of skewed realities at the beginning, and I suspect they still do in a “non-public” fashion as they allow agents to continue spreading the crap, … (3 comments)
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money merge accounts: Your Mortgage: Liability or Asset? - 01/30/09 05:40 PM
Most of you reading this would answer the above question quickly and label your mortgage as a liability. After all, it is a debt, isn't it? But if there was more to it than that, or even if your mortgage could become one of your greatest assets. You may think I am crazy, but think about the concept for a while, then read on.
Traditional thinking places the mortgage clearly as a liability, a debt that should be paid off. Some even think that financial freedom cannot occur with a mortgage looming overhead, possibly because of the monthly payment required to … (2 comments)
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money merge accounts: Money Merge Accounts: Abusing Einstein’s Quotes - 01/28/09 09:27 AM
I have seen this repeatedly in marketing materials from United First Financial (UFirst Financial/UFF) and their agents, another example of the misleading material provided to sell their product, the Money Merge account (MMA). Throughout the history of this company, they have provided nothing but false and/or misleading statements into their advertisements, many of which I have already exposed here and in my previous ActiveRain blogging.
Now, let's look at another one, this time using a quote by one of the foremost figures of intelligence in history, Albert Einstein. The quote that they use is:
"Insanity means doing the same thing over … (38 comments)
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money merge accounts: It is With Great Sadness That I am Writing This - 09/17/08 08:21 AM
If you have been reading the Florida Mortgage Report for a while, you undoubtedly have read some of the posts about home equity and how easily it can be wiped out in a disaster. Every year as hurricane season approaches, I inform readers to make sure their home equity is prepared and protected, something that is not on any other emergency preparedness list out there.
Yesterday, just prior to jumping on the airplane to return to Miami, Florida, I learned that a Captain I flew with last month lost his home to Hurricane Ike. His home WAS located in Galveston, Texas. … (3 comments)
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money merge accounts: Emotions and Finances (Including Mortgages) Should Not be Mixed - 08/25/08 03:30 PM
Hopefully, you have not learned this rule the hard way. The bottom line is whenever you make any financial decisions allowing your emotions to enter into those decisions, you will lose money, and usually lots of it.
I know that all of you are likely emotional about your finances. Those of you whom have been divorced were likely separated due to your emotions over your finances. The problem is that emotions cloud your judgement and lead to mistakes, and that fact reigns true in your finances.
If you are currently looking at the stock market being down for a long period … (3 comments)
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money merge accounts: Really Simple Currency Investing Creates More US Money - 11/29/07 11:17 AM
Ok, as promised, here is what would have happened with your $10,000 investment when converted back to today's USD during the same time as my previous post's housing comparison.
For a quick overview, this chart is based on you simply converting $10,000 USD to another currency and switching it back to USD today. There are numerous ways to add additional rates of return (safely) in those other currencies and you would be even further ahead. It is also not adjusted for inflation.
As you can see, a fairly good hedge against the devaluing of the USD, and your home is by investing … (6 comments)
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money merge accounts: Money Merge Accounts: Are You Dealing With a Professional? - 08/07/07 08:35 PM
OK, I was not going to post anything tonight as I need to get some sleep, but this just had me cracking up. Many of you know that I like this type of product (not a big fan of the seller of the Money Merge Account itself, rather utilizing similar products). The reason I started posting "case studies" was to show how these things are being marketed in a very biased and misleading fashion, without comparing it to other possible solutions. Please keep in mind that there is no "magic pill" nor is there any "one size fits all" mortgage program, … (11 comments)
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money merge accounts: The Asher Institute Report: Fact, Fiction, or Distorted Reality? - 07/23/07 11:43 AM
Many of you may have heard about the report titled "Profiting from the Banking Industry's Biggest Secret" released by the Asher Institute for Consumers. If you have, hopefully you saw through some of the so-called facts portrayed in this report and did not succumb to its fallacies.
This report provides an ingenious mix of both fact and fiction to ultimately sell a product. This report has been used by numerous Money Merge Account and other Mortgage Acceleration program agents as a way to get people to buy their products. While there is some truth to it, which we will get into, people … (8 comments)
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money merge accounts: Money Merge Accounts: Good Fairy or Demon? - 06/11/07 10:41 AM
Many of you know that I have talked about these before, and one of my posts even is ranked #2 on this subject. As a proponent of proper mortgage planning, these violate many of the concepts that most Americans don't understand. I will not go through those concepts here, as it will take away from the real intent of this post.
I was reading the Mortgage Professor's website, a well respected mortgage expert who started the Upfront Mortgage Broker concept and mostly looks out for the best interests of the borrower, and I came across his article about these. That is where … (21 comments)
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money merge accounts: With Foreclosures on the Rise, Is Your Home Really Safe? - 05/15/07 10:20 AM
Well, if you are paying your monthly mortgage payments, your home is safe, for now. Unfortunately, many home buyers have the misconception that paying down their mortgage quickly is the best method of reducing risk of foreclosure on their homes. That's right, even the Money Merge Accounts (MMAs) and other Mortgage Acceleration programs fall into this category.
You see, many people who scrape up every bit of extra money they can to apply against principal often find themselves with no liquidity. Having an ALOC, HELOC or other mortgage product can help, but they can also be expensive.
When tough times come, and they … (11 comments)
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money merge accounts: Is Paying Off Your Mortgage Actually Costing You? - 05/14/07 09:00 AM
Many Americans still believe that paying off your mortgage is the best thing you can do. After all, it is a guaranteed savings, right? Well, let's take a look at it further.
Right now, there is a new craze in the mortgage industry, one that is being marketed heavily and is being presented as the best solution for you to pay off your mortgage in as little as 7 years. But is this the best thing for you, or could it actually be costing you more money?
Those that offer these programs have different names for them, Money Merge Accounts, Mortgage Accelerator, Homeownership … (7 comments)
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money merge accounts: How Powerful is Your Blogging? - 05/13/07 09:37 PM
While I was on my last trip, I received an interesting email from Matt Heaton. He wanted to inform me of a fact I hadn't already realized, and that was related to one of my posts.
You see, Matt tracks the traffic coming into our AR community and is constantly looking at ways to improve AR. While he was doing his research, he came across an interesting fact. A lot of the traffic that was being referred into AR from the Search Engines was for the keyphrase "Money Merge Account". Apparently, my post on this subject, Money Merge Accounts: Are They Really … (10 comments)
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