As I watched Charlie Gibson in disbelief last night,  it ocurred to me that the news media, Congress and President Bush are treating this "liquidity crisis" as something brand new. 

Where have they been for the past 15 months?  Is it truly possible that Speaker Pelosi has been so enthralled with being the first female speaker that she hasn't been paying attention to what is going on all around.   Just a few weeks ago Mr. Bush was saying our economy was "sound" - hmmmmm!

Have they not read the work of Bill Roberts, Karl Christen, myself and others?  It they had they would have found a common theme - institute legislation that will truly help homeowners!!  Institute legislation that tackles the problem at it's root cause!  Had they done this our current crisis could have and would have been avioided.   It could have been done through investor tax incentives for investors that chose to modifiy loans as opposed to foreclosing on them, it could have been done by direct government help in modifying loans.  I'm sure that there are many other ways that it could have been done.

At this juncture, we must have a comprehensive strategy that puts liquidity back into the market from the bottom up as well as from the top down. 

It is only logical that if can find ways to keep homes out of foreclosure through efficient and effective loan modification, the liquidity crisis will fix itself.   At this juncture, the only bail out that should pass is one that includes a moratorium on foreclosures.

This liquidity crisis has been been building since April of 2007.  The solution, then and the solution now is to tackle the problem at it's core - the homeowner.

We at Active Rain are in the trenches, we see the real pain, fear and challenges faced by the consumer every day.  Give us a bill that tackles the root and truly helps homeowners, not just investors!!

If you've written a blog on this subject - send it to me or post it below and I'll chronology and even send it to congress!!

Clearly "Trickle Down" economics is a complete failure, a lie sold to the American People in the name of free markets, greed and corporate profit. 

For my entire adult life we have been told that "greed is good" that Trickle Down creates jobs for the American People and that it encourages investment, economic expansion and innovation.

Truth be known, trickle down achieves those goals, on the upswing.  The problem seems to come at the end of the economic expansion.  Soft, controlled landings and healthy contractions don't seem to come naturally in the world of Trickle Down Economics. 

If Trickle Down truly works, than when why is government intervention the only way to pull the country out of an economic spiral at the end of the economic cycle.    In the 1980's at the end of Ronald Reagan's heralded Presidency we had to form the Resolution Trust Fund as a result of failed savings and loans due to deregulation.  Using Tax Payer dollars, the RTC purchased foreclosed land from builders and sold it back to the exact same builders who lost the land for cents on the dollar.   Those who understood the system used the system to their advantage and the taxpayer lost.

Just like today, consumers footed the bill. 

At the time we thought that we'd never experience another episode like the RTC - who know that it could be worse.  Our current Trickle Down Failure is bringing our nation and the world to it's knees. 

Trickle Down is failed economic policy.  

Today our legislatures saw fit to deny a bailout of our banking industry and economy.   Why? 

Because they are afraid of losing their jobs?  Get Real!!

The Average American needs this bailout.  We must have it to survive as a country, for our jobs, liquidity and to put food on our tables. 

Maybe the next plan should include some bottom-up economic policies.  How about passing a bill that includes some real relief for homeowners. 

Some thoughts:

Put a 3 - 6 month moratorium on all foreclosures as part of the bill.  Use that moratorium to create  workable bottom up policies that put some relief into the pockets of the consumer.

Immediate emergency housing funds for homeowners in distress tied to the bill.

How about the government actually buys the foreclosed loans and modifys the notes to keep homeowners homes. 

Bottom Up has to be better than Trickle Down!!

Wasn't it just two weeks ago that President Bush was assuring us that the foundatin of our economy was basically sound? I couldn't help but watch last nights speech with anger and sadness. I guess that it comes as no surprise that the American homeowner was blamed for the countries current financial debacle. 

As he laid out the chronology of events, starting with the omeowners who took out loans that they couldn't afford, and ending with poor wall street being the victim, I found myself screaming at the television screen. (My poor kids and husband thought that I was nuts)

The fact remains that had Wall Street not been hungry for the profit at all costs, these loans would not have been made available to homeowners. What bothers me most is that most of Americans don't truly understand what happened so they believe his fairy tale.

I believe that at this juncture, the only solution is significant government intervention such as the plan being put forth by this clearly incompenent president.

How can a public figure, our President, swing from "the economy is basically sound" to "Without immediate action by Congress, America could slip into a financial panic, and a distressing scenario would unfold,"

Mr. Bush - we're already in financial panic and a distressing scenario is already unfolding!

  This past week I've had numerous conversations with Real Estate Agents and other professionals that have left my mind spinning.

All of these conversations have dealt with banks not holding up their end of the process.  Frustrations abound from both consumers and professionals when dealing with banks and loan service companies  It occurred to me that the banks are the wrench in the spokes of any kind of recovery.

Here are some examples:

1.  An REO property that's been on the market for months.  There are currently three offers on the property, none of which have been responded to, at least one of which will expire in three days time.

2.  Short Sale - two offers on the table, no response from the bank, communication has stopped.  Real Estate Agents, Homeowner and Buyer are all disgusted.

3. Homeowner, not yet in default,  wanting to modify their loan who can't through through the first line of defense with the bank.  Many homes are lost to short sale or foreclosure because of this.

4.  Banks cutting Real Estate Agents commissions at the 11th hour and not dealing in good faith.

5.  Some Real Estate Agents refusing to show properties listed as a Short Sale because of the complications, time involvement and potential loss of income.  I'm hearing that many would rather wait for the house to hit foreclosure status.

6.  The news media reporting that banks don't trust other banks, thus hurting overall liquidity.

To get through this market, the machinery must be well tuned and all the gears much be turning together It is inexcusable for banks to have offers on the table and not respond to them.  Reality is that for a recovery of any type to take place, inventory must be diminished and time on market must be shortened.  Consumer confidence must return which will then drive employment and other positive economic factors.

Here are my recommendations:

1.  Hire experienced employees at the front line to deal with homeowners.  Empower these employees to think and make decisions.  At a minimum empower them to get the process started.

2.  Deal in good faith, pay the Agent working on the front line for their hard work. 

3.  Respond to offers in a timely manner.  In the real world we are given 48 - 72 hours to respond to an offer.  Banks need to establish these policies or something similar.  Taking 30 or more days to respond  an offer is inexcusable.

4.  Be proactive - if a loan is scheduled to recast, automatically extend the terms for another 3 - 5 years.  Don't wait for the consumer to contact you.  The consumer is embarrassed and afraid of dealing with the bank, make it easy.

5.  Establish policies that will put fewer homes into short sale or foreclosure status.  When someone sends in a Short Sale package, ask the question:    What will it take to keep you in your home?  Can we modify the loan instead?  What do we need to modify it to?  How can we help you keep your home?

6.  Forget short term profitability and take a long term view.  The faster we move through the inventory the quicker the banks balance sheets and market liquidity will recover.

By implementing these kinds of strategies, fewer homes would go into short sale or foreclosure, the market will stabilize more quickly.  Both inventory and time on market will decrease, home prices will stabilize and the consumer confidence will significantly improve.

Keeping people in their homes and moving inventory should be a top priority.  Tent cities are not a long term option or solution!

With the decline in the Real Estate Market a small roar has begun to erupt regarding Mortgage Acceleration Programs.  There are several new concepts hitting the American Market regarding Mortgage Acceleration that are getting a good deal of attention. 

Before taking a leap and investing in any type of Mortgage Accelleration Program it's important to understand just what Mortagage Acceleration is, and what it isnt? 

So, What is Mortgage Acceleration?

Mortgage Acceleration is simple a process of making extra payments towards the principal balance of your mortgage.  A typical mortgage is set up so that the borrower pays more interest at the beginning of the loan and more principal towards the end.  On average the first 21 years of your mortgage are primarily interest and the last 9 years pay down principal.  When you choose to accelerate your mortgage you cancel interest, build equity faster and potentially save thousands  of dollars over the life of the loan.

What Mortgage Acceleration Isn't:

Mortgage Acceleration is not a magic bullet.  It's basic mathematics and money management.  If you pay more towards principal early in the life of a mortgage, you'll pay less interest to the lender.  It's that simple.

Mortgage Acceleration Programs:

The concept of mortgage acceleration has been around for many years.  Do-it-your selfers make pay an extra $100 or $200 a month towards principal, some make an extra payment annually thus reducing interest.  Structured programs include:

The 15 Year Mortgage, The Bi-Weekly Payment Plan and the new kid on the block Money Merge Accounts also known as MMA's. 

15 Year Mortgage:  The 15 year mortgage is just that.  It's a mortgage that from it's onset is scheduled to be paid off in 15 years.  This is the most common form of mortgage acceleration program used in the United States.  A 15 year mortgage has higher monthly payments and builds equity faster than a 30 year mortgage.  Interest rates on 15 year mortgages are slightly lower than 30 year mortgages.

For an extra $652.00 per month you will own your home free and clear in 15 years.  The trade off is obviously do you have the extra $652.00 per month and what happens if your financial circumstances change.  With the 15 year mortgage you are tied into the larger house payment for the life of the loan.  While I don't believe that it's ever a bad idea to pay debt faster, a lot can happen in 15 years.  A 15 year mortgage makes sense as long as you still have cash flow to put money into other investments such as IRA's and Savings.

Pros:  Your mortgage is paid off in 15 years.

Cons:  Higher Payment, must refinance to access equity if you need it.

Bi-Weekly Mortgage Payments:  Bi-weekly mortgage programs that allow the convenience of having your house payment taken from your checking every 2 weeks.   Few loan management companies have systems in place that allow the consumer to make bi-weekly payments on their own.  Instead, it is usually necessary to go through a 3rd party administrator.  The 3rd party administrator sets up an auto-debit from your checking account and pays your mortgage to the bank.  In reality, bi-weekly programs are not actually paying your mortgage every 2 weeks, instead they normally make 1 payment each month to your lender.  The auto debit every two weeks creates an extra 1 extra house payment to be made each year.  In essence the bi-weekly program is nothing more than making an extra mortgage payment each year.  In stead of making 12 payments in a year you make 13.    Fees to set up bi-weekly programs are range from $295.00 to $379.00 plus monthly administration fees.   Unless you like the convenience of having bi-weekly deductions, you can do this yourself by adding an addition 1/12th of a monthly payment to each house payment.

Pros:  Easier Cash Flow, House is paid off 5-6 years sooner.

Cons:  3rd party administrator has uses your money for two weeks out of every month, cost of administrating the program.

Money Merge Accounts/Australian Mortgages:  Although not new, money merge accounts (also known as Australian Mortgages) are new to the US market.  It's estimated at 35% of Australians and Britian mortgagee's use the Mortgage Acceleration program.  Like the 15 year mortgage and the bi-weekly payment program, Money Merge Accounts pay down principal on the primary mortgage more quickly than a traditional 30 year mortgage.  They just do it differently.  In order for Mortgage Acceleration programs work you must spend less than you make which is known as disposable income.

Money Merge Accounts use the benefits of an open-ended mortgage to cancel interest, thereby paying down principal faster.  To use a money merge account, requires a fundamental shift in the way we manage money as follows:

Assumptions:  $300,000 Mortgage, $5,000 monthly net income, paid biweekly at $2,500 each paycheck.  Unspent income of $500.00 per month.

1.  For the money merge account to work, you must have access to an open ended line of credit know as an ALOC or HELOC (Home Equity Line of Credit).  Unlike closed ended mortgages, ALOC are open ended meaning that any money that goes into these accounts, pays down Principal and cancels interest.  This is distinctly different from a closed end mortgage where payments are made to interest first and principal last.

2.  The ALOC or HELOC is used as your primary checking account.  To take full advantage of the line of credit, each month when you get paid,  deposit your paycheck directly into the checking account/line of credit (HELOC)

3.  Lets' assume that you have no debt, just your house payment.  You get a line of credit using the equity in your home.  At the start of the HELOC, you make a principal mortgage transfer of $5,000 from the HELOC to your primary mortgage.  The principal on the primary mortgage is now $295,000 and the HELOC has a balance of $5,000 for a total of $300,000.  This single transfer of $5,000 shave 1.5 years off the repayment period for the primary mortgage.

4.  Deposit your $2,500 paycheck into the HELOC, which you use as a checking account.  This paycheck immediately lowers the Principal balance of the HELOC to $2,500, thereby cancelling interest on 1/2 of the original $5,000 balance.  Pay your bills, buy groceries etc from the HELOC.  The HELOC balance will climb until you get paid again 2 weeks later when the next $2,500 paycheck is deposited, again lowering the balance on the open ended line of credit and cancelling interest.  As long as you keep spending less than you make, the disposable income will continue to cancel and pay down the principal balance of the HELOC. 

5.  As the principal balance on the HELOC gets paid down, periodic principal transfers take place from the HELOC to the primary mortgage, thus lowering the balance of the principal mortgage more quickly and canceling interest overall.

Benefits:  Interest is canceled and as equity grows on the principal balance of the mortgage, it's possible to increase the line of credit.  This allows the consumer to have quick access to cash for other investments or life expenses.  Much more control over your financial future and the ability to use the equity in the home for other financial and investment opportunities.

Cons:  If you are inclined to spend more than you make or do a great deal of impulse shopping, you may want to rethink this strategy.  Initial cost can be $3,500 for software to help you manage the program.  HELOCs have variable rate of interest.  If used as designed this interest is irrelevant, however if income decreases or disposable income decreases, the higher interest can become a factor.

My personal preference is the Money Merge Account, specifically the UFirst Software Product.  I believe that it provides a financial compass that is far superior to any other product on the market.

Before you jump into any Mortgage Acceleration program, be sure to talk to a qualified Mortgage Planner who can discuss all the options available to you.

Other Articles in this Series:

What is an Australian Mortgage

The Difference Between Open Ended and Closed Ended Loans

-----------------------------------------------------------------------------------------------------------------------Kate Bourland is a Mortgage Planner located in Redding, California.  Her specialties include Debt Elimination, Equity Planning and Credit repair with a focus on helping clients achieve financial freedom through education and outside the box thinking.  She creates customized plans for each client that are focused on clients goals and needs.  No matter what your goals, Kate is committed to providing solid professional planning to help you achieve those goals.  Contact Kate by e-mail or by phone at 530-244-4345.

© 2007 Kate Bourland, all rights reserved.  The opinions expressed in this blog are the opinions of Kate Bourland.

It occurred to me, as I was writing my blog post on Mortgage Accelerator Programs, that an explanation of the differences between Open Ended and Closed Ended Loan products might be helpful.

Open Ended Loans: are loans that allow you to put money in, (make a payment) and take money out (make charges or cash with-drawls).  These loans have credit limits that you cannot exceed without penalty.  They are flexible loan products that provide the consumer with options.   On an open ended line of credit you only pay interest if a balance is kept at the end of the statement period.  One of the benefits of an open ended line of credit is that the credit limit can be increased if the card is managed responsibly!

Examples:  Credit Cards such as Visa, Discover, American Express and Sears.  The cards allow you to charge up to a certain limit.  Lines of Credit such as HELOC (Home Equity Lines of Credit)

Closed Ended Loans:  These are loans that are set from the beginning of the loan.  You can make payments into, but cannot take money out.   The money is loaned at a set amount, and the consumer agrees to make payments towards the principal and interest.  Also known as installment loans, you can make additional principal payments and pay them off early, but once paid you do not have access to the equity in the property that you have purchased.  Typically, the early years of the loan is primarily interest and principal is paid towards the end of the loan period.The only way to access equity is to sell the property, or to get a new loan i.e. refinance.

Examples:  Car Loans, 30 Year Mortgage, 15 Year Mortgage, Adjustable Rate Mortgage, 5/1 ARMs, Dell Computer Loans etc.

Understanding the difference between Open Ended Loans and Closed Ended Loans is critical in understanding the power of Money Merge Accounts or Australian Mortgages. 

The Australian Mortgage uses an open ended HELOC as a primary mortgage tool which allows the homeowner to make deposits (payments) into  and draw money out as necessary.  The net effect is cancelled interest and a quicker repayment of the principal balance IF the consumer spends less than them make each month.

The Money Merge Account does the same thing, but creates a system where the Open Ended Line of Credit works in conjunction with the Close Ended Mortgage.  Periodic transfers of equity from the Open Ended Line of Credit take place into the Close Ended Mortgage, creating a systematic interest cancellation system that can be quite effective in helping consumers pay down debt and pay off the mortgage early.

Other Posts in this Series:

What is an Australian Mortgage

Mortgage Acceleration Programs Explained

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Over the past year a new phenomenon has hit the the United States from the world Down Under.  It's called an Australian Mortgage and refers to a financial strategy that's been used in the Australian and European markets for many years. 

The purpose of the Australian Mortgage is to decrease the amount of interest that you pay on a mortgage while increasing the amount of principal that you pay towards the mortgage.  The net effect is that you can own your home free and clear in 1/3 to 1/2 the time it would take to pay of a traditional 30 year mortgage.  If used properly homeowners can save tens of thousands of dollars in interest payments to banks over the term of the mortgage.

In other words, the Australian Mortgage is a type of Mortgage Accelerator.  The concept is not a new one, it's just being packaged and marketed differently and the American Citizens are now becoming aware of this mortgage planning tool.

How Does the Australian Mortgage Work?

A true Australian Mortgage requires that you refinance your traditional fixed rate or ARM mortgage into a variable rate HELOC or ALOC.  (Home Equity Lines of Credit).  This means that your first and only mortgage will be a variable rate Home Equity Line of Credit.  The HELOC will have a higher interest rate that can change on a regular basis.  This higher interest rate is offset by the way the HELOC is managed.  Here's the concept:

1.  A HELOC (ALOC) is acquired as a first on the subject property.

2.  This HELOC will be used as your primary checking account, ATM and on-line bill pay account.  In essence it replaces you current checking and savings account.

3. Your monthly income from paychecks, dividends etc is deposited directly into the HELOC which dramatically drives down the principal balance on your mortgage.

4.  All your expenses, including bills, grocery shopping, entertainment etc is paid out of your mortgage.  The longer the money stays in the account, the less interest that you pay on your principal balance. This uses the money that is currently sitting in your checking account, earning little or no interest, and keeps your loan balance lower.

 With this concept, less of your income is going towards paying interest which leaves more money to pay down principal which pays off your home mortgage faster with no change in spending habits.

Who Offers Australian Mortgages?

To my knowledge the only company that offers a True Australian Mortgage in the United States (True meaning the HELOC is used a first mortgage) is CMG Mortgage services.  There was another company that had entered the market but I understand that it is no longer in business.

There are two companies that offer hybrid Australian Mortgages.  These programs work the same way but use an ALOC as a second mortgage.  Some feel that this is less risky and safer for US homeowners.  The two companies that offer these programs are U1st Financial and Sydney Financial Group.  I'll be covering these products in a different blog post.  Of the two, U1st Financial is my preferred program.

 Do These Programs Work? 

The answer is an emphatic YES, but only if the client is responsible with money and has positive cash flow each month.  The Australian Mortgage is not for someone who has uncontrolled spending or can't currently pay their bills.  Other products would be more appropriate in that situation.

What are the Risks?

There may or may not be tax ramifications so it's important to have a good tax adviser on hand that understands how these products work.

Banks can freeze the credit lines on ALOC's.  While rare and unlikely, it is a possibility and a risk that you should be aware of.

As mentioned above, if you are someone who tends to overspend, using your mortgage as an ATM machine is not recommended.

Is an Australian Mortgage Right for You?

This question is not quite so easy to answer.  While I am a firm believer in The Australian Mortgage and the concept of Money Merge Accounts, they are not for everyone.  Other debt elimination and equity management programs may be more appropriate for your needs.  It's important that the Mortgage Planner that you choose to work with asks you hard hitting questions and takes the time to understand your financial goals. Your decision will depend on where you are in life, your income, your debt load as well as the equity that you have in your home.  

In addition, the decision to choose an Australian mortgage should not be made in a box.  It's important that the Strategic Mortgage Planner you work with has a team of Tax Consultants, Real Estate Agents, Insurance Agents and Financial Planners who are well versed in the concept of equity management.

Your home can be used to create incredible wealth.  The Australian Mortgage can play a role in that wealth creation.  You need to start with a plan and educated professionals who will provide you with the education that you need to make an educated decision.

Other Articles in this Series:

Open Ended vs. Closed Ended Loans

-----------------------------------------------------------------------------------------------------------------------Kate Bourland is a Mortgage Planner located in Redding, California.  Her specialties include Debt Elimination, Equity Planning and Credit repair with a focus on helping clients achieve financial freedom through education and outside the box thinking.  She creates customized plans for each client that are focused on clients goals and needs.  No matter what your goals, Kate is committed to providing solid professional planning to help you achieve those goals.  Contact Kate by e-mail or by phone at 530-244-4345.

© 2007 Kate Bourland, all rights reserved.  The opinions expressed in this blog are the opinions of Kate Bourland.

What follows is a list of resources for those looking for information regarding mandatory evacuations in IGO/ONO:

Here is the actual map of the Mandatory evacuation in the IGO/ONO Areas.

As of 4:30 pm, it has just come across police scanners that the fire has jumped Zoggmine Road and that this map has expanded so that there are now mandatory hard evacuations on Muletown Road:

Informational websites to stay on top of breaking news:

California Fire Home Page - Shasta/Trinity Area

Scanners to Listen to Police/Fire Activity regarding Road Closures

As we get updates we will continue to post additional links for local Redding and Shast Area residents to use for reference.

Word is that Haven Human has been in the area assisting and removing Animals from the area.  Our thoughts and prayers are will our friends and neighbors affected by disaster.

The Senate overwhelmingly passed the Mortgage Rescue Plan yesterday with a vote of 76-10, but is it too little too late?

The cornerstone of the bill will allow distressed homeowners to refinance into safer,  more affordable government backed loans.  I find it ironic that the vote took place on the same day that IndyMac closed it doors to wholesale lending.  Clearly the importance of  government backed FHA products is the wave of the near future. 

Still at issue:

•  FHA Limits - the House bill caps them at $725,000 while the Senate wants them capped at $625,000.
• Senator John Ensign is blocking progress so that he can attach $8 Billion dollars of renewable energy tax breaks.
• President Bush promises a veto - but there are clearly enough votes to over-ride it.

I have to wonder if this bill is being passed too late?  It seems as if the gates been left open and the horse is already out of the corral.  Last I checked FHA Secure had underwritten fewer than 500 loans - certainly not the knight in shining armor the Bush Administration indicated it would be.  Liquidity has all but left the market, gas prices have sky-rocketed and unemployment appears to be on the rise. 

I'm especially shaking my head over the provision that allows $3.9 Billion for buying and fixing up of foreclosed properties.  This is akin what happened in the 1980's when builders filed bankruptcy, reincorporated and repurchased the property they had just lost for cents on the dollar as REO's.  While this will ultimately help neighborhoods, I'm not clear on how it helps the distressed homeowner.

For the entire article: Mortgage Rescue Plan

Over the past year, a war has raged on Active Rain over the concept of Money Merge Accounts, also known as MMA's.  The UFirst Product has been under attack mostly because it is the market leader, but also because of it's marketing plan.    On one side are the non-believers who say the product consists of funny math. On the other are the evangelists who shout praises for UFirst and MMA's from the rooftop for everyone to hear.

Because of this war, I have stayed on the periphery of this product for nearly nine months; watching, learning and questioning; intrigued but doubting; afraid to fully commit.  I was able to see both sides of the coin and never fully picked a side.   Until Now!

This past weekend UFirst Financial launched version 4 of it's proprietary Money Merge Account (MMA) Software.    This MMA will change the way we as Americans manage money.  It will help us create wealth, it will help us eliminate debt, and it will create financial stability and financial freedom for those who use it.

Get ready for a Financial Revolution!

This version of the software is a three dimensional fully functioning money management tool. It will allow consumers to fight back against the barrage of marketing messages designed to keep us in debt and unable to retire.   The power of UFirst's MMA product is not that it accelerates mortgages, yes it can do that.  The power of the UFirst MMA is that it empowers consumers!  The vision and leadership of UFirst Financial is not to be a simple mortgage acceleration software.  The vision of this company is to empower the Average American and to give them the tools so that they too can win the money game.  

• Imagine knowing the date that you'll be able to buy your first home?
• Imagine knowing exactly what bill to pay when?
• Imagine receiving a text message from letting you know that your phone bill is due and asking if you want it to be paid?
• Imagine being able to know exactly what debt to pay down first, no guess work, no wondering.
• Imagine being able to choose between different investments and knowing exactly which investment opportunity is right for your situation? 
• Imagine standing in Best Buy, looking that awesome 52 inch Plasma TV and wondering if you can afford it.  What if you could text into your financial management tool and receiving a message back that now is not a good time to buy, but that three months from now you'll have the money without jeopardizing your long term financial goals.
• Imagine knowing your numbers - exactly.  Imagine knowing to the date that you;ll have enough money to retire!  Put it on the calendar - because you can!

The U1st Financial MMA product has evolved into the most powerful financial management tool available to consumers today.   You no longer need to own a home or even have a mortgage to use the MMA, you no longer even need a line of credit.  If you have a savings account and checking account you can use this tool to become financially free.  I believe that any financial professional who does not make the UFirst product available to their clients is doing them a disservice

UFirst Financial has recently been awarded the prestigious Ernst & Young Entrepreneur of the Year Regional Award and is in the running for the National Award.  In addition, Douglas Andrews of Missed Fortune fame is now behind the product. 

Yes, I have proudly become an evangelist for the UFirst Money Merge Account.   My only regret is that I let the naysayers on Active Rain create doubt and keep me from taking action for nearly 10 months.   

I believe that any financial professional who does not make the UFirst product available to their clients is doing them a disservice.   If you've looked at it in the past and felt that it was too one dimensional, you were right.  Take another look - your clients will thank you.

I believe that every consumer in America should use the UFirst Financail Money Merge Account.  This powerful tool is about to create a financial revolution that will positively change the lives of millions of Americans.

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Kate Bourland is a mortgage professional dedicated to providing homeowners with financial options.  Her unique provides financial education, foreclosure prevention advise and cutting edge financial tools that give today's homeowners and first time buyers the ability to take control of their financial future.  Kate is affiliated with Windsor Capital, Dyer Beech  H.E.L.P Now and is a strong advocate and Agent of the UFirst Financial Money Merge Account.  Contact Kate at 530-244-4345 or feel free to e-mail and visit her website.