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Money Merge Accounts: Are You Dealing With a Professional?

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, not even the 30 year fixed.

Now, where is this post going? It really isn't even about the program, just about the simple fact that you are obviously not dealing with professionals if they are dumb enough to send me this....

You've received a contact message from your Contact Form on the ActiveRain network.

Message details:
From: XXXXXXXXXX
Email: mmasuccess@gmail.com
Subject:

Hi my name is XXXXXXXXXXX. I represent United First Financial. I would like to introduce you to a new product you can offer your clients. The Money Merge Account, This is a program that is changing the way home owners pay their mortgage. Most of our clients are paying off a 30 year mortgage in on average 8-11 years saving thousands in interest. The commission is outstanding! Plus you can set up their HELOC and basically make 2 commissions on one client! That is awesome! Top commission is $1575.00 per sale after 25 sales, commission starts at $900. Plus you can bring other members of your team into this business opportunity and make commission on their sales plus overrides. Please take some time to check this out, this is very easy to sell! My web site is www.xxxxxxx.com and my corporate site is www.u1stfinancial.net/xxxxxxx Thank You for your time and I hope to hear from you soon.

XXXXXXXXXXXX
U1st Financial Independent Agent
www.xxxx.com
www.xxxx.com
mmasuccess@gmail.com
574-876-8751

Obviously, I XXXed out his name and web addresses to save his identity. Feel free to email him or call him if you want.

What amazes me is how these guys tend to show their lack of research, thereby showing their lack of expertise in the marketplace. I am sure many more AR members received this or something similar from someone else. Before this guy should have sent me this email, why didn't he bother to take a little time and read some of my posts or even just "Google" Money Merge Account (my blog on the subject is ranked #3 or #4 in the results).

Why did he not do any research?

Didn't he realize that he was sending an email to someone who already does this type of product and has spoken out against the UFF program?

Five or Ten minutes of research could have told him it was a waste of time to send the email and that the end result would most likely be a blog about this perceived lack of expertise and knowledge on the subject. How lame is that?

Now, don't get me wrong as there are a few UFF agents I think are worth talking to. There are two points I am trying to make. One is about the so-called experts selling these products and how they have no real knowledge of all strategies available. They will also attack anyone that shows a potentialy better solution (just read my posts and you can clearly see that).

Be forewarned, do not get "suckered into" any program, including the ones I offer, without having a full understanding of other possible solutions and which you feel is truly in your best interests. Seek out those that demonstrate high levels of expertise and trustworthiness. You are here on ActiveRain, look around. If you cannot find someone, I can likely direct you to one.

The other point I would like to make is to those that are marketing to others, whether on AR or elsewhere. PLEASE take some time to research who you are about to contact and the likelihood of them accepting your proposal. It only takes a little bit of time, and will more than likely save you more time than contacting everyone individually. Also, the chances of you meeting a "warm" response are increased as well.

PS - You can see that even after there $3,500 fee for the software, you still need to set up a HELOC so there "no refinance required" may not be true after all. There also may be other costs associated with that HELOC set up, which is more than likely considering "you can set up their HELOC and basically make 2 commissions on one client"! So, are they being upfront and honest with you?

PPS - I am sure I will get all kinds of comments to their defense, right? Well, please do as I want the truth to be know and the BS to stop.

Posted by Florida's #1 Mortgage Planner on 08/07/2007 08:35 PM

Comments (11)

money merge accounts, mma, mortgage acceleration, florida mortgages, marketing

11 Comments on Money Merge Accounts: Are You Dealing With a Professional?

AUG

2007

Robert - You know how I feel, I'm on your side. Maybe for completely different reasons than those you list. But I am on your side!

Color me on your side as well Robert. This stuff needs a vast undertaking of scrutiny before it is called legit value to any consumer.

Robert.... I haven't received one of these as of yet and I probably would call them up and report them to the fake loan department...lol First off, they won't read your profile. They are true sales people that have been brainwashed. This program doesn't pay it down to a 8 yr mtg. Maybe a 15, but that's if you put every pay check that you make into the house. So, how would you eat? Why have a house then.... lol

Lastly, look at what this person is saying. You can make xxxx amount of dollars ... but, you need to do xxx amount of loans. You can also start your own team. It almost sounds like a pyramid scheme... lol

Overall.. Just SAD.... they have no understanding. And an understanding to let your home work for you and not to work for your home. Finding other vehicles to make a better return on your money.

jeff belonger

AUG

2007

Robert, You mean I was'nt the only one who received that email?... The person who sent it to me was on active rain..

Mike...Believe me, I have several other reasons I am against these agents in particular, but I wanted this post to be based on this unsolicited email and the lack of any type of research.

Jason...Very concisely put. Thank you.

Jeff...They portray the savings as being only available through their software and do not state that the vast majority of the savings comes from applying extra principal to the loan (granted the HELOC does allow some added benefit). The software is not worht the money, in my (and many others) opinions.

Also, it is a type of pyramid scheme, so it is met will heavy selling pressure from the agents. Other strategies, as I have proven and clearly shown in other posts, may be better and even allow for faster payoffs if that is the borrower's ultimate goal.

Matt...I have received several of these, but this is the first since I started showing real life cae studies of how these may not have been the best vehicles for the client. Most of the emails I received were from AR members, I did not waste the time to look up this guy, yet.

AUG

2007

A quick update...This same idiot sent me the same exact email directly to my business email, again unsolicited and even after I did this post. This guy is a perfect example of the types of idiots allowed to sell this program and call temselves "experts".

He is not an AR member, so he is ging through AR and everywhere else looking for "victims".

Robert, I don't understand. If all you want to do is pay off your loan early why do you need these guys or their software? I have a bank (a real one that takes deposits) that combines your mortgage (line of credit) with a direct deposit checking account. You receive interest relief for the time your money is in the account and not being used to pay bills or for just "living." Without making "extra" payments or risking your money in high risk investments or any other such scheme you really do pay off the mortgage early.

Bill Roberts

Bill...The biggest issue is, as you showed, the need for a properly set up HELOC, and in essence, you really just need a HELOC to make it work. The software only helps to make it more eficient and, yes, there are some people who are "software dependent" and need a program like this.

Now, this post is to show how these guys operate and some of the bogus crap they present. It is also to show how professional they are allowing for spamming, etc. to occur and their lack of research and professionalism.

While I do not recommend these programs as other options may be better, these types of programs are needed for some as the best solution.

AUG

2007

Update...(required due to unfounded character attacks)

Apparently, UFF agents and other advocates of this program feel the need to attack my character to try and discredit my opinion, again believing I am against the MMA type product, to which I am only against the BS associated with it.

If you think I am not an expert on the subject or do not understand the product, so be it, you are entitled to your opinion. However, read the post, and I mean read it. In fact, read every post I did on the subject and formulate your own opinion. Here they are and this comment will be added to each post for easier navigation....

Money Merge Accounts: Are They Really the Best Thing for You?
Money Merge Accounts Vs Equity Harvesting: Harvesting Wins by Over $1.5M
Equity Harvesting, Money Merge Accounts and the Benefits of Using Both (do not formulate an inaccurate opinion of me before reading this) Also, a UFF agent and fellow AR member, Jason Leone said this in a comment on his own post (originally attacking me)...

"It seems Robert and I got off on the wrong foot and have been in direct communication vial e-mail. Both of us had the same intentions in posting our blogs. Robert felt that the people advocating the MMA were not showing both sides of the coin and I felt the same way about the equity harvesting post. Robert and I are in agreement that their is no one strategy that is right for everyone.

I have edited my initial and quite frankly harsh response and would like to state that I am proud to call Robert a Colleague and fellow CMPS."

Money Merge Accounts: Are You Dealing With a Professional?
Does Your Competition Hate You?

Ok, two other answers to questions about me others mentioned...

1. I have an agenda, just like everyone else. Only my agenda is like Jason came to realize. I am about spreading the truth about these and how they are being marketed. They are not a "magic pill" or even the best solution for most Americans. The best solution depends on the homeowners unique situation and you need a mortgage professional that understands all options to assist in finding the best solution for you.

2. The reason for cutting off the non-member comments is that spamming was getting out of hand. Anyone who understands SEO understands that when you get to the top of the list on Google, comments simply trying to direct you to their site occur and do not provide value to the post anymore. I mentioned this fact on at least one post before yet many of my attackers feel that I did it for other reasons. Google my name in quotes ("Robert D. Ashby") and you can read their opinions about me.

Now, my character attacks can easily be seen as unfounded, especially when you look at what Jason Leone has to say about me. So, again, formulate your own opinion, but understand who I am and what my character truly is by reading all of the posts on the subject and others of mine as well. You will clearly see their opinions are faulty, or you may still agree, it is your choice.

Good for you Robert!

I too have been attacked in the past by my opposition to how these were being marketed.

My position was that the many of the same people who sold the POAs to the wrong people for the wrong reasons were now being selling these to another group of wrong people for the wrong reasons.

I was attacked for comparing the loan product to a POA. "It's not a POA - watch this great 5 minute video and you'll be convinced just like I did!" - NOT.

Good for you!

Mike...Thanks for the support. The funny thing is that I received a frantic phone call from a guy in Virginia that is being hounded by UFF agent(s) trying to get him to sign up. I am going to contact the guy back (he left a recorded message) and see if I can get his permission to use some of the things he mentions in a blog, podcast or elsewhere, even if anonymously.

I also entertained another idiot UFF agent (an AR member who called me) who obviously doesn't know how to read. (I was polite and professional, not attacking him or UFF at all). He made the same claims, again emphasizing the fact that the homeowner needs to obtain the HELOC (ALOC) and you get paid on that as well. Funny how they claim no refinancing needs to be done, huh?

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