UFirst Financial - Anybody heard of them?

I am also setting up a new Blog for industry folks at http://www.ClientCentricRealEstate.wordpress.com and will post about this program after meeting with the guy on Wednesday.

I have the MMA or Money Merge Account and I love it.  I had 11 years left on my mortgage and I am going to pay it off in 5.3 years.  My first transaction or payment to my mortgage saved me enough money to get a 100% return on my $3500 investment.  Could have I done this myself?  Partially.  Setting up the HELOC and depositing money in my HELOC, I could do.  But to figure out what to pay to my mortgage to save myself the most money I could have never done.  And the biggest factor is, we all know that putting extra money on our mortgage will pay it off sooner but because we know that once it is there we will not be able to get to it .... so we don't!!

Peace out....................

Kathy

www.callitpaid.com

I stumbled on this blog (of sorts) and feel additional explanation is in order.  First of all, I am a Real Estate Broker in Florida and an Independent Agent for U1st representing the MMA program.  My motivation is not to sell anyone from this site on the product, I just want to share information.  To be perfectly honest, I haven't found one dissatisfied user of the product and I have spoken with, and reviewed the mortgage statements, of hundreds.

In response to the question above "Why didn't someone think about this 100 years ago?" well the answer is probably pretty complicated but I think it boils down to available technology.  That's just my humble opinion, however.  Richard Branson did indeed develop the first idea for use outside the UK and Austrailia.  Our banking systems in America are different than in those areas.  They can have one account that houses everything - mortgage, checking, savings.  We cannot do that in the US, so using the software you are able to accomplish similar results. 

Consider this:  Every night your bank sweeps their accounts and lends out that money to others for a pretty interest rate.  You're likely not getting interest on your checking account (or very VERY little) and only slightly more on a savings account.  What the bank earns on lending out your money they use to cancel out the interest they are paying on any interest bearing accounts.  Why can't YOU do that? 

Using a line of credit (HELOC, PLOC, credit card, etc), which has interest calculated on the average daily balance instead front-loaded on the month-end balance like a mortgage, you can move larger chunks of money to the principal (the ONLY way to pay off the balance), for less interest charge on the LOC than on the mortgage.  Anyone who has looked at and understands an amortization schedule will see the benefit right away.  The software facilitates that process by analyzing the optimum time to make that transfer so the user isn't overstepping potential interest charges on the LOC and is making the most of the transfer to the mortgage.  It's not magic pixie dust, just simple math.  If it costs me $54 to take $5000 from a line of credit, which I pay down again with my discretionary income, and that $5000 reduces the bottom-line interest on my mortage by $23000 (net, after the cost of the software and the $5000 chunk), isn't that worth doing?  I'd write you a check every day of the week for $54 if you gave me a check back for $23000, wouldn't you?  The software will not prompt a funds transfer any more regularly than your discretionary income is able to pay down the LOC, subsequently people with more dollars left over at the end of each month see faster results than those with less dollars left over.  Regardless, the initial analysis will guarantee the results if you follow the program.  Let me repeat that for the naysayers - the results are GUARANTEED to be what the company says it will be or you will receive a refund of the purchase price of the software.   Some people will not qualify for using the software - either they are so far into their mortgage that they won't save anything by using it, they cannot obtain a LOC or alternate savings line to drive the software, or they spend more money than they make. 

There will still be some of you who say pooh-pooh.  That's okay.  It takes a while to wrap your brain around a concept when our American banking system has spent a century teaching you otherwise.  But any good/smart investor will tell you you can make more money using OPM than your own and that's what this program is all about.  I've got dozens and dozens of success stories on the software, and I'm always surprised to find that someone I didn't even know was doing it was using the software - with great success.  What is most common on the many sites who wish to say it's a scam, just MLM (and, btw, no more than real estate, insurance or a mortgage brokerage), or it's too good to be true, what is most common is that none of those people have tried the software themselves and when someone does write a post saying they are using the software and they are seeing results, they are instantly branded as an idiot who is planted to sow a seed.  Unfortunately, a lot of people will be left behind because they didn't keep an open mind.

As a real estate broker I have a fiduciary relationship with my clients.  It is my responsibiility, acccording to my license, to make sure my clients have all the information they need to make the best decisions on their biggest asset.  In a market as depressed as this, people need solutions and this is just one that works for quite a few, though not everyone.  Just as I have heard of and met unscrupulous mortgage reps and real estate brokers, so true is it that there could be an agent of the company that is misrepresenting the software.  I personally know of two financial planners who advised their clients to stop paying their mortgage completely and one mortgage broker who was able to sell clients on a new mortgage (with fraudulent information), have them moved, then their old home was foreclosed.  (They ended up losing everything because of the deception but the only one prosecuted was the mortgage broker.) As for the issue of disclosure, that's a stupid question, really, because real estate agents already disclose any relationships where they will have a financial gain - home warranty programs just to name one, but affiliated businesses is another.  What about title companies that host luncheons or meetings.  By law, those are perks that should be disclosed when you make a referral for another service but how many do you know that make that disclosure.  Yes, Mr. & Mrs. Buyer, I do recommend ABC title because they do a great job, are always on time, and are very easy to deal with.  And by the way, I'd say that whether they host breakfast in our office once a month or not.  Right!

I urge anyone remotely interested in learning the truth to take the time to do that.  Weed through the crap that you find on the internet and speak to people who are using the product.  Spend some time disecting the product.  Read the reports from Mortgage Broker Banker, Personal Real Estate investing and Ernst & Young.  These are not paid advertisements, these are endorsements and recognition for an innovative product that is helping hundreds of thousands of people every day.  Remember when the reverse mortgage came out?  How about the cell phone?  Fax machine?  I-phone?!?!?  Times, they are a-changin', folks, and this is just another tool in the toolbox to help people.  But it is likely going to change the way we bank in America.  And if we don't change something for the GOOD, our economy (personal and national) is not going to get any better.

My email is rosie@ufftreasurecoast.com.  I'll ignore any ignorant emails but would be happy to provide additional information to help you evaluate the program if its something you would like to know about.  I won't defend myself or the product, it's not necessary.  If you want to learn the truth, then ask. It could likely save you thousands of dollars and also give you an opportunity to help your past clients. 

Rosie Lee