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Wanna pay off your Mortgage?...Get rid of your checking account part 2

O.K. here is break down and a complete video giving a visual representation of what has been discussd in my previous Posts specifically a follow-up to this post here

Wanna pay off your Mortgage?...Get rid of your checking account...!

All I can say is this works...I was blown away When I crunched the numbers

To get a further explanation Go here here; http://www.loanacceleration.net/

Thanks

Keith Gill

Posted by Keith Gill on 02/18/2007 11:21 AM

Comments (8)

money merge account

8 Comments on Wanna pay off your Mortgage?...Get rid of your checking account part 2

FEB

2007

I'll be sure to check this out.

Thanks Keith :)

Scott

Interesting concept, I will check into this more, although we do not have a mortgage. I think this new inovative way of paying debts off is great, but will have to check into this further. Thanks for the infor, good post.

Keith I took a quick peak at the DVD...this sounds like an advertisement to me. But I'm somewhat curious...Have you yourself sign up or do you have any customers that have sign up to this program?

Hi Netta, Yes I am using it myself and I have a few of my borrowers that are using exactly this program or a variation of it using a HELOC....

Google this: "Virgin One Account" it's a program that is actually offered through "Royal Bank of Scotland" (RBS) sponsored through "Virgin" (Richard Branson Billionaire guy) This is a comercially availiable program in the UK and Australia that works on the same concepts as using the HELOC to cancel the interest on your first mortgage as discussed in this post...

This concept is widely availiable and used in the parts of Europe the UK and Australia....

Keith Gill

FEB

2007

Good presentation. I know we've talked abiout this but I don't really see why anyone would want to pay off 4% after-tax money.

Keith-

You may not like this, but I'm going to have a negative comment on this.

Matter of fact I had so much to comment on, I made it a blog post.

http://activerain.com/blogsview/48529/Don-t-Accelerate-Your

Enough said, I'll leave it at that.

Keith, your right!! I now have a lender doing this in a alt "a" product.. it is wild when you crunch the numbers

Keith,

While I like the product and offer it as part of my services (I can get paid either way the client chooses), I posted recently an unbiased comparison of a scenario a couple asked me to run as a favor. Here is that post...

http://activerain.com/blogsview/48018/Money-Merge-Accounts-Are

Please remember that in Australia, where this product is most popular, and the other countries this product works best in, 30 year fixed rate loans are not offered. They only recently went to a "fixed rate" for 5 years (our version of a 5/1 ARM). Our mortgage industry offers some advantages over theirs, rendering this product less valuable to most consumers in the US.

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