Hi Jennifer,

Thanks for the heads up, I get asked about this all the time from my clients.

I have had a couple people trying to sell it to me so that I can sell it to others.  What they are also not teling you is that in addition to the $3500 software you also have to get a HELOC and a lot of banks are cutting back on them.  My advice "Take the $3500 that you would spend on the software and apply it to your mortgage".  It will get paid off faster.  After all, $3500 is probably a couple years woth of principle since the first few years most of your payments are interest.

Jon- tell them their mortgage advisor can show them how to do it. Really, it's that simple.

Linda- I mentioned that to this guy as well- EVERYONE is freezing lines of credit, and this 'system' is dependent on one. Right now, that makes it an even riskier proposition. On my example loan of $118,000, that $3500 would knock 2.5 years off the mortgage- and you wouldn't have to do anythng else! :)

Jennifer, I have not had the oppurtunity to read your blogs before. I have in the pst been hounded by people to sell this product for them or to give up my client database, which I refused both.

Danny- thanks for the comment. Stick to your guns here! The people pushing this product are nothing but scam artists looking to get rich by preying on people's 'quick fix' mentality. Paying a mortgage off early IS a commitment, and one that does not have anything to do with a software program! :)

Jennifer, I have been in the finance game way to long to fall prey to that. I have subscribed to your blog, so you will be seeing more of me.

I've seen WAY too many Realtors and Loan Officers get involved in these things out of desperation.

I love the charity idea...have you ever been to kiva.org? Microlending. Really cool.

Joe? Where's Rick????

 You CAN pay your mortgage off FAST... in fact, you could pay a mortgage off in as little as 3 days... BUT- you can do it without this fraudulent scam of a program.

I am reporting your comment as spam, and taking it off of my blog. If you'd care to discuss the scam based on it's merits, rather than what some scam-loving mortgage broker did, by all means I welcome your arguments.

Please explain, for me and the great people reading this WHY they need a software program to tell them a common sense way to do something? Just ONE reason that someone can't do this on their own would suffice. Just one. I'll be waiting.

Right on Joe. I think I see your point here(smile). Thanks for the info.

RJ- Do yourself a favor then, and sign up to sell the product. I am sure they will take you on (they take everyone, as long as you pay the fee) and you will do quite well taking advantage of people.

There was no point to Joe's (Rick's) post- it was spam. If you could find one nugget of worthwile information, I will gladly take a look at it. But, much like Nessie, it does not exist.

If I had $3500 for every time I showed a client how to pay off their mortgage early I would not be in the mortgage business any longer.  I would be filthy rich.