How the Money Merge Account Works
Three Major Components
1. Your Existing Primary mortgage
The existing mortgage on your home is the foundation for the Money Merge Account.
2. An Advanced Line of Credit (ALOC)
The Money Merge Account Program uses an advanced equity line of credit as a vehicle or a tool to drive the program. The equity line of credit must have the capacity to operate similarly to a primary checking account and be set up with an open-end interest calculation (rather than a closed-end interest calculation). Combined with the Money Merge Account's web-based system, this creates a formula in which the money in your line of credit account generates an interest cancellation on your primary mortgage.
3. Money Merge Account software
The online Money Merge Account system makes a connection between your bank account, the advanced line of credit, and your primary mortgage. Each time you deposit income into your account, it registers as a decrease to your mortgage balance. By decreasing your mortgage balance, you now lower the balance on which interest accrues. By decreasing the balance on which interest accrues, you increase the portion of your monthly payment which is credited toward your principal pay down. The algorithms in the proprietary Money Merge Account system are systematically programmed to create the highest interest savings possible in the least amount of time.
Frequently Asked Questions
Q. Do I have to change banks?
A. It is not necessary to change banks. After signing up for the program, we have a customer support team that will assist you in orchestrating your banking needs with your Money Merge Account program.
Q. Do you make payments for me?
A. No. We do not have any access to your accounts. You will be initiating all transactions by following the prompting of your online Money Merge Account. You will be in complete control.
Q. Do you have access to or control of my money?
A. No. You are the only person with access to your accounts.
Q. Do I pay interest on the equity line of credit?
Q. Can I contact any of your client references to hear about their experiences with Money Merge Account?
A. Due to privacy regulations, we are unable to provide personal contact information for references. However, you can view actual clients using the Money Merge Account program on our Money Merge Account informational DVD and you are welcome to research our company through the Better Business Bureau web site at www.bbb.org
Q. What happens if I sell my home?
A. The Money Merge Account program follows your mortgage until it is paid off. The line of credit the Money Merge Account uses will have no effect on your ability to sell your home. Once you have sold your home and purchased another residence, we can put the Money Merge Account back into action on the new residence. Also, all the equity built in the account, as well as the equity built with market appreciation, will make a great down payment on the next purchase.
Q. Can anybody qualify for the Money Merge Account?
A. It is important to go through a brief questionnaire when applying for the Money Merge Account program. Fortunately, there are several avenues that can be taken to gain approval or tailor the program to work for your specific situation, but the Money Merge Account program is not for everybody.
Q. Do I have to refinance my existing mortgage loan to make this work?
A. No. It is not necessary to refinance your existing mortgage loan. You may choose to refinance your mortgage for additional interest savings but refinancing your existing mortgage loan is not required for the Money Merge Account to work. If you do not currently have a specific line of credit one will need to be opened.
Q. Will Money Merge Account work with an interest only or negative amortization payment on my primary mortgage?
A. Yes. In fact, Money Merge Account helps you to take control of the outcome of these types of loans to benefit you substantially.
Q. Do I need a seperate copy of the Money Merge Program for multiple investment properties?
A. The Money Merge Account is most effective when used to payoff one property at a time. As each property is paid off, your overall discretionary income can increase; creating an accelerated payoff period for each subsequent property.