After deciding to buy our new home, my husband and I decided to pay off our mortgage as quickly as possible. We loved the idea of being debt-free and owning our home. If we had our home paid off, we knew that our home would appreciate over the years and we could make money selling it.
I looked every possible way we could pay off our home without being so frugal that could not go see a movie or severely disrupt our current lifestyle. Since neither of us is very tight with our budget, we decided that the money merge account was the best way to stick to our mortgage-free plan. It gave us a system that would keep us on track.
Let me explain how the money merge account (MMA) is helping us pay off our mortgage in about eight years. The Money Merge Account Program uses an ALOC or Advanced Line of Credit (also known as a Home Equity Line of Credit) as the key component of the system. The ALOC operates similar to a checking account, and works with the web-based program of the MMA. The web-based program uses advanced algorithms to connect your primary mortgage, the ALOC, and your bank account. Every time you deposit income into your bank account, you transfer it to your ALOC. Then you instruct the MMA software the amount of money you deposited. Over time the MMA software will direct you to pay additional principal towards your primary mortgage.
The software is designed to compute the exact amount and the exact date that you should pay to gain the maximum benefit, which is the shortest time it will take you to pay off your mortgage balance. This program cuts down the balance on which interest accrues, so increasing the amount of your monthly mortgage payment that is directed towards your primary mortgage balance.
With the MMA program you can achieve an early mortgage payoff in about 8 to 15 years. It is ideal for anyone that does not want to refinance their mortgage or significantly change their lifestyle. If you would like more information about the program, you can speak with a representative at United First Financial. There are seminars across the country to get you more acquainted with a fast mortgage payoff.