ellory said:From the OP Simply post the following and we will show how the MMA comes out behind what you can more easily do on your own.

How long does MMA say it will take until your mortgage is paid off?
What was the amount you owed on your mortgage when you began this program?
What is the total amount of interest you will pay by using this program? (This number should be in the total interest paid column on your analysis)
What is the interest rate of your mortgage?

I already posted this.

My rate is 8.25 1st and 9 2nd

My credit line is $120,500

Why won't any of you go to one of the websites and get your own analysis done? And then you could pick your own apart.I know what mine is doing for me. I think you are too afraid to be proven wrong.

Woops I made a mistake Imy wife pays the bills and I was off a bit. I am paying off in 7.1 not 7.8 years Interest rate 1st is 8.25 2nd was 9.25 now is 9. I have 7000 in and 5200 out each month. Paying 0ff $289,500 total debt.
Regular 30 yr Am sched Not including paying off any other debt
1st mtg balance//debt paid//interest paid
1 $171,781.88 $7,562.63 $25,292.05
2 $171,545.06 $15,823.14 $49,886.22
3 $171,287.95 $24,863.88 $73,700.16
4 $171,008.79 $34,779.67 $96,639.05
5 $170,705.74 $42,569.95 $118,636.84
6 $170,376.69 $48,591.86 $139,830.93
7 $167,156.09 $58,363.75 $160,041.32
8 $163,388.36 $68,513.21 $178,970.40
9 $159,297.75 $75,884.09 $197,033.28
10 $154,856.61 $83,913.21 $214,437.92
11 $150,034.91 $92,659.46 $231,125.43
12 $144,800.03 $102,187.04 $247,031.61
13 $139,116.56 $112,565.90 $262,086.51
14 $132,946.05 $123,872.27 $276,213.90
15 $126,246.78 $136,189.15 $289,330.78
16 $118,973.44 $149,607.08 $301,346.61
17 $111,076.84 $164,224.67 $312,162.78
18 $102,503.53 $180,149.46 $321,671.75
19 $93,195.57 $192,804.43 $329,859.11
20 $83,089.99 $202,910.01 $337,171.29
21 $72,118.45 $213,881.55 $343,617.51
22 $60,206.73 $225,793.27 $349,123.55
23 $47,274.27 $238,725.73 $353,608.85
24 $33,233.61 $252,766.39 $356,985.95
25 $17,989.78 $268,010.22 $359,159.88
26 $1,439.68 $284,560.32 $360,027.54
27 $0.00 $286,000.00 $360,037.44

MMA
Date 1st MTG / Balance Total Debt / Paid Total Interest
2008 $171,781.88 $30,944.76 $23,509.92
2009 $171,545.06 $64,790.59 $44,118.77
2010 $171,287.95 $101,809.47 $61,554.57
2011 $147,245.66 $142,254.34 $75,564.38
2012 $103,301.79 $186,198.21 $86,075.19
2013 $55,592.26 $233,907.74 $92,820.34
2014 $3,794.42 $285,705.58 $95,477.18
2015 $0.00 $289,500.00 $95,503.27

The old way I would pay $360,027 in total payments only on my 1st mortgage and $286,000 in interest

The new way I pay $289,000 in total debt and only $95.503 in interest on 1st, Heloc and all other debts combined, and I have the title to my car.

kamalktk said:nm.
What is NM? Did you make a mistake?? Not one of you experts on here omg.

Exactly! This is why you guys are stupid not me,(Calvinandhobbs) . What you don't understand is that the $1800.00 is not spent each month, only a small amount of it is, and I always can access it when I need it. If I am not using it it is cancelling interest for me instead of earning it for the bank. It is used to buy small portions of simple interest money several times a year from the Heloc to pay large chuncks of principle down on the primary mortgage to affect that loans compound interest amortization. This is why you need to get your own analysis run and learn something about this before you shoot it down! You can't compute it because you don't get it. This is where the software comes in handy because people can't do it on their own and get the results that the Money Merge Software gets.

I should not have to waste my time on your ignorance. Read my last post and Google compound interest and then Simple interest. Closed end loan and open end loan. A portion of the discretionary income, in my case 1800.00 is used to pay simple interest to use the banks money to pay down principle and cancel out compounded interest. Here is an example that was shown to me to help me understand haow it works:

Month 1:
Day 1 -$3,500 Money Merge Account one-time fee

Day 2 -$4,000 Living expenses
-$7,500 Average daily balance

Interest Cancellation
-$7,500 Average daily balance owed
Day 3
$5,000 Paycheck (deposit)
-$2,500 New average daily balance

The bank can only charge interest on $2,500:
$20.83

Money Merge Account Month 1 Conclusion

-$3,500 Starting balance
-$2,500 Average daily balance

Lender was looking for $20.83 in finance charge
They never made a monthly payment of $20.83
Their income covered their monthly payment
New average daily balance with finance charge: $2,520.83
They made a payment to the ALOC of $5,000
-$7,500 Money borrowed from ALOC
-$2,500 Interest assessable balance

You paid NO interest on the $4,000 you used to pay your living expenses

Money Merge Account Month 2
-$ 2,521 Balance owed
-$ 5,000 Pay down 1st mortgage
-$ 4,000 Living expenses
-$11,521 Average daily balance

Interest Cancellation
-$11,521 Balance owed
$ 5,000 Paycheck (deposit)
-$ 6,521 New average daily balance

The bank can only charge interest on $6,500:
$54.34

Money Merge Account Month 2 Conclusion

-$2,521 Starting balance
-$11,521 Average daily balance
-$6,521 New average daily balance

Lender was looking for $54.34 in finance charge
They never made a scheduled monthly payment of $54.34
Their income covered their monthly payment
New average daily balance with finance charge: $6,575.34
They made a payment to the ALOC of $5,000

-$11,500 Money borrowed from ALOC
-$6,500 Interest assessable balance

They paid NO interest on the $5,000 They used to buy down the principal balance on their primary mortgage

They traded $23,304 of scheduled closed-end interest charges for the open-end finance charge on $6,500:
$54.34 + $20.83 = $75.17

Now for the next few months the discretionary income will reduce the HELOC down to a low level until the software sees that the Heloc can not accumulate positive cash, so it will prompt for another funds transfer. On this scenereo, if it does this 3 times per year you will have cancelled out over $69,000 in interest. So now you have traded small simple interest fees to pay huge amounts of principle and keeping a low amount on your credit line until they are both paid off simetaneously in 7,8,9 years, sometimes less sometimes more.

mhesidence said:Those number are hard to follow.

debt paid + interert paid = money spend each year?

So old way $32854.68 for the first year?
MMA way $54504.68 for the first year?

Or $21650 more, that seems to match the $1800 extra each month) so if you do it the old way where do you put that extra money? I assume not a checking account earning 0% interest. You can easily get 5-6% in a money market account. Is that taken into account?

Also the MMA way's intrerst rates are 8.25% on the 1st, today's 30 year mortgate rates are much lower than that, easily 2% lower. What is the rate on the "old way"?

The 1st mortgage balance is not right. The 1st year it is 171,781.88 the 6th year it is $170,376.69, dropping only $1405 in 6 years, sorry no.

I am responding in the order of her questions one by one.

Remember I am paying off $114,000 besides my 1st mortgage.

My HELOC is my checking account, I deposit all of my $ into it.it does everthing a checking account does, online bill pay, checks, debt card. I pay all of my bills with AMEEX and float another 45 days of the banks money and pay it off in full with the HELOC.

The interest rate is my rate I have not refinanced, UFF is not a financial institution, it is a software company.

This is the old way, you are right it is only dropping 1405 why would I want to do that? Look at the difference between the two comparasons.

I am attacking the debt I paid off with the HELOC first so my HELOC is reduced. My 72,000 2nd mtg, car and credit cards in the 1st 3 years. Look what happens between year 2010-2011 and 2011-2012.

No I don't I told you I made a mistake and corrected it. I have an interestonly loan.

You obviously don't get it. You make no sense. Use the numbers listed on here. Even if they are off by a few dollars they still are better than you can do on your own. Why don't any of you get your own analysis run and post the results on here? It is free and you won't be pressured to buy anything.
Are you afraid you will be proven wrong? The numbers just might shock you and then you would have to come back on here and admit that it works and is not a scam.

If somehow you could refinance all of the $286,000 in debt to a normal fixed rate mortgage of 8.125% then the amount you would pay in the exact same time that the MMA would take is

$286,000 + $91530.96(interest on a normal mortgage accelerated to pay off in 7.1 years)= $377,530.96 is the actual amount of money you will spend doing it on your own.

The MMA result is:
$289,500 + $95,503 = $385,003 is the actual amount of money you will spend in 7.1 years using the MMA according to your numbers

The MMA will cost you $7,472 more than doing it on your own at 8.125%

At a 8.75% interest rate it would cost you $286,000 + $98,780 = $384,780 (actual amount of money it will cost you over 7.1 years)

8.75% is your break even point. If you can find a loan for $286,000 for under 8.75% interest rate then you spend more doing the MMA. If you find a loan for $286,000 with an interest rate higher than 8.75% then the MMA is better

SUCKISSTAPLES said:but the shill doesnt have that much equity in his home and cant roll all his debt into it, especially after rolling the $3500 UFF fee into it.

You would think he has to have that much equity to get a HELOC for that amount. Maybe he doesn't.
Giovanni do you have that much equity.

Well then all we can say is that his 1st is at 8.1 (less than his break even of 8.75), his 2nd is at 9%(more than his break even) and his BMW is hopefully less than 8.75% and when you average all of his debt out he should be around 8.3% to 8.5% which means he should have stuck with doing it on his own from a financial standpoint. I was under the assumption from his 1st post he did it for behavioral reasons.

BTW these are horrible rates.