The "mortgage accelerator" software products (in their various incarnations) seem to be gaining steam. I thought we might corale FW resources to start a project to create our own "prepayment software." From prior threads, I know we have a lot of technical resources. The software could be promoted via FW, SEO, blogs, and MMA sites. The price would be relatively inexpensive, say under $100. I would be willing to invest up to $15,000 to the project and encourage the majority of the money to be spent on sales & marketing or IP protection. All participants, especially programmers, would receive economic benefit via royalty or license share.

Below, I outline some very rudimentary thoughts regarding the project.

Software Features:
- allows entry of income and expenses
- calculates amortization tables on the fly with prepayment options
- includes all of the graphs and charts comparing scenarios
- permits modeling of spending impact (one-time or repeated purchases)
- incorporates a switch for HELOC use
- what else?

Resources:
Software Architect (1-2 people)
Requirements List
Programmers
Testers
Marketers
- what else?

General characteristics:
10,000 - 50,000 lines of code?
underlying language? web-based and/or SaaS?
GUI?
database?

Modules:
amortization calculator
graphing / charts
database
income / expense
HELOC
??

Manhours:
5,000 - 10,000?

Please see following threads to get an idea of the insidious nature of the current offerings and why I believe there could be great demand for a competing, low-priced, intuitive, and simple software that is honestly marketing.

Accelerator Myths and Facts FAQ
Free accelerator software analysis
Archived MMA thread

Your input is greatly appreciated.

d

My issue is that my HELOC rates are about 3% higher than my 30 yr fixed rates (e.g. 5.5% vs 8.5%). Does a mortgage accelerator work when the spread is that significant? My understanding is that without a HELOC, there is no real "benefit" and I'd be better off just plunking the additional principal down as I seem fit.

Unless the software is integrated with the user's other financial products and provided automated money transfer/payment tasks, I do not see how any small advantage (if any) of the MMA over HYS would be worth the hassle of using it.

mikef07 said:Knowing you, you have no chance of this ever getting off the ground. Can't wait to see in 1 year when this whole thing should be able to get off the ground with a solid marketing plan.Having never met you and only knowing you by your posts here, I'll assign weight to your comment similar to what most FW members think of your contributions to FW: worthless. Thanks for stopping by.

There already is $99 mortgage accelerator software in google ads. So it's a question of how this would compete.

mikef07 said:Knowing you, you have no chance

For having the perfect wife, the perfect job, the perfect pro-athlete and CEO friends, and everything else in your life...you are sure are bitter and feel the need to lash out at anonymous internet avatars whom you don't know at all.

asdf9876 said:mikef07 said:Knowing you, you have no chance

For having the perfect wife, the perfect job, the perfect pro-athlete and CEO friends, and everything else in your life...you are sure are bitter and feel the need to lash out at anonymous internet avatars whom you don't know at all.

I did not start it. i came into this forum a little over 2 years ago? and merely answered a question. It was a career and compensation thread. I answered honestly and gave info. At that time a bunch of people that were regulars here attacked me, tried to say I was lying, and that my job did not exist. At that moment I said screw them. If they want to attack me and my integrity I will fight back. The mods, as usual, did nothing so I defended myself. Now if I express my opinion and people don't agree I don't care. I have been far too successful at too many things to take crap from anyone here. The internet, (this forum especially), is full of people who always tell others what can't happen and what they can't do. I guess I do what can't be done and can't happen such as making $200,000+ in the med industry, achieving 12% returns with similar or less risk than S&P index funds, etc. I only lashed out when others lashed out at me first. You guys made the rules, I just play by them and play by them better.

This post is yet another example of a blowhard that is all talk and no action. This guy will never get this project off the ground. If I started this post in 1 year I would have the link to the software's website with full marketing implemented. I am talk and action.

A Fatwallet originated and promoted product is one smart idea.

But I can't think of a less likely candidate than an UFF competitor. We all know these systems have no intrinsic value, which IMO relegates them to MLM schemes or hard sells through very well oiled marketing machines able to sell a package deal with the crap promoted as added value. Like a bank.

There is also the problem of asking forum members to turn into shills for a product we denigrate. Imagine a product you have invested in, that only Mikef tries to put a positive spin on. Ouch.

mikef07 said: The internet, (this forum especially), is full of people who always tell others what can't happen and what they can't do. I guess I do what can't be done and can't happen such as making $200,000+ in the med industry, achieving 12% returns with similar or less risk than S&P index funds, etc. I only lashed out when others lashed out at me first.
So you didn't like it when people told you "what you can't do"?
mikef07 said:Knowing you, you have no chance of this ever getting off the ground. Can't wait to see in 1 year when this whole thing should be able to get off the ground with a solid marketing plan.
And now "you lash out" first. Pretty hypocritical if you ask me.