New Money Merge Account Information
There is a lot of information to be found regarding the Money Merge Account. Much of which is scattered between many sites, hiding deep on some remote page, or buried in the minds of someone who won’t reveal their secrets.
As I brought out in an earlier post, a team of agents that are working with the Money Merge Account under the name The Jubilee Project, have been working on a site that will do a better job of answering the Money Merge Account questions that people want to ask. Their new site is now working and available at the same URL as before: http://thejubileeproject.com
For anyone looking for information, they have a lot of content to check out, now. I played with the site a little this morning. It is divided into sections. Within each section are more sections for those who want more. For more information on the Money Merge Account, check out their site.
Thursday, October 11th 2007 at 12:53 pm
A lot of the questions that people ask about the Money Merge Account can be found on this site as well. I found answers to many of my questions here, though I would like a little more detailed information on a few of them. I added some of the frequently asked questions below. I would have added all of them, but this is already going be a long post as it is. If you want to check out the rest of the FAQ go to:
http://thejubileeproject.com/learn–index/learn-indepth-index/in-depth-faq.htm
Q. What is the Money Merge Account?
A. The Money Merge Account is an online account system that incorporates your checking and savings accounts with an advanced line of credit, or ALOC. Through this program, homeowners have the ability to pay off their 30-year mortgage in as little as one-third of the time, without refinancing their existing mortgage loan or increasing minimum monthly payments.
Q. Why can’t I make extra principal payments to my primary mortgage and achieve the same results?
A. Simply put, the mathematics behind the Money Merge Account present a sophisticated process that has a substantial financial benefit over increasing your monthly payments. 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. The math engines programmed in the Money Merge Account system calculate the specific timing and dollar amounts required to produce the most optimum savings on each individual mortgage and overall financial situation.
Q. Does it make sense to move my savings accounts over to your Money Merge Account?
A. Yes, in moving your savings into your Money Merge Account, you decrease even further the amount of time left to pay off your mortgage. Your customized online site has the ability to build a variety of financial models to help you understand the effect that the money in your savings account will have in decreasing the amount of time it will take you to pay off your mortgage.
Q. Do I make monthly payments on my line of credit?
A. Not in the traditional sense. You will use your line of credit similarly to your primary checking account. Your paychecks will be applied to your line of credit and your monthly bills will be paid from the account. By transferring your income each pay period, the line of credit lender will credit the monthly payment requirement and lower your daily average balance, thus reducing interest charges.
Q. If I am not increasing the monthly payments on my mortgage, how can this program be possible?
A. The Money Merge Account system makes a connection between your bank account, the advanced line of credit, and your primary mortgage. Each time you transfer income into your account, it registers as a decrease to your mortgage balance. By decreasing your mortgage balance, you now lower the balance in which interest accrues. By decreasing the balance in which interest accrues, you increase the portion of your monthly payment which is credited toward your principal pay down. The Money Merge Account system determines the specific timing and amounts for each transfer required to produce the quickest payoff time and highest interest savings possible. There are also multiple financial options programmed into the Money Merge Account software which assist homeowners in paying down their mortgage as soon as possible.
Q. Why am I applying for a line of credit, and how is it associated with my savings and checking accounts?
A. The Money Merge Account Program uses the equity line of credit solely as a vehicle or a tool to drive the program. The Money Merge Account system is coordinated through systems created by United First Financial and works independently of the lender. The equity line of credit must have the capacity to operate similar 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 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.
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 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?
A. There is interest charged on the line of credit. But because your income is sent to your line of credit in different intervals, the bank adjusts the amount of interest they can charge you by offsetting the average loan balance. As a result, the interest charged is greatly lessened.
Q. Why don’t the banks offer this program?
A. The Money Merge Account utilizes banking principles that are accepted by most banks across the nation. The Money Merge Account program simply provides you with the necessary tools to use your money to reduce interest, instead of the bank using your money to earn interest. This is the primary reason the banks do not offer the Money Merge Account program.
Thursday, October 11th 2007 at 4:10 pm
The Jubilee Project isn’t the only place with those frequently asked questions. They are what you might call “common FAQ’s” they can be found other places as well. Here is one link:
http://www.visionforce21.com/faqs.html
Answers can be found all over the place if you will have the patience.
Tuesday, December 11th 2007 at 2:14 pm
I think you’ll find that most of the information is widely available, the product offering the same, the educational presentation the same. The difference? Whether the MMA makes sense to the buyer.
http://www.yourhousepaidoff.com
Regards,
Steve
Friday, October 16th 2009 at 7:33 am
There is certainly a lot of information to know about this!
Monday, December 14th 2009 at 11:10 pm
Jubilee is gone, they gave up on money merge, as are many agents. It’s only a matter of time before it’s gone altogether.
I’ve shown, time after time, the system is flawed and can’t beat do it yourself, not by a penny, let alone by the $3500 to pay for the program.
Tuesday, December 15th 2009 at 12:20 am
I do think the idea behind it was a good one, but the market simply wouldn’t support it, and there are many who were able to get buckled down thanks to the software and get their homes paid off but, alas, that is all history now.