United First Financial Reviews

MMA will work with any income. It will work with any mortgage. There are a few things you need to qualify for it though:
1-positive cash flow. If you make $100 a month but spend $99 a month, MMA will work for you. Obviously, the more you make and the less you spend, the faster it works. There are ways to “create” positive cash flow. Ex: if your monthly expenses = your monthly income but you get paid weekly, you already have 2 weeks of pay as “extra cash” because some months you get 5 paydays. That also works if you get paid bi-weekly. It does not work if you get paid monthly or semi-monthly. Another way to create cash is to move your debt around. If you can consolidate your credit card debt onto your heloc, you have created positive cash in the amount of the monthly credit card payment. Does that make sense?
2-equity. We talked about this before. You need about 10% equity to “play with”.
3-ability to get the correct heloc. I think most lenders require a credit score around 620, but I’m not sure. The heloc has to be the right one though, or it won’t work.

As far as using a credit card, I don’t think it would be wise and here’s why. When you use a heloc to do this, any interest you pay is usually tax deductible and it isn’t on a credit card. So you can potentially recover some of that cost. Also, a heloc varies it’s rate according to prime, whereas a credit card still uses “universal default” which is where they can change their rate if you are a little late on ANY OTHER BILL – even if they offer you a fixed rate initially. Also, the late charges on a credit card are ridiculous, plus I don’t think they calculate interest in the same way. I don’t think they adjust the balance upon receipt of your payment several times throughout the month. I don’t think you have as much control over the balance as you do with a heloc.

I have the philosophy in life that generally people are smart and do the best they can.

The Money Merge software is a product of United First Financial, this software is, has, and will help many average homeowners save a ton interest on their mortgage.

There seams to be a debate over whether or not you can do this on your own or not. Let’s look at the design and the concept. The Money Merge Software uses mortgage products already in existence, i.e. a first mortgage (closed ended loan) and a home equity line (open ended loan). The concept is to run your entire cash flow through your home equity line and make large payments towards your first mortgage. This formula cancels out interest and knocks years off your ultimate payoff. Yes, in my opinion can you do this on your own, because anyone (with the proper credit) can access these mortgage products from the banking and mortgage industry.

I think the real question is, can you be as efficient on your own as the Money Merge software? So let’s imagine you have both a first mortgage and a home equity line in place, you start running all your cash flow through the home equity line. When do you send the first large payment to your first mortgage and how much do you send? How long do you wait to send the next large payment and how much is that one? Have you been as efficient as the Money Merge software? Now lets ad some real life variables in the mix. You have sent your first large payment towards your first mortgage and your transmission on your car goes out. You are running all your cash flow through your home equity line so you make another large payment to the transmission shop. How does this affect your overall picture and now how long should you wait to send the next large payment to your first mortgage with this new variable? Now you have an unexpected doctor bill etc, etc, etc. So yes you can do this on your own, but how much time and effort is needed? Have you been as effective as the software? The interest on the home equity line is normally higher than your first mortgage, so it is important from and efficiency stand point to move your funds at the optimal time and in the optimal amount.

Yes there are e-books that can assist you for $97.00 on the internet, and there are free spread sheets that can do some of the work, but in my opinion they can not replace the efficiencies of the software. Its like thinking because a typewriter can write a letter, you don’t need your computer and Microsoft Word. The computer coupled with the software gives you a lot more efficiencies. You can cut down a tree with a hand saw or a power saw they both work, but one is a lot faster and takes a lot less time and energy. United First Financial has spent millions of dollars on the development and deployment of this software and is continuing to spend millions on its future development.

Anyone can go on the internet and get a free operating system but you do not see very many people doing this, why? No support, no one to call if something goes wrong, and most other software programs you would buy may not be compatible, it is very risky and there is no support. So most of us don’t use free operating systems, we pay Microsoft or Apple for a operating system that has unique development and support included.

United First Financial is a company in good standing and has a strong track record. You not only get the software and all the updates for life, you get your own personal customer support representative who you can call anytime. You have an internet based software product that is accessible almost anywhere in the world that you can get an internet connection. That means you are not alone and have the expertise of the entire company working for you. You have a staff of highly evolved software developers that have built and are continuing to find efficiencies and build them in. You have version after version, and in each new version you have new features and more efficiencies. Let’s be honest, we all know that we get what we pay for in life. You can get a brand new $12,000.00 car or you can get a $60,000.00 car. They will both get you there, but one will get you there a lot faster, a lot safer, and in a lot more comfort than the other.

The 30 year mortgage was developed by the banking and mortgage industry to benefit them, not the average American homeowner. When change happens there are almost always skeptics, but the most valuable things in life in my opinion come from the unknown. This concept is not a scam it is just basic math, so whether you do it completely on your own, get a free spreadsheet, purchase an e-book, or get one of the software products now on the market, do it now as they all work! The question in my opinion is a question of efficiencies and support.

For most people their home will be the single most expensive purchase they make there entire life. Ninety seven percent (97%) of Americans retire at or below the poverty level. If you take all the mortgages in America that are held by people who have owned their homes for over ten years, they owe more now than ten years ago when they originally purchased their homes. Most American’s with a mortgage keep cashing out there equity and digging a deeper hole. This product works for the average guy and has been designed for simplicity. If you can get on the internet you can do this, it only takes a few minutes a month.

I strongly invite you to make a substantial change in your life and make a life altering change to your financial picture, do a free analysis with a competent United First agent, see how much money you can save in interest, and how many years you can shave off your mortgage. It won’t cost you a dime to have a free analysis done, but you can then have all the information you require to make a relaxed and informed decision. This is real money and it is your money!

Pay off your mortgage early and invest the savings or purchase more real estate, use the software to pay off the second property, do it again and again! Were will your mortgage balance be in 7-11 years? We all know what to do but 97% of Americans are not doing it

Albert Einstein once said that “the definition of insanity is doing the same thing over and over again and expecting different results” Will you just keep sending that mortgage payment?

I bought this program… and I am about as cheap as they come. The most I have ever spent on an automobile is $3400. I paid $250 for the motorcyle I have driven for 18 years, $500 for my boat AND trailer, and my hang glider I got by trading in an old guitar.

I am also a sheep… as I have been paying my mortgage for almost 17 years and so have already paid the lionshare of the interest. This program is only going to save me about $48,000. in interest on the house I am in now.

That is a return on my investment of how much?

Now… could I do it myself?

Maybe.

First… Great news! I did not have to spend $100 on a book to explain the concept because United First Financial teaches the concept for free in their seminars. I had to listen several times and take notes… but I got it.

I figured there are two ways to do it without buying the software…

One – as a guessing game.
Since this is math… and not horseshoes or handgrenades, I discarded that option… as I realized a 7% margin of error (on this home) would cost me more than the software. For people who are saving $100K, $150K, etc., that margin of error gets much smaller.

Two – I could do the math.

I love math.

First… I had no ideal how to set up an excel spreadsheet so that I could do the math required. I figured that I could probably learn. That takes time. Then I would have to recalculate those numbers at least monthly, and I could not begin to guess how long that would take each month, month and month, every year, for the 6 more years it will take me to pay off my mortgage. SO… math… or… the beach… or sleeping late, or…?

I joined a gym years ago… only spent $450. Went 6 weeks. Quit.

Anyway… I discarded those two options and set about justifying paying $3500 for a software program to save $48,000.

Then I realized… I am going to be buying another home after this. Maybe two or three. So… since I can use this for those homes also, I started calculating how much it was going to cost me, per month, to use this program if I divided the $3500 cost by the number of months I would use it. I figured out it was going to be somewhere between $10 and $26 a month if I use it on this, and just one more house.

Since doing the math on my own (if I could learn how) would probably take me at least 1-3 hours per month… as opposed to using the software and taking 10-20 minutes, I realized that NOT using the software would mean that I was paying myself less than $10 an hour to do this job myself.

I pay my next door neighbors kid $15 an hour to work around my house. He is 14.

I pay $25 a month for my Blockbuster Movie Pass (I love Denzil).

Neither one of them is saving me a dime, paying off my mortgage, building equity or saving me time.

Then I realized I was an huge idiot and I wrote the check for $3500 out of my equity line.

Personal decision.

I am a homeowner who has been on this program for about 6 months and I just wanted to share my experience in case it may help anyone to make a final decision.

My husband and I both work full time, have 2 kids, mortgage pmt of $1100 per month, discretionary income was $200 per month. First thing we did was to consolidate our debt onto the line of credit (heloc) which freed up money to bump our discretionary income up to $850 per month. Next, we started charging everything we could on our credit card. That was gas, groceries, tv, cell phones, everything allowable; then paying the credit card in full each month with the heloc. We followed with removing our escrow from our mortgage and paying it outright; which lowered our mortgage pmt and freed up even more discretionary income. After doing all of this, we were amazed at how quickly all of that debt was gone. Our heloc was paid down within 3 months! Then the program prompted us to transfer about $3200 from our heloc to our primary mortgage as a principal only pmt. We are now very close to having that amt pd down and will be making another transfer in the next 5 weeks.

One thing that I haven’t heard anyone discuss is how much easier our finances are to handle now. I don’t spend near as much time sorting through and paying bills. It has simplified my financial situation. We apply our paychecks weekly and balance our MMA with our heloc statement monthly. I spend maybe 30 minutes per month on my bills and updating our MMA. That’s it! Everytime I add income or expenses into the MMA, I can see directly what effect it has on our payoff. I no longer charge stuff and make pmts on anything (credit cards, dept stores, home improvement, loans, etc).

Another really cool thing is that because we deposit our paychecks weekly, we don’t have a pmt due at the end of the month on the heloc. The bank adds interest onto the heloc and accepts our weekly deposits as our pmt. We get a statement in the mail monthly, but only use it to make sure that our MMA agrees with the bank.

In doing these things, we have paid down the principal balance of our primary mortgage by about $5000 in 6 months! That is amazing and I am very pleased with our $3500 investment. Not only have we cut a huge chunk in our mortgage, but we have also simplified our finances, and consolidated all of our other debt (which I’ll admit wasn’t extremely large to begin with which I think is why it was paid down so quickly). Not to mention that we had 28 years left on our mortgage and are now looking at 8.3 years to be not only mortgage free, but also completely debt free (including having the heloc paid in full).

I just want people to know that I am a homeowner, not an agent. The only thing I have to gain from posting this is the hope that it will help some people to experience the same sense of relief and freedom that I have experienced through this product.

Good luck everyone – I hope this post helps some of you.