MMC - Live Mortgage Free » MMA Benefits

Pay off your mortgage…..

admin — Tue, 04 Mar 2008 23:36:24 +0000

Qualified homeowners using the Money Merge Account system can now potentially pay off their mortgage in as little as 1/3 to 1/2 the regular time – with little to no change to their day-to-day spending habits and without increasing their minimum required monthly mortgage payments.

Reducing monthly payments / including other debts

admin — Tue, 04 Mar 2008 23:32:25 +0000

The Money Merge Account is much more than just an accelerated mortgage payment option. Other debts (e.g. credit card balances, personal loans, overdrafts etc.) can be transferred to the Money Merge Account - which means you benefit from paying less interest on many of your debts instead of expensive, unsecured rates. The reduction on your minimum monthly payments can be significant.?And if you’re concerned about rolling all your debts into one big balance, don’t be. You’ll be able to break your debts into individual repayment plans. So you can have a plan for your mortgage, a plan for your credit card balance, and a plan for your loan. We’ll help you budget to pay off what you want when you want, and you’ll be able to see each element of your debt falling month-by-month in line with your plans.

Buying a second property

admin — Fri, 25 Jan 2008 04:57:09 +0000

Because the Money Merge Account is secured against your home, many times you can spend up to 100% of the property value. So if you’d like to use the equity in your home to buy a second property, it’s ideal! You can borrow at a very low mortgage-style interest rate while retaining the flexibility to pay back as quickly as you like.And you can set up a separate payment plan just for this. That way you can focus on paying this part of your Money Merge Account balance off as quickly or as slowly as you want - and check your overall plan whenever you like. And you can set up a separate payment plan just for this. That way you can focus on paying this part of your Money Merge Account balance off as quickly or as slowly as you want - and check your overall plan whenever you like.

Funding a major purchase? New car, Holiday Home, Boat etc.

admin — Fri, 25 Jan 2008 03:19:09 +0000

1. The Money Merge Account can help in a number of ways.

Depending on whether you want to build a lump sum of equity to fund a purchase, borrow the money, or do a little of both.

2. Building a lump sum.

Many mortgage programs on the market give you the chance to overpay your mortgage each month. But if you’re looking to save for a major purchase (e.g. a holiday home, a car or a boat) at the same time, you haven’t got the flexibility to do so. The Money Merge Account lets you have your cake and eat it too. It allows you to put money aside each month for the purchase and use this money to reduce your balance while you build up the lump sum. With the Money Merge Account, you’ll be able to set up a savings plan just for this. That way, the savings part of your balance can be seen separately from the rest of your Money Merge Account balance, and you can budget to build up the lump sum by the date you want.

3. Borrowing at a mortgage-style rate.

Traditionally, if you haven’t got enough saved for a major purchase like a new car, your only option is to apply for a loan. This usually means taking out an auto loan or using a credit card, many times at higher interest rates than you pay on your mortgage. The Money Merge Account can be a much cheaper way to pay, because everything is paid back at a low mortgage-style interest rate.

4. And you can set up a separate loan plan just for this.

That way you can focus on paying this part of your Money Merge Account balance off as quickly or as slowly as you want, and you can check your overall plan whenever you like.

Repaying your mortgage early

admin — Thu, 10 Jan 2008 05:44:37 +0000

When repaying a mortgage,it’s not the rate you pay that’s most important. What matters most is the total amount of interest you pay over the term of your loan. With the Money Merge Account system you use your line of credit to reduce the balance owing on your primary mortgage, and you reposition your regular income and your unused “stagnant” money you normally leave sitting in your regular checking and/or savings account to reduce the balance owing on your line of credit. By repositioning your regular income and your unused “stagnant” money you normally leave sitting in your regular checking and/or savings account, you are able to keep your line of credit balance as low as possible which can significantly reduce the interest that would normally be charged on the line of credit. This means more of your money goes towards your principal balance each month, helping you repay your mortgage years ahead of your standard mortgage schedule. The online software system and customer service provides crucial guidance as to the specific transfer amounts and timing that is needed to provide each individual homeowner with the best interest savings possible under this system. Optimum interest savings under this system is a delicate balance between your primary mortgage, your line of credit, your income, expenses, transfers, etc. If you transfer too much to your primary mortgage, it can cost you more interest on your line of credit. If you transfer too little, it can cost you “lost” interest savings on your primary mortgage. This system helps homeowners to reduce both the interest and time owing on their existing mortgage by strategically positioning their money where it can provide much more financial benefit than “sitting stagnant” in a standard checking or savings account. Also, unspent “stagnant” money that homeowners would normally leave in their checking and/or savings account is now working for them 24 hours a day without requiring them to change their lifestyle. When you need money for expenses, you can access it through your line of credit. Vast financial features and details programmed into the MMA software help to better educate the homeowner and assist in the greatest time and interest savings possible under this system.