Lynn Spivey
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Most homeowners realize they will pay about twice the purchase price of their home on a traditional mortgage and their home will take about 30 years to pay off.
Introducing a way to break that cycle of financial drain with the Money Merge Account. Developed by a team of financial experts with years of experience in the mortgage industry, the Money Merge Account rapidly reduces the principal of your mortgage, practically eliminating the interest from accruing on your loan. Your current mortgage can now be paid off in a fraction of the time, with little to no change to your lifestyle, and without refinancing your existing mortgage.
The Money Merge Account is not a bi-weekly payment or debt roll-down system. It's an entirely new approach that gives homeowners flexibility with their money and complete financial freedom.
The Money Merge Account consists of three major components:
- Your Existing Primary Mortgage - The existing mortgage on your home is the foundation for the Money Merge Account.
- A Home Equity Line of Credit (HELOC) - The Money Merge Account Program uses an advanced equity line of credit as a vehicle or a tool to drive the program. 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 vs. 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.
- Money Merge Account Software - The online Money Merge Account system makes a connection between your bank account, the home equity line of credit and your primary mortgage. Each time you deposit 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 algorithms in the proprietary Money Merge Account system are systematically programmed to create the highest interest savings possible in the least amount of time.
Comparison
Money Merge Account vs a Bi-weekly payment plan or a 15 year Mortgage:
If you had a 30 year, $200,000 mortgage at 6%, with a $1,199 monthly payment - which option would you choose?
|
$200,000 Mortgage |
30 Year Mortgage | Bi-Weekly Plan | 15 year Mortgage | Money Merge Account |
|
Payment
Total Interest Paid Payoff Term |
$1,199 / Month
$231,277 30 Years |
$599.55 / 2 weeks
$182,053 24.5 Years |
$1,714 / Month
$108,671 15 Years |
$1,199 / Month
$70,449 10.4 Years* |
| $400,000 Mortgage | ||||
|
Payment
Total Interest Paid Payoff Term |
$2,398 / Month
$463,354 30 Years |
$1,199 / 2 weeks
$364,105 24.5 Years |
$3,375 / Month
$207,577 15 Years |
$2,398 / Month
$190,001 13.8 Years** |
* Based on $5,000 Monthly Income - $4,000 Monthly Expenses = $1,000 Discretionary Income
** Based on $6,000 Monthly Income - $4,800 Monthly Expenses = $1,200 Discretionary Income
Bottom Line Results
30 Year Mortgage - Paid for Home twice. Total Interest Paid + Original Loan Amount.
Bi-Weekly Plan - 13 Applied Payments / Year - Additional out-of-pocket expense, does decrease mortgage term and save interest.
15 Year Mortgage - Reduces Loan Term but does required higher monthly payment.
Money Merge Account - Shortest Mortgage Term, keeps monthly payment the same as a 30 year loan, largest interest savings.
Your Money Merge Account
- Acts as Your Personal Financial Crystal Ball - Run different scenarios with the software program and decide for yourself what's best for your situation.
- Tracks Your Money - Update your account register in about 10 minutes a month and always have an exact balance status report at your fingertips.
- Comes with Professional, Personal Support - Need Help? Call your Personal Account Manager for one-on-one Lifetime support.