So even if it is a relative / friend / Co-Worker / Someone You Trust. Do your own math more then likely they have not. They are only trusting what they have been told and most likely have not have not done the math themselves.

Once you do the math you will find out it is not worth the outrageous $3,500 they charge.

The calculation of interest is pretty simple. And for many examples, I can do it on my fingers. Rule of 72 says dived interest rate (whole numer) into the number 72 to get time to double. At 6%, money doubles in 12 years. $3500 in 12 years, $7000. Another 12, $14000. 6 more? Well I know that the square root of 2 is 1.414, 40% of 14000 is 5600, so I’ll say the total is $19,600.

Now, let’s go to a calculator – 1.06 ^ 30 = 5.74, and $3500*5.74 = $20,090. Not bad, counting on my fingers provided 97.5% of the accuracy of a computer chip. On the other hand, the 6% is really 1/2% per month, and it works out to $21079, true cost of MMA.

(since 1.006^30 = 1.19, 3500*1.19 = $4188, I suspect that was Jim’s typo)

Final point – While the HELOC shuffle ‘can’ save some money, the UFF MMA product doesn’t implement its use correctly, so even at zero cost, I’d not use the system.

“Interest cancellation” – MMA claims that by loading up the HELOC and running our paychecks through the HELOC, we reduce the balance so much that we save lots of money that way, and that alone is worth $3500. OK, so how much can we save? Well, let’s assume our mortgage rate is 6%. That means each month, we are charged 1/2% on our mortgage balance, the whole balance. But if we are using interest cancellation, the most that we can save is whatever our monthly salary is. So, if we bring home $5,000, the largest HELOC balance we can offset is $5,000. How much will that save? $5,000 times 1/2% is $25. That’s $25 per month or $300 per year. So MMA wants you to spend $3500 upfront to save $300 per year. Do you know how much interest you would save if you just put $3500 towards your 6% mortgage? OVER $4,000.

“Factorial math” – MMA claims no one except a computer can figure out the best possible way to pay all your bills and debts because of all the possible combinations. LIES. There is only one SIMPLE BEST way to pay off all your debts. You pay off the highest interest debt first and work your way down using a DEBT SNOWBALL. It only needs addition and subtraction.

Curious to see if what he has to say if anything.

Moi???? Well OF COURSE I haven’t actually used the product. I’m not about to cough up $3,500 just for giggles. All I need to debunk the software is a pencil and a piece of paper.

“Found money.” LOL – Sounds like I have my next blog post regarding UFF.

Thank you very much for posting the email. By the url, I see it was written by agent Joe Medrano. I love where he claims to have graduated with an Electrical Engineering degree. He continues to explain how the MMA was developed by “Mathematical engineers from GE Aeronautics”. Every engineer knows there is no such thing as a “mathematical engineer”. I sincerely doubt Joe has the degree he says he does. If he does, ask him how large the mathematical engineering department is at the University of Illinois, or indeed, where one can study in this field.

What really burns a lot of us is the talk that about “complex math algorithms that analyze the most important factors in paying debt down”. They act as if basic addition, subtraction, multiplication and division are beyond the grasp of anyone who doesn’t have that elusive “mathematical engineering” degree. In fact, you only need subtraction to beat the MMA.

Month-end bank balance (minus) contingency amount (equals) extra mortgage payment. MMA beaten.

And if he brings up “factorial math”, I wrote a guest blog entry here on the subject.

Zak,

I can appreciate your due diligence in this important matter, however, I firmly believe that you will NOT achieve the same results as our software. I must apologize, but it occurred to me that I never took the time to fully explain why our software system is crucial; I took it for granted that the last agent you were working with explained this to you.

This is what I propose we do. Today, I am sending you a presentation CD-ROM that explain the program from start to finish. This will explain to you how our software will use “found money” that you never thought you had and use it to it’s most efficiency to pay down your debt. This “found money” is not re-adjusting your expenses, but rather, understanding banking principles that only large banking institutions have used for many years.

Our software brings this knowledge to the homeowner level and uses the same principles, so that every penny to your name is ALWAYS earning interest OR cancelling out debt. Have you ever thought that the money sitting in your zero interest checking account could be used to cancel out interest until you need that money to pay expenses?

I have read the same “stuff” on the internet that you just read, and I can tell you that our worst critic out there has never USED our software to fully understand what it does. Consider this …

1. I come from 10 years of experience in the mortgage business, so I understand these financial concepts

2. I graduated from the University of Illinois with an Electrical Engineering degree, so I understand and appreciate the logic. Before I offered this product to my clients, I studied the software to make sure it worked. I can tell you that YOU WILL NOT get the same results.

3. United First Financial spent 2 years and $2.5 million in research and development of this product. Mathematical engineers from GE Aeronautics were contracted to write the software code and create the complex math algorithms that analyze the most important factors in paying debt down. You will only understand this when you watch the presentation CD.

4. NBC News in Las Vegas reviewed our company, attempting to uncover a scam, only to report that the software was worth every penny. Watch it on my website at http://www.MoneyMergeVideo.com

5. One of the largest accounting firms in the world, Ernst & Young, awarded the co-founders of United First Financial the 2008 Ernst & Young Entrepreneur of the Year Award in the Utah region in the financial services industry.

6. We are so confident that our software works as it should, that we GUARANTEE our results with a written guarantee when you sign up.

Zak, you are an intelligent man. All I ask of you, before you make your final decision, is to take the time and watch the presentation CD I am mailing to you. I am convinced that by attempting to do this by yourself will cost you much more than the $3500 initial investment into the program.

When I bought my home, I took it upon myself to build my own brick paver patio. I bought an instruction magazine at Home Depot and read up on it before starting. The magazine said I could do it in 2 weekends, so I decided to take on the project. What I learned was that it actually took me 3 months (the entire summer) to build. I moved 22 tons of gravel, sand, and brick pavers ALL BY MYSELF. When the project was done, it wasn’t perfect, because some of my cut in the brick weren’t accurate, and the patio was not level. But, it looked acceptable. One year later, there were parts of the patio that were beginning to sink into the ground and weeds began to grow between the bricks. The sand behind the retaining wall started to wash out every time it rained. It got so bad, that in the second year, I ultimately had to call a landscape professional to fix it. The lesson of the story is that I ended up spending more time AND money by doing it myself. I later realized that I should’ve hired a pro to begin with.

Please call me when you are done watching the presentation, as I am sure you will see the huge advantage of using our software system.

Sincerely,

Makes me wonder if that is an auto generated e-mail the reps just plug my name into or if its a template reply, its crazy long.

Ya i totally agree. I was reading pros and cons on the whole thing for awhile while considering this. Since my situation wasn’t a 2nd mortgage LOC but a personal line. I had a friend at work that has a friend that works this stuff; been doing it for years. Saying how good it is etc. So i was considering it due to “trust” of my friends character or whatever. However when that price tag was $3500 i was like what?!

I have owned Microsoft Money and now I have Quicken and i was thinking its the same thing if not similar so why the huge price? That’s when i started to google a lot more articles which i should have done sooner but regardless im not doing it now so its all good.

Any Google search for anything remotely like “money merge account” or “united first financial” will cause most browsers to sound air raid sirens with big flashing red lights. UFirst and their agents hate Google with a passion, because they can’t control the message like they can in a presentation. They need to get you 1-on-1 before you hit Google, otherwise they’ve lost the sale.