I found this interesting description of the deception involved in selling the United First Financial program to unsuspecting consumers for $3,500:
These programs are sold *very* aggressively in the US as part of a multi-level marketing scheme by people who do not really understand what they are selling, but are highly motivated by a $1400 commission for each customer they reel in. Part of the pitch is nonsense, part of it is deception:
Deception: While is it true that salary will gain a couple of dollars of interest each month as mentioned above, UFF would have the potential customer believe it is thousands a year. They do not say this, they just imply it. And it is wrong.
Nonsense: There is no magic math that the MMA has invented or discovered. Early repayment simply requires that the a mortgage holder apply more of their paycheck to the mortgage.
Deep Deception: The UFF program wants the customer to believe that the advertised quick mortgage pay-off happens from salary interest, and is inherent to buying the program, when in fact it happens when a bigger part of the salary is sent to the mortgage. This is why UFF always asks what the customer’s discretionary income is. The program assumes *all* discretionary income goes to the mortgage.
Tell the UFF program there is no discretionary salary, and *poof*, the early mortgage payoff is gone. It is because of these deceptions that UFF is called a scam on this board.
Odd, that’s exactly what I’ve been saying about the program over the last week.