I checked into your question regarding if the MMA is available in all states, and it is. In fact it is also available in most provinces in Canada! Regarding your question about legalities, as Independent Agents with UFirst we ONLY sell software, meaning we do not give loans or lines of credit. Our clients continue working with the banks that they are comfortable using.
I have gotten a few calls this morning about the MMA asking if this is a Multi-Level Marketing company (MLM). That is a great question too and comes up a lot. United First Financial is a Direct Marketing company and is not set up as a MLM. I would compare it more to an insurance agency and how they distribute commissions.
Hi George, I believe that this program is accepted in all states but will check into it further and get back to you.
The MMA is simply a new way of using your money for you instead of for the bank or mortgage company. It does not require altering your current mortgage or refinancing. It's based on using a line of credit, whether personal or HELOC, instead of using your traditional checking account. You deposit all of your money into the line of credit and pay all bills out of the line of credit. When your line of credit gets close to a zero balance (by depositing your paychecks into it and your discretionary income buying the balance down), the software tells you to pay a certain amount to your mortgage. So, your balance on your LOC goes up from your extra payment to your mortgage and paying your monthly bills, your paychecks/discretionary income pay the balance down, then you are instructed to make another extra payment to your mortgage, then the process starts all over again. It's all about interest cancellation and the effective interest rate on your LOC. It may sound confusing at first but the whole program and software is very simple once you catch on to the concept!
I recommend going to our UFirst agent website and watching the videos. They are very good. www.u1stfinancial.net/guardianhome You will quickly see how paying the extra amounts to your mortgage cancels out thousands of dollars in interest! I could go on and on about how great this program is and how it works! Call me or email me if you have any other questions, and I can go over everything one-on-one with you.
Like I said in the original post, I can set up a time to do a webinar for everyone to answer any questions and go through a presentation about it. It's very informational.
BTW, thanks for the nice compliments! I do work really hard on my business because I believe that this will be successful!! And, I truly believe that the MMA and HOme Inventory sold together will help everyone with their success!
This is a great idea. I am interested in learning more about the MMA.
I do have one question, Do you know if this is accepted in all states? Would it be legal for me to promote this MMA in my state or should I contact someone in the banking/real estate mortgage business in my state to find out?
I raise the question because I am aware that the banking laws vary from state to state. During a time when the real estate market is in a difficult downfall, I would want to be sure that it is accepted in my state before getting involved.
I will be asking my daughter about his because she is a realtor and she may have some information for me.
You've really put a lot of thought and effort into your business and it shows. Thanks for the input you share on so many topics.
George
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George A. Childs Owner
Quality Home Inventory Service, Inc. 24 Stockton Dr. New Castle, De. 19702
I have recently been introduced to a new product, have tried the product myself, and think that it will be a HUGE asset to any home inventory service. It is the Money Merge Account system and is a new way of paying off your mortgage in 1/2 to 1/3 of the time. We are on this system right now and will have our house paid off in 10 years! I truly LOVE this system and have a lot of faith in it. Some of you may be wondering how this could be a product for home inventory services...
Check out this page of my website to learn more about it. http://www.guardianhis.com/excitingproducts.html This product will help you get around the huge obstacle that we all face of people wanting your home inventory service but not having the money to pay for it. This product will also give you another GREAT stream of income, while growing your home inventory business. We have several prospects that loved the idea of doing the MMA and home inventory at the same time. We are so pumped about this, I think that this will truly help everyone in the success of their home inventory business!
If you are interested in learning more about this and how to offer this to your clients, e-mail me at kim@guardianhis.com. If enough people are interested, I will set up a time this week or next to do a webinar for everyone.
