Anyone Heard of this?

Guest 0.10 Dollars($)

Has anyone heard of an ALOC Money Merge Account from United First Financial in UT. A friend sent me some information about this program which sounds a bit like a scam. They claim you are able to pay off your mortgage in as little as a third the time by using some sort advanced line of credit that is attached to you mortgage. I dont completely understand it, but as I said sounds like a scam.

Anyone know anything about it?

uptightmortgageguy · Posted: Mon Nov 26, 2007 12:49 pm Post subject: Yeah I have heard of it.

It is some type of system where they make the payment on the note using some type of algorithm to reduce the principle balance. You buy software or something like that. I don't know if it's a scam but I really hate their pitch.

larry · Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)

Hi Kaitlin,

Welcome to this forum.

ALOC Money Merge Account from United First Financial is some kind of a web-based software program that claims to reduce rapidly the principal of the mortgage and also reduce the interest on the loan. But not sure whether it is really helpful or not.

Thanks,
Larry

sagarthakar · Joined: 15 May 2007 Posts: 71 26.83 Dollars($)

sounds interesting ...... dont know if its approved by government

evolovik26 · Posted: Tue Nov 27, 2007 9:00 am Post subject:

Its a program for money management. Anyone can do it on their own they just dont. Is it worth it? For people who are irresponcible but wanting to change yes. For people that dont know how to manage their money sometimes. Everybody else - maybee. However id say a good financial planner may be better.

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