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Kaitlin
Guest
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 Posted: Mon Nov 26, 2007 12:45 pm Post subject: Anyone Heard of this? |
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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? |
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 uptightmortgageguy
Joined: 25 Nov 2007
Posts: 21
Location: WV
8.00 Dollars($)
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| Posted: Mon Nov 26, 2007 12:49 pm Post subject: Yeah I have heard of it. |
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It is some type of system where they make the payment on the note using some type of algorithm to reduce the principle balance. You buy software or something like that. I don't know if it's a scam but I really hate their pitch.
_________________
A slightly irritable loan officer in the trenches offering advice on all types of mortgage issues.
http://uptightmortgageguy.blogspot.com |
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larry
Joined: 27 Jun 2007
Posts: 3328
474.49 Dollars($)
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| Posted: Tue Nov 27, 2007 12:40 am Post subject: |
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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 |
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sagarthakar
Joined: 15 May 2007
Posts: 71
27.05 Dollars($)
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| Posted: Tue Nov 27, 2007 2:38 am Post subject: reply |
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| sounds interesting ...... dont know if its approved by government |
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evolovik26
Community Experts
Joined: 15 Aug 2007
Posts: 538
Location: Minneapolis
28.93 Dollars($)
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| Posted: Tue Nov 27, 2007 9:00 am Post subject: |
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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.
_________________
Eugene Volovik
Home Loan Consultant
Countrywide
612-481-3127
Conventional, FHA and Commercial Lending in 48 states |
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