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Does anyone know about the company, 9 Year Mortgage? They claim that with their sophisticated method of debt reduction strategies, you can pay off your mortgage in less than ten years.
However, you have to talk with one of their "analysts" to see if the program will work for you.
Anybody heard of this company?

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

The Nine Year Mortgage plan seems to be one business scheme out of NUMEROUS schemes coming out of Utah. I asked for the CD. However, It appears to be the same sort of plan as John Commuta's "Cascading Debt into Wealth". It is a plan that involves turning debt around by paying off the smallest debt first, then each debt you have, one by one, from the smallest to the greatest, until all debts are eliminated.

These sorts of programs start with someone from the staff "coaching" the client by have the client record all personal debts. Then the coach has the client record all income, expenses, and assets to determine the clients total wealth value.

The next step, is that the client will stop any recurring expenses that he/she feels not necessary, and apply that expense, instead, to paying off the first small debt of choice.

Of course, this method will only work, when one first creates an emergency fund. Otherwise, if an E-fund is not in place, then the next time the car breaks down, or the basement floods because the washer broke and the insurance co refused to pay, well, the client goes right back into credit again, to pay damages.

The "coach" gives the client all of these steps. The big turn off is that this strategy is not a mystery. Anyone who has half a will can do it, provided the Emergency Fund is not missed, and one faithfully stays away from using credit.

The real mystery, is that because the "system" works, these "coaches" feel that their service is worth THOUSANDS OF DOLLARS for a weekly check up phone call. And if you don't have these thousands of dollars, they WILL take CREDIT!

I would stay away from these types of services. Instead, I recommend a service that is bound by ethical standards like that of the ECFA (Evangelical Council for Financial Accountability).

Moneymanagement.org is a non-profit, and is accredited by the ECFA.

Like | Dislike | Share | Posted: Sat, 03/16/2013 - 07:22 | Post subject:

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