Money Merge Account Review – the Truth About the Money Merge Account

Over the past several years homeowners are facing the reality that their mortgage really is their biggest debt. With home values shooting up, homeowners have tapped into this equity to facilitate a more appealing lifestyle, ignoring what this will do to their financial position in the long run. Now with lenders closing shop left and right, mortgage originators dropping like flies and “creative” loan programs beginning to rear their ugly heads, there will be more demand to find solutions to foreclosures.

One of the programs that are beginning to surface is the concept of the Money Merge Account. The concept behind this plan is not new, and involves paying extra money to principal to cancel interest. Many homeowners do this now to a certain extent. With the bi-weekly payment plan a homeowner pay’s two ½ payments each month. With this they can expect to pay one extra mortgage payment per year.

In order to build equity more rapidly, you must have a lender that will immediately apply each 1/2 monthly payment upon receipt. If the lender waits until the second payment has been received before crediting the loan, you won’t see the benefits. When worked properly, this is a decent plan and is effective in reducing your amortization schedule. One of the downsides of this is that there is no built-in plan to come up with the extra money.

Another method to paying off mortgage and other debt is the debt roll-down. The idea here is to set aside a certain amount for debt repayment and continue to maintain the total monthly amount you pay in debt reduction even after the first debt is paid off. You would then target each debt you have in the order of highest interest rate. This is effective, requires a lot of discipline but does not employ the concept of interest arbitrage, or interest cancellation.

The Money Merge Account is neither a bi-weekly or debt roll down. With the Money Merge Account, the homeowner would set up a specific type of HELOC (Home Equity Line Of Credit) that would be open-ended. In this case the interest would be charged on the average daily balance rather than month-end principal balance and would act as a primary checking account allowing monies to be deposited and withdrawn using checks, debit or transfers. Rather than using a standard checking or savings account where your money sits, waiting to be spent and doing nothing for you; you would use the functionality of the HELOC to compress the principal balance in which the interest is calculated (on an average daily balance).

Taking into consideration the structure and interest rates of the HELOC and the first mortgage, your income and expenses; the Money Merge Account software would prompt you periodically to make extra payments to your first mortgage. This prompt would be a specific dollar amount, to the penny and applied on a specific date as to maximize interest cancellation. Once the payment is made, the balance owed on the HELOC would go up, you would then deposit your paycheck back into the HELOC driving the average daily balance and interest charges back down canceling interest until it’s time to pay expenses again.

By using this method, you are using a portion of your discretionary income which includes the offset interest from the HELOC. The extra payments to your first mortgage would not necessarily be applied every month; it would depend on your particular cash flow situation. With this method, the average homeowner will pay off their home in as little to ½ to 1/3 the time.

So with the cooling real estate market and ever increasing demand for solutions to mortgage debt, many ideas will emerge, as necessity is truly the mother of invention. Whereas the concept of interest cancellation is not new, the systematic approach of the Money Merge Account software definitely is and worth a second look as a viable option.

I hope you have found this article informative and interesting. Feel free to contact me if you have questions.

-Greg Campbell

Federal Reserve to Old Southern Bank: Raise new capital or merge with another bank.

Federal Reserve to Old Southern Bank: Raise new capital or merge with another bank.
Federal bank regulators slapped a new order Thursday on Old Southern Bank, giving the Orlando community bank 30 days to come up with fresh capital or face further action.

Read more on Orlando Sentinel

Federal College Loan Consolidation – Merge Within the Grace Period

When it comes to federal consolidation loan consolidation programs, many student borrowers must know that there are certain deadlines, most of the time difficult and stressful, imposed on it. It is unlike the normal private and federal student loans, in which you can apply for them anytime if you want. But with the consolidation of government student loans, you have to make some important considerations. First of all, it should be noted that ideally, federal college loan consolidation programs should be obtained by the student borrowers during the grace period. During this time, the much lower loan interest rates will be applied. This will help in estimating the average fixed interest rate in order to consolidate federal student loans. Availability of low rates is one benefit that student borrowers get when merging loans during the prescribed grace period. However, if you decide on deferring consolidation and apply for merging on your federal loans after the grace period, higher interest rates will then be used in arriving at the rate to be used for the loan consolidation programs. Therefore it is only advisable that one merges his college loans within the prescribed grace period in order to avail of the much lower fixed rates of interest for his student loan consolidation and obtain corresponding low monthly payments.    If you are indeed decided in consolidating your college loans, even if such loans are already being repaid, merging them is definitely allowed and will be financially beneficial to you. This is why when you apply for college loan consolidation programs within the grace period the interest rates on your federal loans are fixed while the rates are still in a low level. For more federal student loan consolidation as well as student loan refinancing articles, do visit our Easy College Loan Consolidation blog.

Does anyone have information on the Money Merge Account. It is supposed to help you pay off…?

…your mortgage early.
Your mortgage balance can only be impacted/reduced only once per month. Therefore, if you have a 30 year fixed rate mortgage at 6% you will pay 6% per year every year until the end of the 30 year term. Interest on these loans are front end loaded as well. Conversely, if you borrow from a home equity line you can make payments every week if you so choose and drive down the outstanding balance of that loan weekly. As you drive down that balance, the bank must reduce the amount of interest it charges you thus yielding a much lower rate than the stated rate charged.

how to merge my share of income from huf withmy income from my individual capacity business?????

I have got 2 incomes from two different sources. One is income of Rs 2.5/- lakhs from a business of my individual capacity. Another is an income of Rs one lakh from huf. I am the karta of this huf. This income of Rs one lakh is my share from this huf.both of these incomes are tax paid incomes i.e. net incomes.i have filed these two income tax returns separately.now should i show my share of income from huf in my individual income statement.i.e. should i write in balance sheet that my total net income is rs. 3.5 lakhs,rs.2.5 lac from a business of mine from my individual capacity and rs.1lakh from huf ?can a member or coparcener of huf spend, lend or gift his or her share of profit independly?can the profit share of the members of the huf be written in the income statement of their businesses from personnel capacity? i am willing to show my income like this to the banks also.thus i can become eligible for a bigger loans.should i do like this or not ?what does the i.t .law say?will banks consider my total income rs.3.5 lakhs or will they not consider my share of rs. 1 lakh from huf and consider my income rs. 2.5 lakhs only?please do suggest me in details

Money Merge Accounts: Scam or legit?

I have heard recently about Loan Accelerator programs and MMA’s. I cannot find many independent reviews on this program. I am looking for anyone who can suggest this or not and prove the math on it. Thank you in advance.

Debt Consolidation Loan: Merge Debts and Ease Repayment

<p>Debt consolidation loans can be classified as essentially of two types: secured and unsecured. Secured debt consolidation loans will require a collateral or security. Usually this means your home will have to be kept as security with the lender and in the event, that you are unable to repay the loan amount, the lender shall have the ownership rights to your property. And he can sell off the property to recover the loan amount. This is the reason that lenders prefer to give secured loans because of security against non-repayment.

Having considered the lender’s point of view, secured debt consolidation loan bring many advantages for the borrowers also. First of all, the rate of interest can be the minimum possible if the borrower has a perfect credit record. The terms and conditions of repayment of such loans are flexible such as the repayment period can be long and extend upto more than 20 years. Because of these two factors, monthly instalments get reduced to the borrower’s convenience.

Unsecured debt consolidation loan does not require a collateral. The lender, is obviously at risk in this case. However, non-repayment of the loan amount can attract a ‘charging order’ from the court. But the risk still remains for the lender. It is because of this that the terms and conditions of unsecured loans is not-as-flexible. The rate of interest is almost higher and often higher for those with bad credit rating. The repayment period may be short and thus the monthly instalments will be high. The one advantage is that these loans, apart from being risk-free for the borrower, are faster as far as disbursement is concerned. This is so because there is no property evaluation and so less paper-work.

The major advantages of debt consolidation loans are: a reduced rate of interest, and a single transaction of repayment rather than several. These are reasons good enough to go for them and to improve on your credit card report.

Consolidation Loans: Merge your Outstanding Amount Into One Manageable Loan

The loan market provides funding solutions for almost every situation. This article tries to clarify some of the salient points of a consolidation loan.

In a world where every four out of ten people are facing financial crunches, debt problems have become a dilemma that is threatening the British economy. Consolidation loans are fast becoming an effective debt management tool for the UK residents.

Consolidation loans can be segregated into secured or unsecured consolidation loans, as well as bad credit consolidation loans. Instead of paying a number of creditors, consolidation loans roll all the outstanding payments into one convenient loan. Therefore, the borrower only has to pay the lender a monthly instalment and the lender in turn takes care to pay the other creditors.

In case you have a bad credit history, then also you can avail a consolidation loan. Before applying for a loan, it is important to check your credit score. In case of discrepancies, consumers can approach credit bureaus, such as Equifax and Experian. The table below illustrates the credit ratings:

Poor credit score- 350-619

Fair credit score- 620-659

Good credit score- 660-749

Excellent credit score- 750-850

Your credit ratings determine your interest rate. If the debtor declares bankruptcy, creditors will not be able to recover any money. Thus, Consolidation loans works in everyone’s favour. This loan type is allotted low interest rates for fast disposal of debt. But consumers with adverse credit ratings may have to pay more interest than others.

If you are above 18 years of age and can afford to pledge collateral against your property, then you can apply for secured consolidation loan. The presence of collateral reduces the risk factor for the lender. You can bargain with the financial provider for competitive interest rates. Before signing on the final agreement, do a market research of your loan product. Find out the going annual percentage rates (APRs). The fierce competition among the lenders has resulted in fringe benefits like repayment holidays and no prepayment penalties.