From: "Ashley" 
Newsgroups: alt.org.natl-assn-mortgage-brokers
Subject: Re: Equity Acceleration
Date: Wed, 20 Jun 2007 20:47:15 GMT
Bytes: 5756

Yes, it's true that the equity accelerator loans require a very high credit 
score.

Do you have to refinance or are you choosing to do that. Why not take a look
at what the Money Merge Account from United First Financial can do for you
without your having to refinance your primary mortgage.

Please contact me, and I would be happy to provide you with an analysis 
which
will tell you exactly when you could be Free and Clear.



"Regal53"  wrote in message 
news:SJydnX-q-bUPu-7bnZ2dnUVZ_qCmnZ2d@comcast.com...
>I tried to refi my home loan with the home equity accelerator loan and was 
>turned down because I had 736 midscore...
> "Jeff Strickland"  wrote in message 
> news:A3uUh.1737$BS2.1720@trndny01...
>>
>> "Ashley"  wrote in message 
>> news:vDsUh.910$Qp.207@trnddc07...
>>> We do not originate mortgages. We show the property owner how to satisfy 
>>> them - sooner.
>>>
>>> Our web based system enables people to accelerate the rate at which they 
>>> accumulate equity in their properties. We show them how to force changes 
>>> to the amortization schedule and cancel future interest by aggressively 
>>> paying down the principal while using the bank's money and not their 
>>> own. We have customers who are on schedule to pay off 30 year notes in 
>>> as little as 8 years or less. They do it on current income, without 
>>> making additional out of pocket principal payments, without refinancing, 
>>> and without making changes to lifestyle or cash flow.
>>>
>>> If you would like to learn more about this smart system, please respond 
>>> and I will show you how it works.
>>>
>>>
>>
>> Well, you are lying. One can not pay off a loan early without either 
>> refinancing to a different loan program -- hence you must originate 
>> loans --  or the existing loan must have greater amounts sent in as extra 
>> principle payments.
>>
>> My question to you is, IF mortgage interest is a deductable expense on 
>> income taxes AND one has the income with which to pay a mortgage off 
>> early, then wouldn't that sort of person need as many deductions as they 
>> could find?
>>
>> The high dollar people that I know of obtain Interest Only Mortgages that 
>> let them pay mortgage interest for years, and write off 100% of the 
>> payments they make.
>>
>>
>>
>> PS
>> To those that are interested, the program being offered here is a 1st 
>> Trust Deed that is a HELOC, and requires your paycheck to be deposited 
>> through automatic deposits. The FICO score that is required is either a 
>> 720 or 740 -- I forget which. What happens is that your pay is deposited 
>> and this pulls down the average daily balance from the date of deposit. 
>> You pay your bills with HELOC checks, that slowly drive the principle 
>> balance up again, but your next payroll check pulls the balance down 
>> again and the process starts again. The idea is that if you are a 
>> paycheck person and have a high FICO, then you can use the power of your 
>> deposits that exceed expenses to reduce mortgage principle much faster. 
>> The affect is that your residual income -- income after expenses -- earns 
>> interest at the effectivej interest rate of your home mortgage.
>>
>> It is a very good product for the right borrower. Very good. Over time 
>> you will have much greater equity in your property than you would 
>> otherwise have. Since your mortgage is essentially a home equity line of 
>> credit (HELOC), then you have immediate access to upwards of 90% of any 
>> equity you might have, and no new qualifying to pull out the cash you 
>> want. Let's say you collect cars, and are driving through the wine 
>> country one afternoon and see a fabulous '67 Mustang for sale. You can 
>> pull to the side of the road and simply write the check and take the car 
>> home. Cool, huh? Another thing that happens under the program is that 
>> your daily living expenses -- stuff you pay for with the HELOC checks, 
>> like grocweries and utility bills -- get transferred to mortgage 
>> interest, and they become a tax deduction. Any thing you buy with a HELOC 
>> check is repaid through the mortgage, and any interest paid that way is a 
>> deduction.
>>
>> There is a a downside to the product, but since it requires a high FICO 
>> and good income, the people that would be affected by the downside are 
>> disqualified from the program.
>>
>> It's a good program, and you should contact the OP for details. But do 
>> not be fooled by her promises to not write a new loan, or pay stuff off 
>> without spending a dime.
>>
>>
>>
>
>
>