Money Merge Common Questions

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Q. What is the Money Merge Account?
A. The Money Merge Account is an online account system that incorporates your checking and savings accounts with an advanced line of credit, or ALOC. Through this program, homeowners have the ability to pay off their 30-year mortgage in as little as one-third of the time, without refinancing their existing mortgage loan or increasing minimum monthly payments.

Q. Why can’t I make extra principal payments to my primary mortgage and achieve the same results?
A. Simply put, the mathematics behind MMA present a sophisticated process that has a substantial financial benefit over increasing your monthly payments. The algorithms in the proprietary MMA system are systematically programmed to create the highest interest savings possible in the least amount of time. The math engines programmed in the MMA system calculate the specific timing and dollar amounts required to produce the most optimum savings possible.

Q. Does it make sense to move my savings accounts over to MMA?
A. Yes, in moving your savings into your MMA account, you decrease even further the amount of time left to pay off your mortgage. Your customized online site has the ability to build a variety of financial models to help you understand the effect that the money in your savings account will have in decreasing the amount of time it will take you to pay off your mortgage.

Q. Do I make monthly payments on my line of credit?
A. Not in the traditional sense. You will use your line of credit similar to your primary checking account. Your paychecks will be applied to your line of credit and your monthly bills will be paid from the account. By transfering your income each pay period the line of credit lender will credit the monthly payment requirement and lower your daily average balance, thus reducing interest charges.

Q. If I am not increasing the monthly payments on my mortgage, how can this program be possible?
A. The MMA system makes a connection between your bank account, the advanced line of credit and your primary mortgage. Each time you transfer income into your account it registers as a decrease to your mortgage balance. By decreasing your mortgage balance you now lower the balance in which interest accrues. By decreasing the balance in which interest accrues, you increase the portion of your monthly payment which is credited toward your principal pay down. The MMA system determines the specific timing and amounts for each transfer required to produce the quickest pay off time and highest interest savings possible. There are also multiple financial options programmed into the MMA software which assist homewoners in paying down their mortgage as soon as possible.

Q. Why am I applying for a line of credit, and how is it associated with my savings and checking accounts?
A. The MMA Program uses the equity line of credit solely as a vehicle or a tool to drive the program. The MMA system is coordinated through systems created Ellion Financial and works completely independent of the lender. The equity line of credit must have the capacity to operate similar to a primary checking account and be set up with an open-end interest calculation vs. a closed-end interest calculation. Combined with the MMA web-based system, this creates a formula in which the money in your line of credit account generates an interest cancellation on your primary mortgage.

Q. Do I have to change banks?
A. It is not necessary to change banks. After signing up for the program, we have a customer support team that will assist you in orchestrating your banking needs with your MMA program.

Q. Do you make payments for me?
A. No. We do not have any access to your accounts. You will be initiating all transactions by following the prompting of your online MMA account. You will be in complete control.

Q. Do you have access to or control of my money?
A. No. You are the only person with access to your accounts.

Q. Do I pay interest on the equity line of credit?
A. There is interest charged on the line of credit. But because your income is sent to your line of credit on different intervals, the bank adjusts the amount of interest they can charge you by offsetting the average loan balance. As a result the interest charged is much less.

Q. Why don’t the banks offer this program?
A. The MMA utilizes banking principles that are accepted by most banks across the nation. The MMA program simply provides you with the necessary tools to use your money to reduce interest, instead of the bank using your money to earn interest. This is the primary reason the banks do not offer the MMA program.

Q. Can I contact any of your client references to hear about their experiences with MMA?
A. Due to privacy regulations, we are unable to provide personal contact information for references. However, you can view actual clients using the MMA program on our MMA informational DVD and you are welcome to research our company through the Better Business Bureau web site at

Q. What happens if I sell my home?
A. The MMA program follows your mortgage until it is paid off. The line of credit the MMA uses will have no effect on your ability to sell your home. Once you have sold your home and purchased another residence, we can put MMA back into action on the new residence. Also, all the equity built in the account, as well as the equity built with market appreciation, will make a great down payment on the next purchase.
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Q. Is there any risk involved?
A. From a financial standpoint, there is very little risk. No stock market crash or extreme interest fluctuation can completely eradicate the expected outcome. Only homeowners that qualify to significantly reduce their mortgage payoff time and interest will be activated on the MMA program.

Q. Can anybody qualify for the MMA?
A. It is important to go through a quick 5-minute questionnaire when applying for the MMA program. Fortunately, there are several avenues that can be taken to gain approval, but the MMA program is not for everybody.

Q. Do I have to refinance my existing mortgage loan to make this work?
A. No. It is not necessary to refinance your existing mortgage loan. You may choose to refinance your mortgage for additional interest savings but refinancing your existig mortgage loan is not required for the MMA to work. If you do not currently have a specific line of credit one will need to be opened.

Q. Will MMA work with an interest only/Neg-Am payment on my primary mortgage?
A. Yes. In fact, MMA helps you to take control of the outcome of these types of loans to benefit you substantially.

Q. Can I own multiple investment properties at one time and utilize just one MMA program, or do I need one for each property?
A. The MMA is most effective when used to payoff one property at a time. As each property is paid off, your overall discretionary income can increase; creating an accelerated payoff period for each subsequent property.

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