What is a Money Merge Account?
The Money Merge Account consists of three major componets:
1. Your Existing Primary Mortgage
The existing mortgage on your home is the foundation for the Money Merge Account
2. An Advanced Line Of Credit (ALOC same thing as a 2nd position Home Equity Line Of Credit)
The MMA Program uses an advanced equity line of credit as a vehicle or a tool to drive the program.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 rather that a closed-end interest calculation. Combined with the MMA web-based software this creates a formula in which the money in your line of credit account generates an interest cancellation on your primary mortgage.
3. MMA Software
The online MMA software makes a connection between your bank account, the advanced line of credit and your primary mortgage. Each time you deposit income into your account it registers as a decrease to your mortgage balance. By decreasing the balance in which interest accures, you increase the portion of your monthly payment which is credited toward your principle pay down. The algorithms in the proprietary MMA system are systematically programmed to create the highest interest savings possible in the least amount of time.
Myron Golden recommends MMA. This program works well with commercial as well as residential property. If you're a Real Estate Investor you must have this program working for you.
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