1. Your Existing Primary mortgage
The existing mortgage on your home is the foundation for the Money Merge Account System. The system will work with all types of 1st mortgages to include but not limited to; pay option arm, neg-am, negative amortized, interest only, fixed rate, 10 year fixed, 20 year fixed, 30 year fixed, 40 year fixed, 1 month LIBOR, 1/1 ARM, 3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM, 2/28, 3/27, 5/25 and even sub-prime.
2. Advanced Line Of Credit (ALOC)
The Money Merge Account Program uses an ALOC or Advanced Line Of Credit as the primary and necessary vehicle to drive the program. The Advanced 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. The Advanced Line Of Credit can be an existing LOC or Line Of Credit or you may secure a new ALOC. Other forms of ALOC's include personal lines of credit, business lines of credit, Home Equity lines of credit and starting April 2, 2008 credit cards.
3. Money Merge Account System
The online Money Merge Account system 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 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 algorithms in the proprietary Money Merge Account system are systematically programmed to create the highest interest savings possible in the least amount of time. Your mortgages combined with the Money Merge Account system, creates a formula in which the money in your line of credit account generates an interest cancellation on your primary mortgage.
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