“Interest cancellation” – MMA claims that by loading up the HELOC and running our paychecks through the HELOC, we reduce the balance so much that we save lots of money that way, and that alone is worth $3500. OK, so how much can we save? Well, let’s assume our mortgage rate is 6%. That means each month, we are charged 1/2% on our mortgage balance, the whole balance. But if we are using interest cancellation, the most that we can save is whatever our monthly salary is. So, if we bring home $5,000, the largest HELOC balance we can offset is $5,000. How much will that save? $5,000 times 1/2% is $25. That’s $25 per month or $300 per year. So MMA wants you to spend $3500 upfront to save $300 per year. Do you know how much interest you would save if you just put $3500 towards your 6% mortgage? OVER $16,000 and 16 months. (Not $4000 as I said in a different post)

“Factorial math” – MMA claims no one except a computer can figure out the best possible way to pay all your bills and debts because of all the possible combinations. LIES. There is only one SIMPLE BEST way to pay off all your debts. You pay off the highest interest debt first and work your way down using a DEBT SNOWBALL. It only needs addition and subtraction.

This is a public apology for my private rant. I do love the Lord and do want to be obedient to His word. I was hurt when I was, in my initial estimation, unjustly and publicly mocked in regards to my walk with God.

So, that being said. I want to honor you and the work you are doing. We, my family and I, on this side of the blog, will lift you and your family to God with our prayers.

Be Blessed!

Jim

Thanks,
Jim

IXOYE

Funny – you ask why “taxpayer”. My family asks “why Joe?” When I started posting on financial topics it just occurred to me to be a catchy name, the question for me was whether the Joe remain separated by a space. I usually write it as one word JoeTaxpayer. Or sign posts just Joe. (Of course this is a variant of Joe Sixpack, or the concept of the “average Joe”. Nothing more or less than that.

The whole problem, I think, is the various mortgage interest payment reduction programs promoter use a lot of hype to market their deal. I just don’t want people to throw out the baby with the water. The hype doesn’t diminish the facts – the math works. When the 401K was introduced, people thought is was a scam.

No sales pitch here. Just try it. See for your self.

BTW, I was wondering… Is there a difference between the word “taxpayer” and “tax payer”? I noticed the use of the word in your screen name.

If I have scales over my eyes, pray that I would have eyes to see and ears to hear.

May you be richly blessed

Back to MMA – Since the product is a scam, sold to people who are ignorant of finance, I suspect that when you ask WWJD, the answer is “He wouldn’t appreciate those who scam while using His name.” I’m afraid your post is not reverent, but appears to be blasphemy.

Have a nice day!
Joe

There are those who say “You have to use it to understand it” and I agree. Most of the praises come from company agents. That isn’t in and of itself a bad thing. I believe, as a Christian – debt is a burden we needn’t be carrying. There is an alternative to expending money on something you’re not sure of. And why risk another disappointment if it’s not what I expected.

Why not try a program for a week for free… You can. You can test drive it. Try it before you buy it. Personally, I like that idea because so many of us just have a hard time wrapping our minds around the whole concept anyway. I did.

The money merge, mortgage checking account or whatever it’s called by the marketers, generally performs well. All that is really needed is that you make more than you spend. That’s just common sense. We need to be wise as serpents and harmless as doves. We need to stewards of our resources. Debt will destroy our testimony to a lost world. We have the power to be the head and not the tail because… Greater is He that is within us.

Let’s remember, we are in the world and not of the world. The world says debt is OK. Not God’s word. Why don’t we look into the tools that are available and us them to helps us, help our families and our communities get out of debt!

Amen in Jesus’ name.

Jim

What all these detractors fail to understand is how much faster the acceleration process works when you leverage money in chunks to advance the amortization schedule. Just paying smaller amounts monthly works but much slower and not as well. Why? Because the principle portion of the minimum payment each month is also greatly accelerated by leveraging money in chunks which enhance the process greatly. Example: A recent of client of mine started MMA three months ago and so far has saved $37,000 of interest charges, 51 mortgage payments that would total another $75,000 of mortgage payment dollars saved. There 29 year mortgage is going to be paid off in less than 11 years at present income and expense numbers. How do you accelerate a mortgage with an example like this by just adding money willy nilly from you regular cash flow each month. Answer is you don’t.

Also, some people have good intentions about pre-paying on a mortgage but no one and I mean no one empties their check book out every month to pay on the mortgage. First they need money for unforeseen expenses and they have no way of getting money back for emergencies from the closed-ended first mortgage. MMA is designed to function to optimize all cash-flow always making sure there is an emergency fund to access for unforeseen expense.

In other words, MMA allows. I say again, it allows people to do things they would not do unless they learned how to reposition and direct money strategically like MMA prompts them to do. YOU HAVE TO ACTUALLY BE ON MMA TO UNDERSTAND HOW AND WHY IT WORKS.

People like Ramsey give good advise but have not done their homework. I felt the sameway he did for several weeks and did not embrace the product until I finally saw it. It is all good.