|♦ REFRESH to rotate MAAMAW'S CLICKY NOTES thru this space..... Timely Tips, Best of the Boards & More ♦|
|PROTECT YOURSELF FROM SCAMS! Research all business opportunities thoroughly, and never blow off other people's bad experiences. Ask around (and listen!). The Scams101 Message Board is a good place to start. What's that? You've found a Biz Op and you're wondering if it's endorsed by FIB?... Not unless it's listed in MaaMaw's Magnificent Toolbox.|
FIB - Scams 101
It's a sweep account (Re: $3500 for software to pay extra on your mortgage?)
Posted By: Mel. White In Response To: $3500 for software to pay extra on your mortgage? (Bill, the Roadie)
Date: Monday, July 9, 2007, at 12:56 p.m.(pst)
In Response To: $3500 for software to pay extra on your mortgage? (Bill, the Roadie)
>> Color me skeptical.
Actually, I was a little skeptical of it when I read the financial analysis. Many banks offer them, though I haven't yet figured out why these guys want $3500 for it. I've seen it discussed elsewhere, and if you're living on the margin, a sweep account is not the best idea.
>> Ummmm, no. I also don't understand why it has to be sold with so many
>> layers of parasites all wanting their cut of the sales price without doing
>> any work.
I couldn't figure out where these thousands of people are, since there's less than 300 mentions of it online. And Accelerated Equity seems to be in competiton with the resellers of this. In fact, I'm not sure where that $3500 goes. There's something I've seen that says you can use the software for $170... so what's the rest of the money for? Setting up the account?
And if it's for setting up the account, then where in the heck does the "downline" get all the money from?
>> Sounds like a few hours (max) work with an Excel macro could
>> accomplish the same magic. I might be wrong. Convince me. Or not, it's
>> really nothing I'd be interested in.
You can. Just set up a mortgage and budget account on an Excel spreadsheet. At the end of the month (before your new paycheck comes in), send whatever's there to the mortgage company.
>> A professional financial planner, presented with a client who was
>> "spending every penny they made", who would sell them a product
>> for $3500 to let them pay extra on their mortgage every month in hopes of
>> a long-term payoff that might never come, should lose their license. Just
>> my opinion.
I did try to check that angle out and came up a blank. Couldn't find any planners promoting the product. Didn't google for planners and sweep accounts, but having used financial planners, I'm not sure they'd really recommend that for someone in serious financial trouble.
And as one blogger said, folks with that kind of financial problem don't usually have a significant amount of extra dollars to put down. I couldn't see sending the mortgage company $25 at the end of the month.
Messages In This Thread
FIB - Scams 101 is maintained by Lesley Fountain with WebBBS 5.12.
| PLEASE READ THIS LEGAL NOTICE CAREFULLY BEFORE YOU FILE A LAWSUIT OR EVEN WASTE TIME THINKING ABOUT IT. It has been done before, but never successfully. In fact, the last dodobird who tried it ended up being ordered to pay more than $77,000 in attorney fees ($65,000+ to my attorneys and $12,000+ to my co-defendant's legal advisor).
If your attorney is worth his salt, he's going to tell you that the expense of filing a lawsuit you can't win is a whole lot worse than any "damages" resulting from messages posted on this insignificant little chunk of cyberspace.
NEWS FLASH: I didn't just climb down off that ol' turnip truck yesterday. I'm well aware that expressing a negative opinion, relating one's personal experience, and restating provable facts are all legal in this country and do not constitute libel, slander, or defamation -- so you don't want to play games with me, and you sure don't want to start something you aren't prepared to finish. I don't take threats lightly, and I don't accept bribes (or did you call it a "mutually-beneficial arrangement"?). I'll turn you in faster than you can yell, "ARREST ME, I'M SCUM!!"
Do yourself a favor and turn your legal team loose in greener pastures.
Although we may, from time to time, monitor or review discussions, postings and the like on the Friends In Business (Scams 101) Message Board, we are under no obligation to do so. We are not responsible or liable for any claim arising from the content of any such discussions or postings or for any error, defamation, libel, slander, omission, falsehood, obscenity, pornography, profanity, danger, or inaccuracy contained in any information contained within such locations on the Site.
You are prohibited from posting or transmitting any unlawful, threatening, libelous, defamatory, obscene, scandalous, inflammatory, pornographic, or profane materials or any material that could constitute or encourage conduct that would be considered a criminal offense, give rise to civil liability, or otherwise violate any law. You are likewise prohibited from posting any false claims against any company or individual. We will fully cooperate with any law enforcement authorities or court order requesting or directing us to disclose the identity of anyone posting any such information or materials.
By posting messages and/or content on the Friends In Business (Scams 101) Message Board, you give permission for Lesley Fountain/Friends In Business/Shoestring Success Publications to display, distribute and use the posting and content for publication, advertising, promotion, excerption or example. You grant Lesley Fountain/Friends In Business/Shoestring Success Publications complete, perpetual, but non-exclusive rights to use, archive, reproduce, adapt, modify, distribute, sub-license, repurpose, rework, compile, or offer for sale or resale the messages, postings or content appearing on this site in whole or in part, throughout the world and universe, on a royalty-free basis without remuneration. If you cannot accept or agree with the terms of service for this website and discussion board, you are advised not to post on this board.
In closing, I would like to remind you once again that it is still legal, in this great country of ours, to express a PERSONAL OPINION, as long as it is presented as opinion and not as fact.
And finally, all you scammers out there will do well to remember that TRUTH IS AN ABSOLUTE DEFENSE against charges of libel, defamation, and slander... so if you're operating just a hop, skip, and jump ahead of the law, you might want to think twice before doing anything stupid... (AND SHAME ON YOU!!).