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FIB - Scams 101
NOT a scam... simply software that calculates math
Posted By: Sue Copening In Response To: Re: Accelerated Equity a.k.a. United First Financial (JimmyDaGeek)
Date: Thursday, October 25, 2007, at 1:59 p.m.(pst)
In Response To: Re: Accelerated Equity a.k.a. United First Financial (JimmyDaGeek)
>> This is utter BS. 6-11 years is the same as if they paid 1/12 of their
>> mortgage each month, or more. Show us an example.
Yes... but I said our program will do that even if they currently have ZERO dollars of discretionary income in their budget. You are talking about a bi-weekly mortgage which is really just sending in one extra payment a year so they would have to HAVE that extra money available to them to do that. If they have an extra payment on top of what our program will free up for them... we can do even better.
>> Oh yeah, not if I have a spreadsheet.
Your spreadsheet is only as good as the numbers you input. What if you are tired and leave out a variable, or if you did not program your spreadsheet correctly in the first place? If you feel that you never make a mistake... good for you. Most of us are not that arrogant and most of the general public has no idea how to design a spreadsheet program to automatically make custom calculations.
Also... any spreadsheet is never going to do the same job as the math algorithms in our software program. There is a reason those guys went to M.I.T.
>> Not true. This software is designed to minimize the length of your
>> mortgage, not the total amount of interest you pay. Show us an example.
WRONG... that is just silly-talk. It saves you BOTH interest and time on your mortgage. That is the most basic element of financial math.... principle multiplied by interest multiplied by TIME.
It is tragic that you do not even understand that financial basic.
Every client I have had so far has saved over $100,000 in interest on their mortgage and has knocked more than 10 years off their mortgage... some as much as 20 years. Now add the $100,000 in interest savings to the value they get by having 10-20 years where they are NOT making that mortgage payment... and can then invest it in something else... now you have people at the end of 30 years that are hundreds of thousands of dollars, sometimes as much as a half million, ahead of where they would have been if they had just kept doing things they way they were.
>> On average? Only if you have another 50% to 75% extra to put toward
>> your mortgage. Lets look at an example. $200k @ 6.5% for 30 years -
>> $1,264.14 payment. If you try a home-made 'biweekly' mortgage by dividing
>> the total mortgage payment (including escrow) by 12, you might pay $130
>> extra per month, paying off the mortgage in 277 months. Change that to
>> $250 and you reduce that to 239 months. At $500, the reduction is to 183
We can beat a bi-weekly plan of any kind.
I already said that the majority of savings is the clients discretionary income. We simply free up more that they did not know that they had... and the software optimizes their cash flow. Bi-weekly plans will knock off about 7 years. Most of my clients are paying off in 8 to 15 years.
>> If you have ever taken a certification test, you know that passing is
>> more about memorizing information for the test, rather than really
>> understanding the information. And besides, you will be tested on their
I agree... the test is a way to insure that agents read through the material necessary for them to learn how this works. There is no guarantee they will understand it fully. That is life. If you are looking a this program and you do not think your agent understands it fully... find someone who does.
>> Oh sure, mainly mortgage brokers and insurance salesman, that's a
>> comforting thought.
Your contempt is showing. I am sure I could say that most of our agents were priests that took a vow of poverty and you would have something cynical to say about them.
You invalidate all your comments and hurt your credibility when you demonstrate that you are not open-minded.
Messages In This Thread
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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!!).