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FIB - Scams 101
An open Challenge to the United First Financial
Posted By: Calvin
Date: Thursday, November 8, 2007, at 7:05 p.m.(pst)
I posted this as a reply buried in one of the threads to "Sue," who so adamantly believes that United First Financial's Money Merge Account product is a powerful mortgage accelerator tool. I thought I would openly extend this to any UFF agent who doesn't believe it is merely a glorified prepayment plan hidden in a HELOC float game that anyone can beat with absolute minimal effort....
I am one of those critics of the UFF scam-ware. I've argued against it on a few finance forums, and I will extend the same challenge to you that we've extended to EVERY salesperson out there... let's play "monopoly." Let's simulate this out in the open for everyone to see. We'll each have the same job, same income, same mortgage amount and terms, same bills, same due dates. I'll use the financial tools at my disposal, namely my brain, my checking account (warning: 6.01%, but heck, I'll play with 5%), and my billpay system. I WILL NOT USE A HELOC. You can use your HELOC (or ALOC or whatever you want to call it) and your fancy schmancy UFF program. We post our money movements for the months on this message board, and double check each other's math (which always seems to be needed with UFF salespeople). The only math needed is non-complicated interest calculations, so no software algorithms are exposed. Only rule I extend to you is that your HELOC must function as actual HELOCs function in the real world (read: interest based on average daily balance), and your rates must be typical of todays rates (HELOC rate > mortgage rate by about 1-2%). I'll even let you FIX the HELOC rate, despite them being variable in the real world.
At the end, we'll see who pays off their mortgage faster. I contend I can beat the UFF hands down without complicated algorithms or intermediate loans (the HELOC). Care to put your reputation where your mouth is and prove once and for all the true power of the MMA? I'm guessing no, for the same reason no other salesman takes it. Why? BECAUSE IT DOESN'T WORK AS WELL AS YOU CLAIM AND YOU KNOW IT. This won't take much time at all.
Messages In This Thread
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| 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.
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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!!).