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FIB - Scams 101
Re: Uhmmm.... I take it you don't own any GPSes?
Posted By: Dale King In Response To: Re: Uhmmm.... I take it you don't own any GPSes? (Gary)
Date: Thursday, February 14, 2008, at 5:26 p.m.(pst)
In Response To: Re: Uhmmm.... I take it you don't own any GPSes? (Gary)
>> Can I add something here? If this is so simple, would someone please
>> tell me right here, right now, how to do it for free so I don't have to
>> spend $3500? I'm a simple guy with a $155K 1st (with 27 years to go) and a
>> $20K 2nd and about $15K in credit debt. I have been offered by my credit
>> union a HELOC to pay off the 2nd and all the debt (including the $3500
>> cost of this software), after which I will be able to pay my 1st (and
>> HELOC) off in 10.5 years, simply by using the HELOC as my checking account
>> and depositing my monthly income of around $4000 into it. And the
>> software, which I DID see in action, will clue me in as to when to make
>> extra principal payments on my mortgage.
>> Now I use a lot of expensive software on my computer (have you
>> purchased MS Office lately?) and $3500 is a little steep but if it works I
>> won't worry about it. My only concern is the push to have me become an
>> agent, which I have no desire to do, but it isn't a "must" as
>> other MLM schemes are.
>> SO - if all you financial gurus out there say that anyone can do this
>> with little knowledge of the market, why not just post your methods up
>> here and blow UFF out of the water? I'd love to do this for free - I
>> already have the approval of several banks for both conventional equity
>> and HELOC loans, and I have excellent credit, so I can walk into any bank
>> and get a loan. C'mon, guys...give us the secret and save us that $3500.
>> Or does the software work?
>> This should be a no-brainer.
>> -= Gary =-
I talked over the concept of accelerating mortgage pay-off with my advisor at Va. Asset Mng't. in Richmond and he agrees that the concept of the money merge account, or current account as the Brits call it, is a legitimate financial strategy. The caveat is that it won't work for people with no financial discipline. His other concern was with the ethics of the companies selling the products. I was curious myself why UFF chose the Independent Agent approach to move this product. However, when I worked for American Income Life in Houston, the hierarchy was basically the same. You started as an agent, with a certain number of sales you became a senior agent with the privilege of bringing in agents and getting an over-ride on their sales. Senior agents could advance on performance to branch managers, etc... The advantage for the company seems to be that their "employees" are 1099'd so, no unions, benefits, payroll taxes.... It appears UFF is just taking advantage of that form of doing business. Anyway, before I bought into this program, I went to a half dozen or so financial and/or scam web sites and reviewed hundreds of posts with the pros and cons of it. After a week, the one thing I noticed was that nobody that was using the program was complaining about it. I sell the #1 rated product in it's automotive category with a 92% satisfaction rating and there are ALWAYS detractors on line.
Messages In This Thread
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