Originally Posted by TOGA

Fosters -

I'm sorry you're feeling "fishy". I did, too. The reason we feel fishy when we first hear about MMAs is because the banks have us so well trained to believe that there's no way to 'game' their system. Well, there is . . . and this is it. There's nothing fishy about this, it's just math. You're not relying on some tax loophole or sketchy financial arrangement. No one but you ever has access to any of your accounts & you don't have to do a re-fi. You will almost definitely never see anything about this in any of the mainstream financial media outlets . . . mortgage lenders stand to lose hundreds of millions of your interest dollars as this catches on. This has only been in the U.S. for about two years, but banks in Australia and Europe have been selling similar financing packages for decades. The MMA is simply a work-around, since U.S. banks don't offer anything like this. Why would they when immediate suspicion is our response to simple math that could save us so much?! We are that well trained by the establishment.
As for why the numbers would vary, I'm not sure . . . did the other person you spoke to use exactly the same numbers you provided to me? Did she use an MMA, or one of those 'el cheapo' packages from a box at an electronics store? What about the assumptions I had to make? The MMA numbers are guaranteed . . . if I provide you with an MMA analysis, everything you told me is true, you follow the prompts the MMA provides, and you don't do at least as well as projected, you get your money back . . . yes, we put that in writing. In fact, most clients do 15% - 25% better than their initial analysis because it's specifically designed to provide a conservative estimate . . . 'under-promise, over-deliver, thrive on the referrals'. As for DIY . . . that sounds like a good idea 'til you actually try to put a plan of action together. Would you know exactly how much to overpay your mortgage and when to maximize your interest saved? How many months or years of trial and error would it take to figure out the specifics? How many hours would you spend in front of a spreadsheet? Having gone DIY, how many multiples of $3500 would you have cost yourself, as compared to a 'plug & play' MMA with 24/7 customer service, budget forecasting, free updates and action prompts that keep you on track to save the most? Not to mention the fact that you don't simply pay $3500 cash for an MMA, it just goes on the HELOC, and that's where the system starts . . . it will have paid for itself several times over within a few months. As you can see, I'm new to this board . . . I didn't realize that there's no PM function. Please email me at [email protected] . . . I promise I won't block your IP!