Money Merge Account Links
First, a link to The Simple Dollar’s blog post on MMA, which generated more comments than I’ve ever seen on one posting. (Careful, this can take some time to load)
Get Rich Slowly also had a discussion that generated much interest.
WiseBread also gave a review of MMA with a similar conclusion to the one I reached.
United First Financial, who created the MMA concept, offers a video to explain the approach.
For some interesting hyperbole Vision Force 21 is an agent selling MMA.
Mortgage Acceleration LLC also an agent for MMA.
Integra Mortgage and Investment has another series of links with MMA comments and observations.
MSNBC’s “What’s a ‘mortgage accelerator’?”
CNBC’s interview with author Rick Edelman
Clark Howard fields a question on MMA
Dave Ramsey’s reaction to MMA
Another Dave Ramsey conversation (transcript)
An article by ActiveRain
Travis Mitchell kindly offers a years’ example of MMA in action, and in response I offer my own money merge account spreadsheet. I would be happy to entertain any intelligent dialog on the numbers presented by the two of us.
The Age (an Australian site) has a great article, “Smoke and Mirrors“.
Kiplinger’s “Don’t Fall for This Mortgage Pitch”
(Please send a comment if you have more links to suggest or if you’d like a copy of my MMA spreadsheet. The sheet will let you see your own numbers, and will help you decide for yourself.)
JOE
April 12th, 2008 at 6:00 am
Please send me the spreadsheet you displayed amortizing the mortgage on MMA discussion. Very interesting, thank you!
Alan
May 5th, 2008 at 7:59 am
Please send me a copy of the spreadsheet you mentioned on Simple Dollar blog (comment 1217).Thanks.
May 8th, 2008 at 5:25 pm
Please send me the MMA spreadsheet, I’d like to see the numbers.
Thanks
May 13th, 2008 at 11:26 am
Please send me the MMA spreadsheet, I am thinking of buying the UFIRST product so please let me compare! Thanks for all your time.
June 3rd, 2008 at 7:14 pm
Please send me the MMA spreadsheet. I just received a UFirst MMA presentation at Panera. I read some of the comments at http://www.getrichslowly.org/blog/2007/10/01/is-a-money-merge-account-a-good-way-to-pay-off-your-mortgage.
I was suppose to meet the person trying to get me to buy the $3,500 software this Thursday. But, I thought I would do some research and also contact my financial adviser before meeting with him again. Any insight would be helpful.
I am pretty frugal and very financially disciplined. However, my expertise is not in finance, but in Network Engineering. As such, I must lean on other who are more educated in this area than I am, as others depend on me when they want large international networks. We all possess our own talents and this area is not one I possess, which is why I depend on a financial advisor, whom I haven’t talked to yet about this topic. I don’t want to be ignorant either, which is why I am researching now.
Thanks in advance.
(Sent. As an engineer, spreadsheets shouldn’t scare you, see the sheet, write if you have questions. -JOE)
June 13th, 2008 at 2:46 pm
Joe, I see your posting on this subject at several places. As you know we are in perfect agreement with your analysis. Thanks for the good work letting people know the truth about these mortgage products. As I predicted, because prime rate has gone down, making HELOC’s more attractive, the intensity of the folks selling these products has ratcheted up. When prime rate goes up with HELOC’s along for the ride people will start losing even more money from this product.
Would you mind sending me the spreadsheet?
June 27th, 2008 at 12:58 pm
Great comments. Please send me the MMA spreadsheet as well.
July 21st, 2008 at 8:36 pm
I’ve been looking into this whole MMA thing for a couple months now. I believe I can do it myself with a proper spreadsheet. I’d like to see if that’s true.
Please send me the MMA spreadsheet you developed. I MAY have to show it to a friend who recently bought into the MMA software a couple months ago…