A friend of mine has been selling these money merge accounts to people...and it amazes me that people pay for the opportunity to prepay their mortgage. I ran numbers for her, and showed her that if the people took the $3500 they are spending on the software and put that towards their mortgage...they could shave 19 months and almost $26000 off a $200k loan. I asked her why people pay for something like this...she said it's because people like to buy "systems". Wow. Why wouldn't people just prepay on their own?
Are people really falling for this Money Merge Account by United First Financial?
People like to think the software is somehow "magical". Plus they fall for the pitch that they don't have to change their spending habits. That is some friend that you have. Does she have any conscience whatsoever or does conning people just not bother her?
Reply:because some people are dumb and can be conned. Just like a bank that dings you a $30 monthly fee for bi-weekly mortgages.
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