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united first financial?

cannoncrawler

cannoncrawler

TWERNT THE MORMONS!!!!!!
Location
Idaho
I am sucked into a conference call/webinar for this company. Its to make my sister happy. :D apparantly its a way to pay down the mortgage faster. I did a little searching online, but anyone have the details on this or more info I should have.
 
Brad J

Brad J

Registered User
Location
Woods Cross, UT
My inlaws are agents w/ them. I have been using their program for almost two years. I have not been able to use it like your supposed to due to medical bills and just trying to survive. I could pay off my mortgage in less than 10 years if I could stick to the program. It looks like it would require me to pay an extra $11k a year to get it payed off in that amount of time. Its a flexible program that you can move at your own pace. The program uses a Home Equity Account that you pay down and their software program will tell you when and how much $ to transfer to your Mortgage as principle. I just haven't made it to that point yet. Like Brett said you can contact Bone Down. My inlaws (Tim & Carol Hansen) can also answer any questions for you at their office # is 800-207-3142. I'm still not really sure how it all works but hope to benefit from it when we can get ahead.
 
Greg

Greg

I run a tight ship... wreck
Admin
Location
Grand Junction, CO
I don't care for the UFF or their Money Merge Account at all... the fee for their software program varies, depending who you talk to ($3000-5000... why is the price not always the same? And since when did ANY commonly used software program cost $5k?) Any you're encouraged to borrow that fee out of your new home equity line, the one you're going to use to pay off your home in 7.2 years, :rolleyes: . That doesn't sound logical to me.

To make it work you'd have to be very tight with managing your money, something 90% of people aren't good at. IMO, with the MMA there's a good chance you end up worse off then before because you'll have access to this line of equity which could be very tempting to spend. If you aren't good at managing your spending habits, you end up with much more debt than before and your home still isn't paid off.

I have had a couple friends/family members push it on me, but none of them have been actual real estate finance professionals. They have been people looking to make a quick buck, people who cannot explain exactally how the program works.... they just tell you that a similar program has been used in Australia & Europe for years. Oh... and a NASA engineer came up with it their software program. :ugh: They also tell you about the 40 people that tested the program in Denver... I'd love to hear a follow-up of that test group, if they have paid off their homes by now or not. For some reason I have never heard how things actually turned out for that test group.

The idea has the potential to be a good thing if used correctly, but the high-priced software, potential for massive financial damage, poor distribution methods (sounds like a pyramid scheme) & sales people who know nothing about financing and are working on a commission really turns me off & scares me.

Just remember the saying, 'If it sounds too good to be true, it probably is.' ;)
 
Spork

Spork

Tin Foil Hat Equipped
Location
Saratoga Springs, UT
I think this is the program my neighbor up the street is doing. It doesn't make sense to me. I think he's managed to accrue more debt if that's what the program was designed to do... -_-
 
Caleb

Caleb

Well-Known Member
Location
Riverton
Greg said:
I don't care for the UFF or their Money Merge Account at all... the fee for their software program varies, depending who you talk to ($3000-5000... why is the price not always the same? And since when did ANY commonly used software program cost $5k?) Any you're encouraged to borrow that fee out of your new home equity line, the one you're going to use to pay off your home in 7.2 years, :rolleyes: . That doesn't sound logical to me.

To make it work you'd have to be very tight with managing your money, something 90% of people aren't good at. IMO, with the MMA there's a good chance you end up worse off then before because you'll have access to this line of equity which could be very tempting to spend. If you aren't good at managing your spending habits, you end up with much more debt than before and your home still isn't paid off.

I have had a couple friends/family members push it on me, but none of them have been actual real estate finance professionals. They have been people looking to make a quick buck, people who cannot explain exactally how the program works.... they just tell you that a similar program has been used in Australia & Europe for years. Oh... and a NASA engineer came up with it their software program. :ugh: They also tell you about the 40 people that tested the program in Denver... I'd love to hear a follow-up of that test group, if they have paid off their homes by now or not. For some reason I have never heard how things actually turned out for that test group.

The idea has the potential to be a good thing if used correctly, but the high-priced software, potential for massive financial damage, poor distribution methods (sounds like a pyramid scheme) & sales people who know nothing about financing and are working on a commission really turns me off & scares me.

Just remember the saying, 'If it sounds too good to be true, it probably is.' ;)
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Well said. IMO, anything that tells you to borrow against your house is not a good thing. Maybe if it was, save your pennies till you have $XXXX saved up, then do this with it, but any financial advice that tells you to go borrow money before you start is not good financial advice.
 
Brad J

Brad J

Registered User
Location
Woods Cross, UT
My new favorite radio program is The Dave Ramsey Show on 570 7-10pm. He is very vocal against every program out there. I wish I had heard of him years ago:-\
 
RockMonkey

RockMonkey

Suddenly Enthusiastic
Brad J said:
My new favorite radio program is The Dave Ramsey Show on 570 7-10pm. He is very vocal against every program out there. I wish I had heard of him years ago:-\
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He's also on XM Channel 165 from 1PM to 5PM weekdays. I think he's probably doing more good for people than any other talk radio show in the country. Definitely worth a listen no matter what your financial situation is. :)
 
cannoncrawler

cannoncrawler

TWERNT THE MORMONS!!!!!!
Location
Idaho
Greg, you seem to feel the same level of emotion towards these companies (MLM) as me. lol

My sister is always into some comapny trying to make her life work. (last month it was QUIXSTAR) ugh.

I feel the same way about the debt and the fact that if you can stick to this program, then you have the will power to just pay the stupid thing down on yer own.
 
Greg

Greg

I run a tight ship... wreck
Admin
Location
Grand Junction, CO
cannoncrawler said:
Greg, you seem to feel the same level of emotion towards these companies (MLM) as me. lol

My sister is always into some comapny trying to make her life work. (last month it was QUIXSTAR) ugh.

I feel the same way about the debt and the fact that if you can stick to this program, then you have the will power to just pay the stupid thing down on yer own.
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Yep, that stuff absolutely frustrates me. People who are desperate end up believing the BS, buying in & wasting money that they don't have to loose.
 
JackKeslerCustoms

JackKeslerCustoms

Active Member
Location
Herriman
I had a friend hit me up pretty hard for this. Theoretically it will work. Greg's overview is right on. One of the other major problems is sticking to the program. When you take the average person and link their HELOC to their checking account, instead of coming home from the Super Wal-mart with groceries, they will probably start bringing TV's, Digital Camera's, Ipod's Etc. Not a good Idea. But it does go to show that people will buy anything if it is marketed well.
 
I Lean

I Lean

Mbryson's hairdresser
Vendor
Location
Utah
Does it change your mind any to know that the guy who bought Kieth Barton's mansion for $7 Million is part of Quixtar? :eek:

Me neither, but it does prove that someone is making money off those scams.
 
Slangy

Slangy

Sgt. CulPepper
Location
Utah
Brad J said:
My new favorite radio program is The Dave Ramsey Show on 570 7-10pm. He is very vocal against every program out there. I wish I had heard of him years ago:-\
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I agree. A lot of these companies who say they are out to help you are actually just scamming your money. They are some pretty low people if you ask me. Taking advantage of less fortunate people to make you rich seems low budget. But that is just my opinion.
 
Caleb

Caleb

Well-Known Member
Location
Riverton
I Lean said:
Does it change your mind any to know that the guy who bought Kieth Barton's mansion for $7 Million is part of Quixtar? :eek:

Me neither, but it does prove that someone is making money off those scams.
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I personally don't think most of the established MLM programs are scams (Amway, Quixtar, NuSkin, etc) but I absolutely can not stand the way they do their thing. The reason MLMs are so popular in Utah, especially in Utah County, is the "social network" (ie, your LDS Ward/Stake, etc) that most people have access to. Every one of them tell you to go hit up all your "friends and family members" to get them on board.
 
cruiseroutfit

cruiseroutfit

Cruizah!
Moderator
Vendor
Location
Sandy, Ut
True story... the owner of Nu-Skin once said to me "not bad for a pyramid scheme eh?"... We were sitting in the hot tub on the top level of his amazing cabin in Kamas at the time. I don't know if he was messing around or for real, but I was shocked. They've had some other crazy schemes too... an internet business, internet phones, mabey others? As I recall NuSkin is the only survivor?
 
Caleb

Caleb

Well-Known Member
Location
Riverton
cruiseroutfit said:
True story... the owner of Nu-Skin once said to me "not bad for a pyramid scheme eh?"... We were sitting in the hot tub on the top level of his amazing cabin in Kamas at the time. I don't know if he was messing around or for real, but I was shocked. They've had some other crazy schemes too... an internet business, internet phones, mabey others? As I recall NuSkin is the only survivor?
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There's still a ton down in Utah Valley that are all part of or stemmed from NuSkin.
 
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