Has anyone heard those ads lately? WHat is that all about? I keep hearing this on the radio about paying off your home in 2 or 3 years without consolidating debt etc etc ...

ANy L/O's out there that know what this is? Sounds gimmicky...

Two or three years? Does it involve going to Vegas?

It's called an MMA account aka Money Merge Account. Its more like 8 - 13 years depending on how much you make and what your mortgage payments are. Here's a pretty un-biased article that I found about it.

http://www.thesimpledollar.com/2007/03/0...home-borrowers/

Yes, I was only joking with the Vegas remark. I knew he was referring to this loan which is also marketed as the "Mortgage Accelerator", "Austrailian Home Loan" and other cute names.

It has been discussed ad nauseam on this and every other mortgage website. Beleive me, it's smoke and mirrors, the early payoff comes from throwing any disposable income at the mortgage, not from any real interest savings as the proponents of these programs purport. I don't want to take the time to type out a complete explanation so just take the word of the Mortgage Professor website who is about the most honest guy in the mortgage world. He says smoke and mirrors, enough said.

Yes it is called the money merge account. I put someone on it. I had to refi them though to free up some extra doe. They are actually going to pay off their mortgage in 6.2 years. 2-3 years w/o consolidating debt is ridiculous. Anyway, you can see how it works at http://www.paidoffmyhome.info