Home Mortgage Accelerator


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  • Has anyone ever heard or used this program. A couple of years ago a real estate investor told me about it and said he was doing it but I didn’t understand what he was talking about.

    You can find out about it at rumortgagefree.com. I still don’t understand exactly how it works, but if it does work, I want to tell my daughter about it. If anyone is willing to take a look at in to see if its a scam I would appreciate it.

    Thx in advance

    Jean

    Jean:

    I went to rumortgagefree.com. It does not seem to be a scam. I would look very close at the documentation needed. Items such as withdrawal fees, interest rate charged, fixed or variable rate, close out fees, and default provisions.

    If you were to pursue this I would be very interested in looking over the documentation for such a loan. Let me know, I would glad to review it.

    Don Wede

    Thx Don. I appreciate your offer. I will ask them for all that info so you can look it over.

    Jean

    Hi Don

    I was looking over the FAQ’s and don’t understand this answer–it is near the bottom and says “so you do pay off in 30 years”. I thought it was supposed to be paid off sooner.

    5. How do I make payments?

    Every time you make a direct deposit of your payroll, or add funds from another account,

    you?re in effect making a payment. Then at the end of each monthly statement period, we add

    a charge for interest based on your daily principal balance. This charge is simply added to

    your principal balance. You actually only owe interest-only for the first 10 years; after that

    you?ll be in the ?repayment period?, where your credit line starts to decrease regularly (1/240

    per month) so that you do pay off in 30 years, and you?ll need to be making progress against

    both principal and interest during that period.

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