Zillow Advice: Mortgage Types - What about a Mortgage Acceleration Loan like they have in Australia and UK? http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ Zillow Advice | Zillow Real Estate ...which made it un-American...Thumbs ... http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ <em>...which made it un-American...<br/><br/></em>Thumbs up to that! You are sooooo right with what you say Hamp! Wed, 16 Sep 2009 01:29:00 GMT http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ 2009-09-16T01:29:00Z I don't want to be misconstrued ... http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ I don't want to be misconstrued as endorsing a hokey "accelerator". (Because my endorsement is sooooo valuable.) <br/><br/>The product I was referring to was just a purchase money first equity line, that was compounded differently than normal HELOCs, and slightly more flexible. (This was many brain cells ago so details are long gone.) This product was not high LTV per se, which made it un-American. Not an accelerator refi magic <a href="http://www.zillow.com/mortgage/">loan</a>. <br/><br/>I was pitched the hokey things repeatedly, and found them lacking, particularly for the typical American house boom mindset.<br/><br/>Macquarie is an Australian bank that did Australian style purchase money products. Wed, 16 Sep 2009 01:26:00 GMT http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ 2009-09-16T01:26:00Z Now THAT should be posted ... http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ <p>Now THAT should be posted on&nbsp;every one of those ads as a disclaimer no one has to read.</p> Wed, 16 Sep 2009 01:07:00 GMT http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ 2009-09-16T01:07:00Z &nbsp;You called Mr. ... http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ <img uploadtype="new" imagetype="8" imageid="X1-IA14aa477vhtvo1_infpn" src="http://images3.zillow.com/is/image/i0/i1/i6083/IS14aa477vgfb8j.jpg?op_sharpen=1&amp;qlt=90&amp;"/>&nbsp;You called Mr. Branch? Wed, 16 Sep 2009 00:49:00 GMT http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ 2009-09-16T00:49:00Z Anything that advertises ... http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ Anything that advertises pay off your <a href="http://www.zillow.com/mortgage/">mortgage</a> in half the time with no change in spending habit is <strong>BS, no matter how much lipstick they put on that pig.</strong> Wed, 16 Sep 2009 00:45:00 GMT http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ 2009-09-16T00:45:00Z Robert,A product like this ... http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ <p>Robert,<br/><br/>A product like this is what Mrs. Carr was referring to. <a href="http://www.homeownershipaccelerator.com/" rel="nofollow">http://www.homeownershipaccelerator.com/</a><br/><br/>All,<br/><br/>CMG is reintroducing this product after dropping it about a year ago when HELOCs went south. There were about four lenders offering a similar product in addition to several firms offering a software product for this purpose<br/><br/>As Hamp said, for the right person this is a great product.&nbsp;The right person must have good cash flow with an adequate amount of funds leftover after all monthly expense. Plus,be super disciplined!</p> Wed, 16 Sep 2009 00:12:00 GMT http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ 2009-09-16T00:12:00Z Macquarie Mortage USA used ... http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ Macquarie Mortage USA used to originate this kind of <a href="http://www.zillow.com/mortgage/">loan</a> in the US. They stopped in early 08. I don't think they ever really caught on, even though they are a great product for the right person. They only work with larger down payments than the US market was accustomed to making in 2005.<br/><br/>Robert Benham was talking about MMA, a different thing, based on a similar principle. Tue, 15 Sep 2009 23:57:00 GMT http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ 2009-09-15T23:57:00Z From what I know about this, ... http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ From what I know about this, it's not a "Lender" program. It's a 3rd party debt payment system. My Uncle tried to sell me on this gimmick. Basically you take all your expendable cash (like for going out to dinner, buying new cloth's, having a drink or two, etc.) and use that money to pay down your mortgage.<br/><br/>They actually charge about $3000 for this program/info!!! They sell you&nbsp;a fancy looking database with a bunch of bells and whistles. They tell you, "you pay ONLY $3000 but you save $200,000 in term savings."<br/><br/>There is no voodoo magic to pay down your home faster. The more you apply to your principle balance, the faster you own your home. Tue, 15 Sep 2009 22:34:00 GMT http://www.zillow.com/advice-thread/What-about-a-Mortgage-Acceleration-Loan-like-they-have-in-Australia-and-UK/279179/ 2009-09-15T22:34:00Z