Profile picture for Brent Harless

Brent Harless

Lender

Mortgage Broker (13 years experience)

Specialties:
Purchase Loan,
Refinancing,
Home Equity

Advice

  • (4 Contributions,
  • 0 Best Answers,
  • 0 Helpful)

Contributions are sorted newest to oldest.

Accelerator Loan Programs or Softwares

Response

I do not endorse the software programs.  The only one we promote is the CMG Home Ownership Accelerator.  The concept of the Home Ownership Accelerator is simple.  It has created a way for consumers to flow all of their monthly cashflow through their home loan instead of leaving to sit idle in a checking or savings account all the while giving them 24/7 access to their money.  Since all deposits go directly against principal every last penny that was not spent throughout the month went to principal.  The money that was spent throughout the month also saved interest because until it was needed it was leveraged against the balance keeping the daily balance lower, saving interest.  For me the best part about the program, besides the interest savings, is that everyting happens automatically.  I dont have to move money from here to there.

  (0)
Accelerator Loan Programs or Softwares

Response

Here are a few of articles from Jack Guttentag and Money Inman News 11/17/07 - "Analyzing CMG's early-mortgage-payoff program" Inman News 12/31/07 - "Payment flexibility depends on type of mortgage" Money Magazine

  (0)
Accelerator Loan Programs or Softwares

Response

Tom, I have been offering the HOA for over a year and have it for my own mortgage for over a year. The key thing to note on this program is that it is not for everyone. It is only for individuals with excellent credit, positive cash flow, and a sense of financial responsibility. I have turned away more individuals who wanted this program than we have closed. I would recommend that if you want numbers you should call your local CMG AE. You can then weigh the pros and cons of the program. I did this a year and a half ago and came to the conclusion that it is a legit tool for certain individuals. Last note, the Ufirst product is not competition. I compare it to a diet or new years resolution. It is hard to change people's behavior. Ufirst sells the concept as pixie dust rather than making borrowers prove the loan is right for them like CMG (the guidelines are borderline ridiculous right now).Regards,Brent

  (0)