Frequently Asked Questions
- What Happens to My Tax Break?
- My Income Changes From Month to Month - Will It Work For Me?
- Why Can't I Just Make Extra Principal Payments Each Month?
As you are probably already aware, you receive a deduction for interest paid on your mortgage. You will still be paying interest on your mortgage, it will just be paid off sooner. This may decrease the amount of your deduction. You may be decreasing your deduction, but you will be potentially saving thousands of dollars in interest. Consult your tax accountant about all tax related questions. Remember, you may also be able to deduct the interest paid on your Home Equity Line of Credit.
Yes! The program allows for adjustments to your income. It will take those adjustments and recalculate your new interest savings and the amount that you should pay toward principal.
Simply put, the mathematics behind the Money Merge Account present a sophisticated process that has a substantial financial benefit over increasing your monthly payments. The algorithms in the proprietary Money Merge Account system are systematically programmed to create the highest interest savings possible in the least amount of time. The math engines programmed in the Money Merge Account system calculate the specific timing and dollar amounts required to produce the most optimum savings on each individual mortgage and overall financial situation.