Do You Qualify For the Money Merge Account Program?

30-Year Mortgage

Because 30-year mortgages charge so much interest over the life of the loan, particularly during the early years of the loan, these loans are ideal to benefit from the Money Merge Account program.

15-Year Mortgage

15-year mortgages aren't as bad as 30-year loans but they also charge a lot of interest over the life of the loan. If you have one of these loans you should consider using the Money Merge Account program to save thousands of dollars in interest costs over the life of your loan.

Interest Only Mortgage

Interest-Only Mortgages have become pretty popular in recent years, particularly in markets where there has been significant value appreciation. However, these loans are not designed to pay of a dime of the principle. You can pay on these loans for years and you will still owe just as much as the day you signed the loan documents. If you have this type of mortgage you should definitely take advantage of the Money Merge Account program to eliminate the debt on your home.

Negative Amortization Loans

Recently, many people have opted to get mortgage loans that have the potential of actually increasing the principle owed on their mortgage if they don't pay enough to keep the principle going down. This has happened all too often for people who have seen the interest rates go up month after month and who have not had the income to keep up with these increases. The Money Merge Account program can get things back on track for people with this type of loan.

Pay Option ARMs

Pay Option Adjustable Rate Mortgages are another type of loan that have the potential of actually increasing the principle owed on a mortgage. This has happened all too often for people who have seen the interest rates go up month after month and who have not had the income to keep up with these increases. Pay Option ARMs allow borrowers to pay minimum payments that don't even cover the repayment of interest due on the loan. This causes the principle to actually go up on these loans. The Money Merge Account program can get things back on track for people with this type of loan.

Generally, you will need at least $10,000 in equity in your home to make the Money Merge Account program work optimally. And ideally you should have reasonably good credit.