PLEASE NOTE: this process is often referred to as the ‘money merge’ process, because you ‘merge’ your funds into one account. JUST LIKE YOU WOULD WITH A REGULAR CHECKING ACCOUNT — you deposit your income — write checks (take out funds) to pay your expenses (examples: mortgage, car payment, electric bill, etc.) — exactly what you usually do.
THE DIFFERENCE IS — you use an OPEN END ACCOUNT instead of a regular checking account. At the beginning of this video I do a brief explanation of the difference between a CLOSED END LOAN (example: a mortgage) and an OPEN END LOAN (examples: credit card, home equity line of credit — or HELOC).
Using this MONEY MERGE system — it is possible to pay off a 30 year mortgage in 15 to 19 years — thereby SAVING THOUSANDS and even HUNDREDS OF THOUSANDS of dollars, depending on the amount of your mortgage.
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