Q. How does your program work?
A. Our program uses proprietary, comprehensive debt analysis software to create a personalized debt management plan that eliminates your debt up to 75% faster, allowing you to invest in your future, instead of your bank’s future. And then we do the work for you with an automated bill-pay system, that follows the plan we created to achieve your savings. And our program is flexible enough to handle those changes in life that always seem to come up when you least expect them.
Q. What are the benefits to my client?
A. They get out of debt up to 75% faster than they would otherwise. They are able to invest much, much more in their retirement or other investments, for a more secure future. They often see a steady and dramatic improvement in their credit rating. They have less stress and more peace of mind, as they know their finances are under control, and someone else (that they can trust) is doing the work for them, saving them time and energy. More benefits below.
Q. What are the benefits to my business?
A. Increased revenue and increased referrals to start with. You are able to offer your clients a program that works with or without any type of mortgage loan program. You can earn a commission on our program now, even if you have a client that can’t currently qualify for a loan, and put them into the position to qualify for a loan later. You have an ethical program to offer your client that really works, and saves them from tens to (often) hundreds of thousands of dollars. Imagine how much easier it will be to build a referral partner network with a program like this to offer their clients. And since we are not a lending product, we are not covered by RESPA, which means you can pay out referral fees.
Q. How does your program help me to qualify my client for a loan later, that they can’t qualify for today?
A. As your clients go through our program, they are becoming easier to qualify borrowers for their next mortgage transaction. As the revolving debt is being paid down, your client’s fico and debt to income ratio are improving. As we all know, an improved fico and D.T.I. improve your lender’s pricing hits to your rate, helping your client to save money and you to make money. You may have additional pricing improvements over time on your LTV if you’re client is paying down their mortgage. You may be able to take a client that could previously only qualify as stated income and move them to a full-doc status, as their borrowing character changes. Likewise, you may be able to take a client with debt and use our program to address the debt, saving their valuable equity, and going rate and term, as opposed to cash out.
Q. How much equity does my client need, to qualify for the plan?
A. The amount of equity in your client’s home has no bearing on qualifying for our program. In fact, you can use our program to build your client’s equity. Or to rebuild the equity they’ve spent on previous cash out refinance or negative amortization (Option-ARM) loans. When you think about it, your client will be able to build equity even when the market is moving against them.
Q. Does my client need a HELOC?
A. No, our program does not require a HELOC to work. Your client does not need to add a 2nd mortgage to their debt to save money. Unlike other programs that require a HELOC and may not do much more than capture discretionary income, ours does not require an additional mortgage to save your client from tens to hundreds of thousands of dollars.
Q. Does my client need a new 1st mortgage?
A. No, but you can use a refinance to create a strategy to meet a need for your client, without using up all of their equity like your competition will want to propose to them in a cash-out refi. It’s a standard strategy to use a cash-out refi to trade out more expensive compounded interest rate debt (credit card debt) for simple interest mortgage debt, to free up some cash for debt payment, or to ease cash flow. And as you’ve seen in the past, most clients will pay off all of their debts , then rack their credit cards back up a year or two later. And that’s still the M.O. of many of our competitors. But YOU can use a much smaller amount of the available equity to accomplish the client’s goals and put them on track with our program. Compare that to your competition, who are going to suck up your client’s equity to pay off debt and not give the client a plan to do anything else but fail and rack up their cards again, and potentially lose their home if they don’t have enough equity to bail themselves out next time.
Q. Does the program hurt my client’s credit?
A. No, as their debt is paid down, especially the revolving debt, their fico score can improve dramatically, which leads to many benefits for the client, in addition to future lending. Employers, insurance companies, and many others are using credit scoring to determine potential employment, insurance rates, and other areas of great importance in their lives.
Q. What credit score does my client need to qualify?
A. We don’t qualify by credit or equity. It’s all about cash flow and “makes sense” numbers. We want to help everyone we can to get into the program.
Q. How does my client know their money is safe?
A. Our bill pay transfers are handled by one of the largest funds transfer company in the world, Metavante. The company is over 150 years old and employs over 5,600 people. They also handle the funds transfers for some of the largest banks in the country. There is a very good chance you have already used them, simply due to your choice of banking. How long have you been around? What is your track record? Our program is in it’s 10th year and we have served over 16,000 clients to date. Other companies have come and gone. We’re here to stay.
Q. How do I get started?
A. Contact us and we’ll help you get started today.