cphansen (April 17, 2008 at 1:34 pm)

LOL - I get a "thumb down" for pointing out that someone who is trying to sell you a $3500 software package with a Magic Mortgage Algorithm (hey! another MMA!), can't even calculate interest.Not surprisingly, all it takes to become a UFF agent is $175, watch the online tutorials, and write an online test. It's easier than getting your driver's license. And these people want you to pay a lot of money so they can tell you how to pay for your largest purchase in your lifetime. No thanks.

cphansen (April 3, 2008 at 7:24 pm)

Two things: First, you forget that the HELOC starts off with $3500 balance for the UFF fee. Second, interest on the HELOC is calculated at month's end by average daily balance, so you can indeed add about $50 to the HELOC balance in that first month, as you start with a $5000 balance, spend $4K, and receive $5K (not even counting interest on the $3500 fee).The UFirst system slightly less effective than simply prepaying your mortgage principal with leftover income, and the fee makes it worse.