VIEWS: 9 PAGES: 10 POSTED ON: 6/16/2012
Common Mistakes to Avoid… 1. Is TaxSavers Wealth Maker Pro Software for Everyone? No, our software is not for everyone. Although the software can be altered to fit the individual needs of most people, please remember that it is not for everyone. *You must make more Money than you spend 2. What if you have NO DEBTS? TaxSavers Wealth Maker Pro Software is set up to cancel interest and accelerate the mortgage or targeted debt. If a client has no debts or rents,/the program will still work with expenses throughout the month. Remember you can use the Software as a: Powerful Budgeting Tool An Investment Tracker Debt Roll Down feature allows you to target specific debts What If Expense Analyzer Over 99% of your financial information will change in the next 10 years. The software will be able to use these changes and calculate accordingly. 3. How accurate are “Quick Calculators”? “Quick Calculators” are used as teasers to quickly capture someone’s interest in our program. A quick calculator is not as accurate when compared to a full analysis. Do not compare results of the software to the “Quick Calculators” found on websites of other companies. 4. Do all competitors software programs use the same calculations? No. Different software programs have different calculating factors. Therefore, they produce different results. Just because one result might be better than the other result does not mean that it is working better than our software. Example: Some software companies have features that includes up to a 3% increase in income each year. A calculation ran with a 3% increase is definitely going to have better results than our software because of the increase in discretionary income each year. We DO NOT use assumed variables in our software. Some competitors, for example, do not factor taxes or insurance into the equation at all. This makes their calculations incorrect. In addition, our expertise in the area of taxation allows us to show you the tax consequences of your financial decisions as well. When factoring in federal, state, local, and city taxes, competitors results can be underestimated anywhere from 10-45% or more. We’ll show you what others cannot because we have the expertise to do so…in business since 1996…serving 1000’s of clients. 5. When does interest accrue on your line of credit? ALWAYS. Interest is calculated on a daily basis (on whatever the principle balance is). The software automatically calculates the daily interest and then adds it into the plan once a month on the first of every month. 6. When you make a “Lump Sum” principal payment to your mortgage, does it all get applied to the principal balance? YES & NO. Some banks will apply the payment straight to Principle. Some Banks will apply the payment to Interest first, then the remainder will go to Principle. Example: If Mike had a 5 year car loan for $10,000 and the interest rate was 10%. Mike would pay $2.74 per day in interest for the money borrowed. If Mike made his scheduled payment on November 1 stth and then made an additional lump sum principal payment on the 10 of that month. The bank would first apply $27.40 (10 days x $2.74 per day) of his payment to interest and then the bank would apply the rest of the payment to the principal balance. 7. Does the software work with multiple mortgages? Yes. To add another mortgage, simply add it as a new debt in the “Debts” section. Then priority rank which mortgage (debt) you would like the software to focus on. The primary mortgage is the focus of the software unless a debt is priority ranked higher than that mortgage. If a debt has been ranked higher than the mortgage, the software will counsel you to pay down any debts first and then it will help them take the necessary actions to pay off the primary mortgage. 8. What if I get paid twice a month? Not every other week… Simply create 2 incomes. Example: Income #1 paid on the 5th MONTHLY Income #2 paid on the 20th MONTHLY. 9. If I start the program in the middle of the month, what do I put as the mortgage balance? Simply input the statement balance from the previous month. When you reconcile at the end of the month be sure to update the information as accurately as possible according to the Monthly statement. 10. Where do I input the taxes and insurance(escrows) When the software asks what the mortgage payment is, it is asking for the total payment including principal, interest, taxes, and insurance. Not just principal and interest. If you are inputting another property make sure you add the escrow payments in as an Expense, separating Principle and Interest from Taxes and Insurance. 12. Once my 7 day trial period has expired, can their login and password be extended for another 7 days? No. For security reasons, our system will not permit it. FAQ’s Are the “Freedom From Debt” program and “TaxSavers Wealth Maker Pro” different programs? No they are not. Freedom From Debt is the generic name chosen by the partners in our investment group that built the software and designed it with us. TaxSavers Wealth Maker Pro adds additional tax related benefits and expertise along with the software…which only our firm can provide including proprietary implementation methods and software support. What is the Freedom From Debt program a.k.a TaxSavers Wealth Maker Pro? The program is a proprietary money management strategy and software package that teaches smart and efficient money management. These are the same strategies Fortune 500 companies use. The goal is the elimination of all debts, especially mortgage debt, in 1/3 the time. It is a complete package and we will personally teach you HOW it works and WHY it works. TaxSavers WealthMaker Pro acts as a road map that guides you towards eliminating ALL mortgage debt and using that equity to build a real estate portfolio. Is this a Bi-weekly mortgage plan? NO. This is not a bad way to pay your mortgage, and it does work, but there are issues. TaxSavers Wealth Maker Pro offers many more options and works MORE THAN twice as fast.With a bi-weekly, instead of making one mortgage payment ONCE per month, ½the payment is made every two weeks. The strategy is that over a 12 month period an additional payment, the 13th, is paid which generally reduces a 30 year loan by 6-7 years. The downside is, many lenders won't accept a partial payment and some companies will hold those funds until the balance is received without applying it. This destroys the advantage. Mortgage lenders that have your current loan may offer this program for a $300700 fee however if your loan gets sold by the lender which is completely out of your control you have wasted your money…and have to pay it again with the new lender. TaxSavers Wealth Maker Pro generally eliminates most mortgages in 7-9 years and all other debts shortly thereafter. Do I have to make additional payments each month? No and Yes. With TaxSavers Wealth Maker Pro, ALL income is driven towards your mortgage so that all money is applied towards the principal as quickly as possible. All expenses are paid from the line of credit as LATE as possible…(paying them on time of course) This allows your money to work for more effectively and reduces daily interest expenses. Does the program work with an existing "Interest Only" or "Option ARM" loan? YES. Does a third party control my money? NEVER. YOU have total control of all your money. The secure web based program is not connected to your accounts in any way. No software downloads are required and the program can be acceessed on any computer with a high speed Internet connection. Since I deposit all my income into my mortgage, how do I pay my bills? Your line of credit (or interest bearing account) will essentially replace your primary checking account. You will keep a minimal amount of money in your personal account and use your line of credit (or interest bearing account) for most of your bills. What if Interest rates on my line of credit are going up and is higher than my first loan, does TaxSavers Wealth Maker Pro still work? YES. Your HELOC interest rate can be up to 2.5 times HIGHER than the rate of your first loan and the program still works to your advantage. Does TaxSavers Wealth Maker Pro work if I have little or no equity? YES, but it takes a little longer to “get moving” depending upon positive cash flow. A low rate interest credit card can also be used as a line of credit as well. I have a second mortgage already… That’s OK. Our program now works with savings or other investment accounts Depending upon the size, what type it is, and your positive cash flow, it may be advisable to wrap them together in a new loan. We have exclusive lenders that know and understand our program. We’ll help. Just ask. NOTE: The interest rates on your loans is NOT as critical as you would think, and even if the new loan is HIGHER than the loan being paid off, with the program it usually STILL makes sense. If I have a pre-payment penalty is that a problem? Generally not. Most pre-pay penalties allow you to pay 20% of additional principal each year. If your cash flow is that great that you could EXCEED that, you either dial it down to stay within that 20% limit or just pay the penalty on the EXCESS over that amount. Even with the penalty it's still better financially to just pay down the mortgage as quick as possible. Prepayment penalties are extremely rare in Kansas. Does the Freedom From Debt program work if I’m self employed? YES, sometimes even better, since your income may come in more frequently, and even if you have months WITHOUT positive cash flow, that’s OK. Look at your ANNUAL Income over a 12 month period. As long as you MAKE more than you SPEND, the program will still work. Does this work if I have bad credit? YES, but it depends on the types of loans you have right now and if those credit issues could limit getting a line of credit or a low interest rate credit card if you do not have one. Does the program work if I’m living “paycheck to paycheck”? In theory yes, but the program is NOT a cure all for those with a negative or marginal positive cash flow. The program is fueled by excess income. As long as you make more than you spend, applied mathematics will work to your advantage. You mentioned using a credit card. Is this critical? NO. The credit card is an advanced technique that allows you to use your money to maximum efficiency. The program works with and without a credit card. How do I know that TaxSavers Wealth Maker Pro will work for me? If you have POSITIVE CASH FLOW, it's a mathematical certainty that the technology will work. It takes no time to learn the basics, but there are nuances that become more clear as you understand it better. You say that I'll pay off my house in 7-9 years, but I don't think I'll be here more than 5 years. Is it still worthwhile? Yes! Imagine that your loan balance was reduced by 50% in 5 years! You will have MUCH more equity than if you did things as "usual". That's why "hybrid loans", like 5 year ARMS, work so well. If you knew in 5 years your balance was reduced by half, would you care if that rate then became adjustable? (The answer is NO since your new PAYMENT would be based on the lower principal balance.) Does the program work with more than one property? Absolutely! Each property is targeted one at a time and we have clients with lots of properties. After each successive mortgage is paid off, you move on to the next. It's usually advisable to tackle RENTAL property first, eliminate the debt service, and maximize the cash flow. This is exponential and actually PICKS UP SPEED as you pay off successive rental properties. Does the program work in any state? YES. Texas is the only state that has restrictions on second mortgages and lines of credit, so there needs to be some modifications done. We will show you how that is done. You can use an Interest Bearing account or other investment account in the place of an Equity Line. What about mortgage companies that offer first mortgages that seem to do the some thing that this program does…like CMG. How are they different? Both those companies offer new LOANS, first mortgages with many of the characteristics of a line of credit. They allow direct deposits INTO the loan and check writing capabilities OUT of the loan. Our program works great with these types of loans if you already have one! I'm in Nevada and I was approached by a company named Tardus. Why is the Freedom From Debt program better? Because the Freedom From Debt program teaches the same methods for a MUCH lower price. Tardus costs nearly 8 times what the Freedom From Debt does. Can you "hold my hand" when I can't figure it out? Of course, but it's not as hard to implement as you may think. Usually after 30-60 days most of our clients have very few questions. We also have extensive personal assistance and a secure private web based conference room available for our program users. Why haven’t I heard of this before? The methodology actually came from overseas, and has been adapted over the years to the very un-consumer friendly mortgage industry in the United States. Mortgage Acceleration loans are actually very common in Australia, New Zealand, Great Britain, and other countries, so the GOAL of accelerating your mortgage and debts is not new. This concept was said to be originated by billionaire Richard Branson… “ Introduced by Richard Branson's The Virgin Group and purchased outright in 2001 by Royal Bank of Scotland, the account acts to combine a customer's balances - including mortgage, income, savings, loan and credit card - to simplify the customer's financial management.” The program has brought together the best of these techniques and we teach you to “ think like a bank” and not the way it’s “always been done”. These are not new ideas, just different, unconventional ways of looking at your money. A friend referred me to United 1st Financial. They set this up as a kind of MLM (multi level marketing) Plan. How do you differ? We are NOT MLM. MLM unfortunately perpetutates an environment where the cost of a product or service is more expensive than it needs to be so the profits can filter down to everyone in the network. It can also create an environment where someone not educated in finance, mortgages, and taxes may not know how to maximize the proper use of the program and is simply trying to sell you so that they can recover the cost of their program themselves. It is unwise to trust your financial well being to someone just trying to sell you something to make a buck without the proper financial expertise and experience. Next, the United 1st program sells for more than triple what TaxSavers Wealth Maker Pro does. Also, we offer many other benefits that they don't…including tax preparation, mortgage expertise, and much, much, more. Our software also has many features that theirs does not. Simply put, we offer WAY more for less than one third the price. It sounds too good to be true, so it must be a scam, right? Look at it this way : if I told you that if you paid on your 30-year mortgage for 22 years and you STILL owed ½ of what you borrowed, would you believe it? You should, because it’s true. With a 30-year loan it’s not until year 22 that the principal is reduced by half and MOST principal is paid in the last 7 years. This iswhat we’ve been taught as “normal”, but it’s not very smart nor financially sound. The program effectively takes that 30-year amortization chart and flips it around, making your money work for you, so you pay off most of your principal in the FIRST 7 years(or less), NOT THE LAST. Does it sound too good to be true? It probably does,but the techniques used are 100% legal, ethical, practical, and mathematically sound. But more importantly, they are EFFECTIVE and Guaranteed In Writing. The program is based on applied mathematics and is designed to make your money work for YOU in a whole new way! I am often asked the Pros and Cons of using a Line of Credit vs using an interest bearing savings account with TaxSavers Wealth Maker Pro. Here are the major differences to consider: Advantages of a Line of Credit 1. Interest Cancellation. 2. Allows your plan to be more aggressive 3. Creates a safety net. 4. Can be tax deductible in many instances Disadvantages of a Line of Credit 1. Can be hard to get in some areas of the country with falling home values. 2. Watch for associated bank fees (Annual fees) 3. Adjustible interest rate based on prime rate plus a margin 4. Some accounts can have transactional fees. 5. Sometimes do not allow direct deposits…not a real problem because money can still be transferred into the account via manual deposit even if direct deposit not allowed. Advantages of using an Interest Bearing Savings account 1. Everyone has access to one regardless of credit scores. 2. Easy to set up…in person or online. 3. Easy to understand. 4. Earns interest vs. paying interest. Disadvantages of using an Interest Bearing Savings account 1. Savings earned are taxable not tax deductible 2. May have minimum balance requirements. 3. Does not create a cushion of excess available money like a line of credit. 4. Plan cannot be as aggressive with no interest cancellation occuring. 5. It is your own money So, how much can you save using our program? Most clients save $100,000 OR MORE! In real money. Complete your free analysis with us and we'll tell you! No Smoke and Mirrors. No Magic Fix. Just Real Math and REAL software that REALLY works! Think of it as a kind of financial GPS that if you follow it, will not allow you to lose your way.
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