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January 15, 2008



Kudos on your honesty, rigor, and owing up to a mistake… You are a gentleman and a scholar!

There’s no shame in an error… only in not owning up to it and not correcting mistakes.

In this case, it’s understandable; because that mistake (or omission) is exactly what the purveyors of these schemes want you to do and are counting on!… They intentionally mislead and deceive folks with incomplete comparisons and slick sales techniques... preying on financial ignorance to sell their ‘software’. Even the financially savvy and educated can be duped if they don’t understand both the math and accounting principles, sit down, and do the rigorous analysis and calculations necessary to properly analyze any investment.

It’s all nothing more than simple common sense, but the devil is in the details!

All of the sales presentation and claims we have ever seen are in our opinion intentionally deceptive, dishonest, and misleading… who in their right mind would spend thousands of dollars for something that is ultimately worthless and will loose them money?… it’s simply a horrible investment!

I had posted a comment on your blog last year (with a link to our site) basically saying exactly the same thing... we’ve been posting the information for over 2 years now, and have been educating and helping as many folks as possible!

... I think my original comment ‘disappeared’ due to some broad editing strokes amid the flurry of flack and bs you were getting from the many financially ignorant and fanatic salesmen who ‘drank the cool-aide’ and want to believe...

So, if you will permit me this time:


As stated above, folks can pre-pay their mortgage on their own, save more money, and get better results. Folks don’t need any software, just paper and pen to write out a simple budget.

As for psychological benefits, if any… there are plenty of low-cost alternative budgeting and personal financial mgmt software such as Intuit Quicken and Microsoft Money both of which sell for only $40, are more sophisticated, and backed by large reputable companies.

A HELOC is not necessary in order to take advantage of any potential interest rate arbitrage, which when properly analyzed is de minimis. Likely the HELOC balance transferring voodoo will end up costing folks more in total interest and finance charges not less.

If folks are looking to generate more interest income (discretionary income) from their cash accounts then there are plenty of ‘risk free’ FDIC insured alternatives to the high risk HELOC balance transferring arbitrage scheme. http://www.google.com/search?q=online+savings+account

Don’t be fooled, financially these merge accounts in the USA are inferior to the many free and low cost alternatives, and they don’t replace the need for individual financial responsibility and self discipline!

Find out all the facts, understand your alternatives, and understand the financial decisions you are making. Taking financial advice from unqualified ‘software’ salesman is simply a recipe for disaster.

The interest savings come only from pre-paying principal with income that you earn… it’s not rocket science; it’s just simple common sense! Don’t waste your money and don’t be misled!


with a few references:

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About Author

  • Robert D. Ashby
    was the first Certified Mortgage Planning Specialist in the state of Florida. He is also the owner of Solid Rock Mortgage Corporation in Pembroke Pines, FL and a pilot for American Airlines.


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