Get Started

Getting Started - 3 Step Plan

Step One: Decide How to Manage

First, you need to decide how to manage your mortgage payoff account and activity

You can use PC-based PFM software programs such as Quicken or Money to manage account activity. Or you can use the MMA software to offer a hand-ons approach. Your choice.

Step One(a): Using PFM Software

If you choose to use PFM software such as Quicken or Money, download the programs at the following sites:

Quicken | Money

Use the program to setup your BLOC and other money and budgeting accounts. You will make all income payments into the BLOC and pay out all living and other expenses from the BLOC (see mortgage payoff slides for illustration).

Then advance $5,000 from your BLOC to make a lump-sum payment to your mortgage.

Manage your discretionary income over time to reduce the $5,000 advance.

When the balance drops below $500, advance another $5,000 from your BLOC to reduce your mortgage loan balance.

Repeat the process until your mortgage is paid off.

Step One (b): Using MMA Software

The MMA software functions as a desk-top tool to give you a quick assessment of your mortgage position every time you log-in.

Additionally, the software —

uses mathematical models to recommend the pay off amounts based on your cash position

manages your BLOC to avoid debt run-up

functions as a register to help you budget life expenses and wants

One-time Setup Cost: $3,500
many customers will pay the fee when they setup their BLOC, thus no money out of their pocket:

cost is an one-time fee

no monthly service or other miscellaneous fees

cost covers the entire mortgage payoff period

cost includes customer support, upgrades, and other maintenance

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