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The Money Merge Account(R) system consists of three major components: 1. Your Existing Primary mortgage The existing mortgage on your home is the foundation for the Money Merge Account.2. A Checking & Saving Account or an Advanced Line of Credit (ALOC) The MMA Program uses a checking and savings account or an advanced equity line of credit as a vehicle or a tool to drive the program. The equity line of credit must have the capacity to operate similarly to a primary checking account and be set up with an open-end interest calculation (rather than a closed-end interest calculation). Combined with the MMA's web-based system, this creates a formula in which the money in your line of credit account generates an interest cancellation on your primary mortgage.
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