We are releasing a beta version of our Streamline Your Debt – Savings Account Version. We have had many requests for this version and we put it through some basic tests and are ready to release for beta testing. Please download and test it out. Let us know what needs to be fixed before we release to the public.
www.streamlineyourdebt.com/download/Streamline_Your_Debt_Savings_Version.zip
thanks,
Streamline Your Debt Team
For some time we have been trying to find out if credit card companies are really willing to help you get out of debt or do they want you to owe them money forever. It would seem logical that they would rather have you pay for the longest amount of time so they can get the most amount of your money.
You hear all the time that you can call the credit card companies and they will lower your rate, reduce your debt, etc. We never knew anyone that tried this, but we recently had someone on this blog send us a story about their experience with their credit card company. We have printed the email below for you to read. Maybe you can get enough courage to give them a call before it is to late.
“I am in credit card debt that is very bad. I owe $25,000 on one credit card!!! I work a full time job, but paying a $600 minimum payment was not getting me anywhere and it was taking all the money that I had. So I did one of the hardest things I have ever had to do….. Call the credit card company and see if they could do anything for me. I called and told them I wanted more info about programs that they had to help people who need a lower minimum payment. I got transferred to a different person and he said they could help. Tell people on the blog that they need to have all their financial info ready. The credit company will ask about it. They wanted to know how much I took home after taxes, how much my utilities cost, loans for cars, mortgage and if we had any other credit cards. Once he had all this info he made me an initial offer. They have a program that would allow me to pay off the entire debt in 5 years at 2% interest for $427 a month. I liked this a lot because it would be paid off in 5 years. Something that the 24% interest I was paying would never allow. The problem was that I did not want to even pay that much a month. So I pressed for a better deal. I asked for something that would allow me to pay less each month for the next year and then we could look at it again. He offered a 6% interest rate and a payment of $246 a month for 12 months. It would not pay down the debt much, if any, but it would also not get me in trouble with them for the next 12 months, as long as I paid this payment. After the 12 months, then I would be able to do the 5 year plan if needed. I agreed to this deal and now only need to come up with $246 a month. What a relief. I read in a forum that you were looking for people with stories like this, so here it is”
So their you go, someone that has been their and done that. I am impressed that the company was able to work such a good deal considering the amount of debt. I guess they would rather get something instead of nothing.
So get up the courage, call the bank and reduce your debt. I am sure that if this person had pressed for an even better deal, they could have saved even more. Maybe even got some of the balance reduced!! I have heard it happens.
If you have a story like this that you want to share, add it as a comment so everyone can read it!!
Streamline Your Debt Team
This version is just a utility release. It was meant to have more features, but do to a bug fix that we wanted to get out, we released it now. You will notice that their is a new button on the main page that has been turned off. It is part of the new features that will be coming out in a future release.
Bugs:
1. Their is an out of bounds array issue with some debug log file created by the program. This entire block of code was just disabled since it was only used for debugging purposes.
Enhancements:
1. The monthly deposits max value has been increased from $10,000 to $50,000. Monthly Deposits max value is also $50,000.
thanks,
Streamline Your Debt Team
Version 1.4 has been released to download.com. The following is a summary of the changes and features added.
1. Algorithm has been changed to increment the initial deposit by $1,000 each time up to the HELOC limit. This should provide more resolution when optimizing.
2. New progress bar added, two now show better resolution on progress
3. Ability to select to optimize for less months or less interest. Not much different, but something people asked for
4: Their is now a config page, get to it under the edit menu. This allows the user to have total control over the way that the program calculates the savings. You can change ratios used or enter values you want to use. This should allow the user to experiment with different settings.
That is it for this release,
JD
This latest version has some minor changes in the interface and some bug fixes. We will use this posting as a form of build report. Things that get fixed in each release will be listed below.
1. Summary page will now update the red text that tells the user that a payment to the mortgage is now due. It will also show the check form as a reminder. Before, this red text would not show if the user was trying multiple things with the wizard. It would show the first time it was used, but then never update. Not a big deal, but still a bug. It would correctly display the info if the program was closed, then opened back up again
2. The HELOC max was not being used to control the maximum level that the program would allow for the initial deposit. At certain times, it would allow the first payment sent to the mortgage to be higher than the HELOC max. This has been fixed to not allow this to happen.
New Additions:
1. We have now made it so the wizard will remember the last info that you entered. Previously if you closed the entire program and then opened it back up, it would contain default info. Now it will remember the information that you previously used and it will load those values.
Streamline Your Debt Team
Now that the Mortgage Accelerator software has been released and is getting great feedback, we want to make it even better. We are asking the public what they want to see. We have not taken the time to look at competitors products because we cannot afford them, but maybe you have?
If you have ideas as to what they have that we don’t or what we should have to make ours even better, then send them to us. We cannot implement everything, but we are open to all suggestions. We have already had several great ideas sent our way and have been able to add all of them to the latest release, V 1.3.
So lets get some ideas flying, streamlineyourdebt@streamlineyourdebt.com
Thanks,
Streamline Your Debt Team
This is something new that we are working on. It is actually done, but still in testing. It looks just like our original mortgage accelerator software, but instead of using a HELOC to help you pay down the mortgage, it uses a savings account. It is nothing that you could not do on your own, but the software will provide you with a road map and a way to see how a few bucks each week can help you pay off your mortgage.
We feel that with the lack of HELOC’s available in some parts of the US, this might be something that will appeal to people more.
It has a nice wizard interface that will get some basic financial data from you, including your monthly bills and deposits. It will even ask you for a “cushion” that you would like to keep in the savings account. Then it will quickly optimize and show you how fast you can pay off your mortgage, just by using your savings account. It has a mortgage and savings account table for you to see how things will work from day one to payoff. You can import your own bank statement and it will recalculate the savings and pay off date.
So far this software is looking pretty good, stay tuned….
Streamline Your Debt Team
This is the latest version of FREE mortgage accelerator software that we are releasing. Version 1.0 was released on download.com almost a month ago. We fixed a few bugs and have released version 1.1.
What is mortgage accelerator software?
Mortgage accelerators like this are designed to allow you to use a Home Equity Line of Credit to help pay off your current mortgage. The work because a HELOC is an interest only loan for a certain number of years. This allows you to be able to take large sums of money from the HELOC and send it to the mortgage, thus saving you thousands of dollars in interest on your mortgage. This software will predict payoff times based on your financial situation. It even allows you to import your bank statement and then it will recalculate your payoff date. This shows you how large purchases or deposits will effect your payoff.
How are we different from the other software available?
Our software is FREE!! It does the same things that others do, but does not cost $3500…..
This software is a work in progress, so please email us with bugs or enhancements that you would like to see.
Streamline Your Debt Team
Fill out the form below and click the button below. A code will appear at the bottom of the page. Cut and paste this into the registration page in the Mortgage Accelerator program along with your email. Although not required, we would appreciate any feedback that you can provide about this program. If you see anything that needs to be improved or included, please let us know. Email us at “StreamlineYourDebt (at) StreamlineYourDebt.com”.
Most people would say YES!!! I agree, it is temping, so lets take a look. Their are programs out that will show you a roadmap to saving a forture, MMA from UFirst, is one of the largest and most expensive. I love the fact that it is MLM, since mlm is by far the easiest way for the average person to make money. But I will leave MLM comments to another post.
Back to these programs. The idea is that you will take out a Home Equity Line of Credit and use it as a bill paying checking account. You deposit your paycheck into the account each week and pay bills from the account, but use it for nothing else. You just need to make sure that you are putting more in than you are spending, pretty simple. The software tracks this and then will tell you when you should move large chunks of money from your HELOC over to your mortgage. Doing this many times during the life of the loan will save you thousands in mortgage interest and many years off the length of the loan. The really nice thing is that you are actually making the “interest only” payment on the HELOC each time you deposit your paycheck. So you pay a little interest on the money you borrowed, but you save a bunch on the mortgage side.
Using this software also allows you to see how large purchases and large deposits can effect your ability to pay off the loan early. At the end of each month, you will import your monthly bank statement and it will recalculate your pay off date and when payments should be made. This allows it to keep you at the most optimine level of savings.
So would you pay $3500 for this?
I personally said “NO”, but that is a choice that each person should make on their own. I figured that it was basic math, you just need to figure out how they did the math. After some work in Excel, I figured out a basic algorithm that would allow me to accomplish close to what they came up with. I figure that it is not as agressive as their program, but it did not cost $3500 and still manages to save $100,000+ and 10-15 years off the average mortgage.
I will be posting more about our version of this program very soon.
thanks,
Streamline Your Debt Team
