United First Financial Money Merge Account Restructuring Fees

Some of the questions I've been asked about the United First Financial Money Merge Account are about fees associated with the following situations:

1) What would happen if a person on the United First Financial Money Merge Account were to sell their home
2) After they paid off their home if they can transfer the United First Financial Money Merge Account to another property.

Well, a couple of days ago, all Agents received a notice from United First Financial Corporate addressing the restructuring and transfer fees of the Money Merge Account. I thought it would be a good idea to post them here this way your know exactly what they are.

a) If you refinance your First Mortgage or HELOC on the subject property, then the fee to restructure is $100

b) If you sell your current home and the mortgage WASN'T completely paid off yet with the United First Financial Money Merge Account, then you can transfer the United First Financial Money Merge Account to your new property and pay down that mortgage for a fee of $100

c) If you sell your current home and the mortgage WAS completely paid off with the United First Financial Money Merge Account, then you can transfer the United First Financial Money Merge Account to your new property and pay down that mortgage for a fee of $500

d) After your subject property's mortgage is paid off with the United First Financial Money Merge Account, you can transfer it to another property (like a second home or investment property) and payoff that mortgage for a fee of $500

This is great news since many people think that once they paid off their mortgage on one property, they would have to pay the full fee again for the next property they want to payoff. As you can see, this is not the case.

I hope this information clears up a lot of the debate on the United First Financial Money Merge Account and if you have any other questions, feel free to call or email me.