I believe Melissa Gallagher is the wife of the owner Mr. Gallagher. I have his first name someplace. She was advertising a 4.5% rate with no neg am.
I was dying to know their pitch, cuz I couldn’t figure it out. If you called them, you got NO information over the phone, they would ONLY set a face to face meeting with you to explain (Red Flag #1)
Well, I finally found someone who had that face to face. Now I’m pretty creative and can be crafty within the bounds, but their pitch was more outrageous than I could have EVER imagined.
They MAY be involved in multiple lawsuits with lenders and borrowers although I DON’T KNOW THIS FOR SURE.
Someday when I have time, if nobody else knows their pitch, I will explain it.
The next/newest one to watch out for is called MMA or Money Merge Account. Their pitch is that you can pay a mortgage off in “as little as” 7-10 years just out of your regular cash flow, by using a HELOC. It didn’t take me long to dissect this one.
First off, it is a MLM scheme to be an agent. You pay $175 for the privilege. Then, you don’t actually sell people a loan, you sell them software for THIRTY FIVE HUNDRED dollars, ya $3,500.00 and you get a commission.
The software tells you how to accomplish the seemingly complicated task. I’ve seen the presentation and they claim to have some serious endorsements of how well it works, including one important guy who states that he’s never endorsed any product before, but he endorses this one…
and several accountants and CPA’s.
Part of me was so amused that I couldn’t concentrate on part of the show.
If anybody reading this has seen the presentation and pitch, please post here. I’m not going to say that their claims are false, and perhaps I need to review the program again.
According to the upline of the guy that pitched me, there are at least 18,000 agents already, (he wasn’t sure)
I ask a lot of questions, but told him that I wasn’t interested in pitching any product that I didn’t believe in..
Will talk about this more, curious to know if anyone has heard the pitch for either of the above.
