What is the typical Index, Margin and Caps for the Mortgage Accelerator Program?

Asked by Mike Mueller, Walnut Creek, CA Wed Jul 25, 2007

I see the adds, I've watched the videos, nobody can tell me what the Index, Margin and Caps are? Why is that?

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Scott Jower, , San Mateo, CA
Sun Jul 29, 2007
If this is the Mortgage Accelerator Program offered by CMG...the index is based on the Libor, you can buy the margin down as low as .75 or on average have a margin of 2.25. I'm an approved lender for this program but would not recommend it. It's a clever way to market a new type of loan, I believe it has some negative consequence on the amount of mortgage interest you can deduct. There are better ways to achieve the same thing this program is trying to accomplish.

Feel free to call me at (650) 577-5886 if you're interested or curious to learn more about it.
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