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— Step 3: Start Using the Program —

Begin using a system to manage your money account

you can use a PFM program such as Quicken or Money to manage your account activity. Start by tracking your BLOC for all income deposits and expenses payouts.

  1. Then advance $5,000 from your BLOC to make a lump-sum payment to your mortgage.
  2. Manage your discretionary income over time to reduce the $5,000 advance.
  3. When the balance drops below $500, advance another $5,000 from your BLOC to reduce your mortgage loan balance.
  4. Repeat the process until your mortgage is paid off.

Or ...

You can use the MMA software to manage your account.

Once you have setup your BLOC account and MMA password, you can now login into the MMA system and begin using the program:

The MMA software login:

  • creates financial models
  • does financial planning
  • functions as an online register
  • maximized money performance
  • takes only 10-15 minutes per month to update
  • complete customer support and assistance

Note that the web site:

  • does NOT move money
  • does NOT pay bills
  • does NOT have access to your money accounts
  • does NOT pose as a security risk since it only displays information

Use your BLOC as your money account:

  • deposit all income:
    all income earned such as pay, cash awards, bonuses, and cash gifts should be deposited (or paid) into your BLOC

    Note: you do not need to close your existing checking account. It may continue to function as your money-in and money-out account.

    You can use your checking account to manually or automatically deposit all income. You will then use your online banking to transfer checking deposits to your home equity line account (or if you don't have online transfer capabilities, you can issue a paper or electronic check for the amount to be deposited to your BLOC).

  • pay all expenses (payments):
    you will pay all of your living expense payments from your BLOC. This includes:

    • your regular monthly mortgage payment
    • your utilities bills
    • your insurance
    • your living expenses

go to Success Plan: Step 4


Home Equity Application

FAST Mortgage Payoff

  • [view] 10-Step Success Plan
  • [view]STP3: Start Using
  • [view]STP10: Final Note
  • [view] Get Started
  • [view] Home Valuations