Debt Articles Scam Articles

Mortgage Accelerator Plus Software and Australian Loan Reduction Money Merge Scheme

I’ve heard a lot lately about a magical mortgage reduction scheme from Dave Burke and his Real Talk Network hype. The Mortgage Accelerator Plus software Dave Burke hawks was originally created by Norm Bour. But the basis of Burke’s HELOC mortgage reduction scheme seems to come straight from the work of Harj Gill that has been teaching this method since at least 1997.

[flashvideo file=/wp-content/uploads/maps.flv /]
Software from Norm and Mike, the guys that created the MAP software.
Can you imagine a worse promotional video?

Mortgage Accelerator Plus is nothing more than what most debt reduction calculators, many are available on the web for free, can offer. MAP was created by Norm Bour and for some reason his Mortgage Accelerator Plus site is no longer operational. But his approach was this “Australian mortgage acceleration” HELOC scheme that it looks like Burke took over and uses as part of his magic debt reduction hype. Authorities in Australia cracked down on people promoting this pitch. Source

The Australian Securities and Investment Commission (ASIC) has acted to close down loan calculators on more than 100 websites of Australian financial institutions, including banks, credit unions, other lenders and finance brokers.

The calculators suggested that using a line of credit will result in the consumer paying off their home loan more quickly.

‘Most lines of credit charge higher interest rates than standard home loans, so when you stop to think about it, it was extraordinary to suggest that paying higher interest could pay off a loan sooner’, said Mr Greg Tanzer, ASIC’s Executive Director of Consumer Protection and International Relations.

The loan calculators produced a graph, comparing the time taken to pay off a standard loan with the time taken using a line of credit.

However, the way the calculator was designed meant that:

  • extra repayments were credited to the line of credit but not to the standard loan;
  • the line of credit was at the same interest rate as the home loan; and
  • these assumptions were not made clear to the consumer, so that the calculator showed that the line of credit was paid off more quickly than the home loan but it was not clearly stated that this was due to higher repayments by the borrower.

‘The only way to pay off your loan sooner is by moving to a loan with a cheaper interest rate or by making extra repayments. In fact, if you can afford to make extra repayments you will probably save just as much by making those payments on your existing loan, and you can avoid extra costs, such as early repayment penalties and application fees, by not refinancing,’ Mr Tanzer said. – Source

Manage your mortgage by getting a new home equity line of credit (HELOC) which only charges interest on the outstanding monthly balance. Since this is true, one could borrow money on the HELOC to pay down the first mortgage and then manage the HELOC balance through a complex bill paying structure. This leveraging of the way HELOCs versus first mortgages calculate interest could be used to minimize total interest owed with careful management.

As with most scams, a little bit of truth is necessary to sell the mark. But the MMA folks just used up all their truth right there. Yes, a HELOC charges interest a different way. However, can one really conclude an actionable difference exists that is so powerful the average home owner can pay off their mortgage in seven years?

Absolutely not…it’s ridiculous to even suggest it.

Banks are in the business of extracting more money from you, not less. If the banks had a loan product on the shelf (home equity loans) that killed the income from one of their most successful products (first mortgages), they’d pull it off the shelf.

Money Merge Account Software [Like MAPS]

MMA’s require a new HELOC and $4,000 software to “manage” everything. This is just when banks are cancelling Home Equity Lines in record numbers due to dropping home values. An obvious limitation tosses this program out before it ever gets out of the gate.

But even if you can get the HELOC, I would NOT suggest a money merge account to pay your mortgage off early. Who wants to go into more debt to buy their overpriced software (anywhere from $1600 up to $6,000) and be restricted by the system to funneling all bill paying and all income through the new HELOC? There are a ton more requirements for the system to work as advertised most of which the average home owner could never complete.

This money merge account system is ugly and is really just a way for loan starved originators to move into selling overpriced software and HELOC’s since bona fide home buying and refinancing has dried up completely. – Source


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

READ  Dave Burke and his Real Talk Network Sent Me to Collections. - Stan

About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.


  • Hi Steve,
    I’m a little confused reading your back and forth comments with ” norm”
    Does this MAP program work ? although HELOCS are more restrictive to obtain from banks nowadays, I do have a LOT of equity in our home. Does it make sense to obtain HELOC simply to pay off first mortgage ? Seems after analysis Australian commission deemed these acceleration programs nothing more than a scam.

    • You dont need a big LOC but it could be useful
      1)If you have good credit look into a No cost or low cost refi, do the math and make sure it works, fixed mortgage rates are at a record low right now
      2) a couple months after you get the refi, go get a no cost HELOC, you wont need much just make it twice your monthly household income
      a)if you make 10K /mth get a 20k HELOC
      b)write a check for 15k to your primary mortgage from the HELOC
      c)from here on out use your HELOC as a primary checking account make all deposits of income into the HELOC and all withdraws from your HELOC

      Look up a mortgage acceleration chart online and put all your numbers in then add the 15k additional payment to your loan and see how many years it takes off your mortgage,, it is awesome. Oh and by the way you do not have a monthly payment on your HELOC just minimal interest they will automatically take out

      This is mortgage acceleration, you dont need to spend 1000s of dollars for basic fundamentals

  • Steve,
    I’ve written extensively on the Money Merge Account product. There are a number of us “naysayers” who have made it a hobby of engaging with the agents selling this and asking simple questions they never seem to be able to answer. I’d invite you to see (through the link from my name) both the (free) spreadsheet I use to challenge and debunk these scams as well as the 60+ page PDF of my writing on the topic. “Do it yourself” will always beat these convoluted programs and I can prove it, easily.
    .-= JoeTaxpayer´s last blog ..More on Estate Planning =-.

    • Thanks for the comment and the link. You’ve got a great page there with so many links to MMA resources. Everyone interested in this topic shoul take some time to read it.


    • Steve,

      MAP was a joint effort between me and my now former radio show partner, Mike. I found it, wrote it, and it was my baby since 2002, and he was not actively involved but for the workshops we did and the marketing through the radio. Last year we discontinued the radio and he went his way and I went mine. I still own MAP, the software, and the business version, Business Profit Accelerator. I merged my talents in with a company providing many, many more services, and we’re working with businesses, chambers and cities. My part is covering the business debt side, but I also train and market.

      MAP is in hibernation if you will, still available, and will possibly resurface under that name or possibly another at some point. I still am 100% in tune and committed to what it did and does, but right now have other priorities.

      If there is anything I can help you with, please let me know. My main web site is, my new company is, and my personal e-mail, [email protected].

  • Hi Steve,

    I wanted to clarify a few points, please:
    – At one time Burke was a MAP Affiliate but he decided he didn’t need the product/ program itself, and instead created an overpriced package that we never endorsed or promoted. I totally disagree with his claims and his overly aggressive sales tactics. MAP was always designed to be educational first and was promoted as such
    – The video you don’t like was not a MAP promo video, it was for our radio show audience when we did live workshops. It was nothing more than entertainment which was shared with people that were listeners and fans.
    – We all know that mortgage and debt acceleration is not driven by software, one of my biggest beefs against UFF and the MMA account. Even so, when you combine the education with the software with the HELOC it does work and we have hundreds that have done it. HELOCS were at one time a critical piece and they actually do what we claim they do- if used properly. Like anything in life, it’s understanding the rules.

    So kudos for helping people with their pains and to get out of debt, it’s an overwhelming and thankless duty we have to share.

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