Hello all, I was approached by someone to attend a "seminar" on the above topic. The individual was very vague about how the program works at reducing mortgage interest and simply said you have to attend a meeting to find out. He also claimed to be able to reduce mortgage "principal" which to me is an odd claim. He also claimed that not only is mortgage interest and principal reduced, but monthly payments AND he flashed a picture of him holding a cheque for $70,000 saying that you can spend that money however you wish. Now, it seems to me that a simple refi was done as they state you must have at least 20% equity to qualify for the program. Would you really be further ahead by taking refi proceeds and blowing it on cars and fishing boats??!
A quick google brings up little information except cheesy promotional material littered with spelling errors and misinformation about the Canadian banking system. They also repeat the fact that this Charles guy patented the technique. It almost sounds like a variation of the Smith Maneuvre but can't confirm many details as the info is all so vague.
The person that approached me has NO background as a mortgage broker, real estate investor or FP so I wonder if there is a MLM angle to this?? I know a few people that attended the meeting and they all said it was very vague and left with no answers.
If someone can shed some light, I'd be interested in knowing what the heck they are peddling!
Mike
A quick google brings up little information except cheesy promotional material littered with spelling errors and misinformation about the Canadian banking system. They also repeat the fact that this Charles guy patented the technique. It almost sounds like a variation of the Smith Maneuvre but can't confirm many details as the info is all so vague.
The person that approached me has NO background as a mortgage broker, real estate investor or FP so I wonder if there is a MLM angle to this?? I know a few people that attended the meeting and they all said it was very vague and left with no answers.
If someone can shed some light, I'd be interested in knowing what the heck they are peddling!
Mike
