🔺 r/personalfinanceusyrupbender·62 days ago
Can someone explain the MFL strategy to me like I'm five? I'm suspicious of it.
Basically my brother in law has started his own business where he helps people refinance with an mortgage free life strategy (MFL for short). In the past I've really only know this guy to be kind of shady and a bit of a scammer who doesn't have his own finances in shape. A lot of my family members are being swooned with 2-3% percent interest rates and calculations that say they will have millions of dollars by retirement. He also claims that their homes will be paid off in 7-8 years. This seems a bit too good to be true and honestly when he called my husband about it he was using a lot of flowery words that made it seem like he knew what he was talking about. My husband and I are well off and he's been coming after us trying to "help us out" really zealously. Is this risky and how do I warn my family members off of it? I don't want to call him out unless I know what I'm talking about and I'm having trouble understanding. Thanks! submitted by /u/syrupbender to r/personalfinance [link] [comments]