Allow cursor within words in iphone

An app or software update that allows instant one tap insertion of cursor within a word on note, email, text message etc on iphones. At the moment if you tap in the middle of a word, the cursor will go to the start or the end of the word. Unless you hold the screen so that the magnifying glass appears and you can then drag your finger to position the cursor within the word. We want to be able to tap on the word for this to happen and not rely on the magnifying glass feature. Official iPhone sdk don't gave permission to third party application to access editing functionality. So app will work only on Jail broken phone and can be uploaded on CYDIA.