The Mortgage Manager is a
mortgage payment service. We use electronic fund transfers to debit the
homeowner’s bank account every two weeks. Biweekly transfers
mean that funds are transferred every two weeks not twice per month.
There is a difference.
When a homeowner changes to a Biweekly budget, it allows them to
accumulate the equivalency of a 13th payment over the course of an
entire year by giving them the ability to make 26 Biweekly payments.
Funds are forwarded to the lender once per month because that is the
only way they will accept and post them. Periodically the lender will
receive the equivalent of 3 Biweekly payments to post in a single
month, which allows one biweekly payment to be applied to the principal
balance of the loan. Funds are immediately forwarded to the lender, not
held and applied directly to the loan’s principal balance
increases the homeowners equity as much as 300% or more. It also
greatly reduces the amount of interest paid because the lender
compounds interest on a lesser amount.
The auditing program which is supplied to subscribers after using the
service for a MINIMUM of 6 months, will track the biweekly payments to
make sure they are applied correctly by the lender. You are sent a
password to enter and access the auditing program. This means that the
Amortization Schedule cannot be opened. That is because this is the
auditing portion of the software and require a password to run the
program. You will want to run an audit about once per year and this
password is only sent to subscribers who have been using this service
for a minimum of 6 months - ABSOLUTELY NO EXCEPTIONS.
What really helps establish the Mortgage
Manager as a leader in the industry can be directly attributed to the
refinance policies of many Lenders and Mortgage companies, as well as
the high start up fees that other companies charge for this exact
service. In using the Mortgage Manager, this service is absolutely free
to subscribers, which sets us apart from our competition.
We cannot provide this service to any mortgage outside the United
States, the reason is because of monetary exchange rate, meaning their
payment (in U.S. funds) would constantly change with each payment
depending on what the value of a dollar is at that present time.
However, in the U.S., our Bi-weekly mortgage service is 100% bank and
lender approved, so there is no bank or lender that we cannot work
with, even private lenders. This service works with all types of
mortgages, first and second mortgages, commercial and residential
mortgages, including mortgages on trailer homes, mobile homes, rental
property, apartment complexes, hospitals, churches, office buildings,
etc.
Homeowners do not change lenders because we do not
“buyout” their mortgage or take it over. We simply
service their existing loan with the existing lender so they can
receive the benefits without incurring any refinance charge or other
costs. We do not send any statements to the subscriber, however, you
will continue to receive all information your lender normally sends
you, monthly statements, coupon payment booklets, etc. provided there
are no changes to the loan. The owner can simply disregard any coupon
payment booklets received because the Mortgage Manager sends the proper
information with the payments to the lender.
The Owner is always notified by the lender of any changes to their
payment, payment address, or transfer of their loan to a new lender. It
will be the responsibility of the owner to notify us of any such
charges. For example, if the lender adjusts their escrow payments and
changes the amount of their monthly payment, the Biweekly payment is
adjusted to reflect the change. When the Owner moves or refinance, they
will usually cancel the service for a month or two while all the
changes are taking place and then transfer the service to their new
mortgage. There is no cost to do this.
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