Answers to Our Top Questions



5. CAN I DO THE SAME THING MYSELF WITHOUT YOUR SERVICES?
Almost. You can pay off your mortgage early and save money by increasing your monthly payment and making additional principle payments, but human nature is against us. Statistics show 97% of people who try to do this fail to do it consistently and never save any substantial money - those arent good odds to gamble with on what will most likely be the biggest investment of your life. Plus, when you start making these increased monthly payments, thats where a lot of the mistakes indicated by the F.D.I.C. occur. The 3% of America who have the discipline, and resources, to make increased monthly payments have a 50/50 chance of losing a lot of their savings due to errors in loan amortization, interest compounding, index and margin calculations, etc.

Our free service includes AUDITING your mortgage to track your savings and catch possible lender mistakes. To have an outside company audit your mortgage can cost $100 to $150 per year and is critical since the F.D.I.C. estimates errors occur nearly every other mortgage with average mistake costing the homeowner over $1,500.00.

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6. I CONTACTED MY MORTGAGE LENDER AND THEY SAID THEY WOULD NOT ACCEPT ELECTRONIC BIWEEKLY PAYMENTS, SO HOW CAN YOU DO IT?
Your mortgage doesnt actually change to a biweekly mortgage because that would require refinancing (which involves new appraisals, surveys, inspections, title verifications, financial statements, etc.) and a cost of several thousand dollars. Rather than the homeowner budgeting a full payment once per month, theyll budget a half payment every two weeks. We restructure your mortgage onto a biweekly schedule through electronic transfers to give you the same savings and benefits of paying your mortgage biweekly without the cost of refinancing or changing your existing mortgage agreement with your lender. This reduces your loan amount much quicker than a monthly schedule and builds your home equity 300% faster. Funds are forwarded in the form of a check which is verified each month. This creates no problems with your lender and also provides a paper trail which can be used in case of a lender miscalculation.

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7. I AM ON A TIGHT BUDGET, ALWAYS PAYING MY BILLS AT THE LAST POSSIBLE MINUTE, CAN I STILL ENJOY THESE SAVINGS?
Absolutely. In fact, youll find biweekly payments much easier to budget than monthly payments. It might take a little getting used to at first, but the benefits and savings youll enjoy make it well worth it. The National Council of Savings Institution says biweekly payments are pro-consumer because they equal the paycheck flow. Since biweekly payments correspond to Americas paydays, it makes mortgage payments much easier for homeowners who are on a tight budget or have a difficult time saving money. If your budget is so tight that you commonly mail checks before you have available funds in your account, knowing the check will not be presented for a few days, you can still take advantage of the biweekly mortgage savings. Asking your bank for overdraft protection will allow your biweekly electronic transfer to occur even if you deposit the funds a few days later.

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8. WHAT EFFECT WILL YOUR SERVICE HAVE ON MY ABILITY TO DEDUCT INTEREST PAYMENTS ON MY TAXES ?
Many people are led to believe its bad to pay off their home early because they will lose the tax write-off. This couldnt be further from the truth. In reality, it gives you added income. For example, if youre In a 25% tax bracket and you write off $10,000.00 in home interest payments, you save $2,500 off your taxes. Thats a $10,000.00 expenditure to save $2,500. On the other hand, if you owned your home and didnt pay $10,000.000 in interest payments, you would have to pay $2,500.00 in taxes on this money, but you end up with $7,500 in spendable income.

Its a fact that most Americans sell their home after 7 years. Its also a fact that you can make monthly mortgage payments for 7 years and still not have enough equity on your home to pay a realtor to sell it.

By tripling the accumulation of home equity, youll have additional money at your disposal to pay for education, vacations, a new car or boat, retirement, etc. Youll be able to deduct these interest payments where you normally wouldnt be able to if you took out a separate loan for such items.

You also have the ability to dramatically upgrade the quality of the home you live in by building equity 300% faster and transferring this extra equity into a more expensive home if you desire.

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