About The Mortgage Manager
The Mortgage Manager is a mortgage payment service. We use electronic fund transfers to debit the homeowners 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 loans 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.