How U. S. Homeowners save Thousands of Dollars on their Mortgages.
Beginning with a simple mortgage calculator discover what lenders are not telling homeowners. Learn how to take advantage of the only truly free mortgage management service in America that actually helps The People.
(PRWEB) November 19, 2002
Attention homeowners
Have you been getting anonymous offers in your email box that have been offering "low" percentage rates? They seem to arrive hand-in-hand with those emails from 'Nigerian Bank Officials' who want to share billions of dollars with us (for a fee).
Example 1:
"REFINANCE NOW, EVEN WITH BAD CREDIT!!!
"*Best Refinance Rate for credit challenged.
*Best Customer Service
*Lowest Interest Rates in Years
*SAVE $100-400 per month
"OUR EASY APPLICATION ONLY TAKES 2 MINUTES.
"click here for more information
Http:// (http://)??.???.???.??/unknown. html? leadsource=spammer-service"
Example 2:
"Hi!
"FUNNY MORTGAGE NETWORK (FMN)
GET A FREE MORTGAGE QUOTE FOR ANY STATE!
We specialize in approving BAD CREDIT!
"Bad Credit, No Credit, We can refinance your home or consolidate your debt at the BEST RATES in the industry, GUARANTEED!
"Just click on this link and fill out our short form. No Jokes! No Hassles!
Just fill out this short 30 second form
We approve the worst credit!!"
Example 3:
"MORTGAGE RATES ARE STILL DOWN!
Currently as low as 3.75% for 30 Year Fixed term
"Refinancing,
Debt Consolidation
New Purchases,
Commercial Loans
"Click Here to Apply Online
"Now You're In Charge, Let Lenders Compete For Your Business,
Quickly and Easily Find many different Lenders' Offerings
At the ABSOLUTE LOWEST Rates and best Terms for ANY Situation!
"3.75% For 30 Year Fixed Term Mortgage
"Click Here to Apply Online
"Home Improvement
Refinancing * Second Mortgage
New Purchase * Special Loans"
Even if one of those emails is legitimate here are the facts your mortgage lender doesn't want you to know:
*After paying 15 years on your 30 year mortgage. Homeowners will still owe 90% of the amount they borrowed.
*After paying nearly 24 years, homeowners will still owe over 50%.
*Homeowners will pay over three times the amount they originally borrowed before paying off their mortgage.
*To make matters worse, the F. D.I. C. estimates that 1 out of every 2 mortgages are miscalculated overcharging homeowners $8 - $10 BILLION each and every year.
*On a conventional 30 year mortgage, the average homeowner will make over 120 unnecessary payments.
In this dissertation, I would like to show homeowners how to solve these problems absolutely free.
By changing their regular monthly payment schedule to a biweekly payment schedule homeowners can:
>Save thousands of dollars on their mortgages without increasing their payment.
>Shorten their 30 year mortgage by seven to 15 years without refinancing.
>Build equity in their home 300% faster.
>Turn their current mortgage into an investment program.
>Increase their net worth dramatically.
>Track their savings and audit their loans to find lender mistakes which occur about 50% of the time according to the F. D.I. C.
The following are quotes from periodicals which advocate the use of a biweekly schedule in paying a home mortgage:
Wall Street Journal - "A $70,000 mortgage at 10.5% annual interest produces savings of $60,000 when repaid on a bi-weekly schedule."
The New York Times - "Biweekly Mortgage: A Way to Build Equity. A biweekly mortgage is best... for anyone who wants faster equity buildup. The idea of biweekly mortgages is 'simplicity itself...' The result: a reduced term, substantial savings in interest and an acceleration of equity."
Parent - "The simple fact is that a biweekly mortgage schedule not only saves the homeowner a bundle, but makes him or her a homeowner much sooner
National council of Savings Institutions - "Bi-weekly payments are 'pro-consumer' because they correspond to America's paydays making mortgage payments much easier for homeowners who are on a tight budget or have a difficult time saving money."
Washington Post - "It Pays to Check Loans for Overcharges: Of 9,000 adjustable rate mortgages checked, errors were found in nearly half. Average refund owed to the homeowner: $1,588."
A reasonable question to ask is how does a homeowner switch to a biweekly payment schedule with:
No refinancing
No credit reports
No home appraisal
No closing costs
No change of lender
And no change to their current mortgage agreement at all?
Your first step is to get your hands on a proper mortgage calculator that will generate a personalized mortgage savings analysis based on your current mortgage data. Since you are probably on a computer already while reading this you should appreciate that you can have the software to project your savings right now in the privacy of your own home. http://united-states-mortgages. web-freebies. com (http://united-states-mortgages. web-freebies. com) provides the simplest access available to a mortgage calculator which compares your current monthly payments to a biweekly schedule - without pushing any lenders. (It's in a 913 kilobyte, free to download, executable file.)
Personally, I advocate freedom of choice when choosing anything - that includes software on the web. When I performed my own search for a mortgage calculator I was also looking for an all encompassing service that would also provide a biweekly mortgage management service with the greatest amount of freedom; that is it should be so unique that it provides all of the benefits which I mentioned above for free and at no obligation to homeowners to continue with the service. For me, a free, no obligation service which saves thousands of dollars is the true meaning of freedom; it promotes the American Way of Life. Free-Mortgage-Calculator. US offers a true example of freedom as the American Way, so it is listed at The Free Site (http://thefreesite. com/Family_Freebies/Misc_family_freebies/index. html (http://thefreesite. com/Family_Freebies/Misc_family_freebies/index. html)).
The Mortgage Manager™ at is a savings analysis calculator which generates a personalized, six page report; it compares a regular monthly mortgage payment to a biweekly schedule for any particular homeowner. Anyone can download this program at http://united-states-mortgages. web-freebies. com (http://united-states-mortgages. web-freebies. com); it is simple to use and understand, so even a child could do it. The mortgage management service which it offers is optional, yet available only to homeowners in the United States and applies only to real estate owned in the United States mainland. As a United States Citizen and a homeowner you are privileged to partake of this unique service. Of course, in order to advocate true freedom this service must remain an option, but, first, let us consider the facts.
Homeowners could go to another biweekly mortgage management service which might provide exactly the same service, but they will quickly discover that other management companies charge a fee any where between $395 to $1000. Although other biweekly services also help save thousands of dollars on mortgage payments, how many homeowners can take this unnecessary, up-front blow to their pocket books - especially during this difficult economy?
Could homeowners do a biweekly payment schedule by themselves? Almost. A homeowner can pay off his mortgage early and save money by increasing his 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 aren`t good odds to gamble with on what will most likely be the biggest investment in a homeowner's life. Plus, when we start making these increased monthly payments, that`s where a lot of the mistakes indicated by the F. D.I. C. occur. The 3% of America who have the self 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. That's what those lenders in the examples above are looking for; "3.75% over 30 years" seems miniscule now, but every little mistake adds up in THE LENDERS favor over the long run.
That is where this unique mortgage management service in the United States can help. This 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 in nearly every other mortgage with the average mistake costing the homeowner over $1,500.00. Next are two excepts from articles that emphasize the seriousness of this fact:
ATTORNEY GENERAL OF NEW YORK - After ordering the nation`s largest mortgage lender to refund $150 Million dollars in over-charges; "We dug deeper and deeper and found that this system of overcharging is virtually universal. It runs across the entire mortgage lending industry..."
THE HERALD, "Lender holds principle payments - About four months ago, my wife and I decided to start making extra payments on our mortgage. We were shocked when we realized the lender held these checks more than 60 days before applying them to our loan..."
The next logical questions should be: Exactly, who has this unique service available only to United States Citizens? Can they be trusted? This biweekly, no cost, no obligation mortgage management service is provided by Information Brokerage systems (IBS) out of Lenexa, Kansas. Information Brokerage Systems has been in business providing biweekly mortgage service since 1989. In 1995, they developed the The Mortgage Manager™ software program making it possible to provide the biweekly service at no cost to the homeowner. Their Lenexa business license number is 10011767. Their Dun & Bradstreet number is 79-922-3433. They are also members of several business organizations in Kansas including the Shawnee Chamber of Commerce. All of this information can be verified as opposed to the blind emails coming from all those "mortgage lenders."
The Mortgage Management Division of I. B.S. is headed by Executive Vice President Michael Edgecomb who has received national honors for his work with homeowners just like yourself. These honors include being featured in “Who`s Who Among Outstanding Americans”, “International Leaders In Achievement” and the 1996 edition of “500 Leaders Of Influence” which is on permanent display at the U. S. Library of Congress in Washington, D. C.
The International Biographical Institute has awarded him “Man Of the Year” for 1995 - 96 for his development and production of this software - the Mortgage Manager™ (worth $395). This software program has helped thousands of homeowners save $50,000 to $150,000 and more, eliminate years of mortgage payments, and avoid costly lender miscalculations.
Certified trained mortgage reduction experts are managing home mortgages right now with this service. They are just a phone call away to answer any questions. Their phone number is also located at http://united-states-mortgages. web-freebies. com (http://united-states-mortgages. web-freebies. com) at the frequently asked questions page.
The next most logical question should be: How is a homeowner's mortgage payment protected through IBS services? We all work hard for our money and we want assurance that its fully protected. We hear in the news everyday stories of `fly-by-night` companies, embezzlement of huge amounts of money, etc. With the biweekly mortgage service by IBS, your funds are fully protected, insured, and are at no risk whatsoever.
All biweekly mortgage service is done electronically and governed by Regulation `E` of the Federal Reserve System. Regulation `E` is a consumer protection law which regulates the transfer of your funds. In its simplest form, Regulation `E` states; `An account holder has 120 days to contact their bank to reverse any unauthorized electronic debit to their account.` This can be verified at your local bank or Federal Reserve location.
Your biweekly mortgage payments are protected by various safe guards to eliminate such illegal activities such as embezzlement. Any fund transfer over $1,000 has to be approved by an officer of the company and NO fund transfer can exceed the maximum amount of any single mortgage we service. Every employee of the company is covered under a self-insured `employee dishonesty bond` thus protecting every one of your mortgage payments up to $10,000.00. The free Mortgage Manager™ software also allows you to track and audit your mortgage payoff and savings every step of the way by using a special code number that is sent to the home owner from IBS after a minimum of six months on the service.
Using the Mortgage Manager™, even on a trial basis, commits homeowners in no way. The service by IBS is free, so trying it costs nothing. If a homeowner is unhappy, he can cancel at any time without any obligation whatsoever.
The next most logical question should be this aspect of freedom to homeowners; it seems too good to be true, so there must be a catch. Let's face it: As homeowners we have heard of this biweekly service before, but it was never free. How can IBS provide so much at no cost? The Mortgage Manager™ competes with over 600 banks and other private companies who offer biweekly mortgage service. They ALL charge a fee ranging from $395.00 to over $1,000.00. IBS could easily do the same, but homeowners who are just getting by (and who need this service the most) have a hard time paying a few hundred dollars even when its going to save them thousands of dollars.
When IBS developed the Mortgage Manager, they searched for a way to eliminate this cost while providing the service free to the homeowner. VOLUME is how they are able to still generate revenues without charging the homeowner. The Mortgage Manager™ is the most popular and efficient mortgage reduction system in use today. IBS is paid interest in exchange for managing millions of dollars in biweekly mortgage service. Every company has to generate revenue in order to service their customers and stay in business, however, earnings to IBS don`t come out of the pockets of American Citizens like they do with their competitors. They are the only company in America who offers the biweekly mortgage service for FREE to homeowners.
Homeowners will notice a small banking service fee to process their electronic transfers. This is something that Information Brokerage Systems has no control over and does not profit from. This fee can be compared to `free` cellular phone calls on evenings and weekends. You still pay 3 to 5 cents per minute which pay for taxes and other things the phone companies have no control over. This fee exists with all biweekly mortgage service, even other management companies that charge homeowners over $1,000.00 up-front for the service. Homeowners already pay this small fee (plus a whole lot more) each and every month to their lenders.
Are you a homeowner who has no idea how to start biweekly payments? For argument's sake let's say you contacted your mortgage lender and they said they would not accept electronic, biweekly payments. "How is it done?" A homeowner's mortgage doesn`t actually change to a biweekly mortgage because that would require refinancing (which involves new appraisals, surveys, inspections, lives verification, financial statements, etc.) and a cost of several thousand dollars. Rather than the homeowner budgeting a full payment once per month, they`ll budget a half payment every two weeks. IBS can restructure a mortgage onto a biweekly `schedule` through electronic transfers to give homeowners the same savings and benefits of paying a mortgage biweekly without the cost of refinancing or changing their existing mortgage agreement with their lenders. This reduces a homeowner's loan amount much quicker than a `monthly schedule` and builds his home equity 300% faster.
Funds are forwarded in the form of a check which is verified each month. This creates no problems with lenders and also provides a paper trail which can be used in case of a lender miscalculation.
Let's say that a homeowner is on a tight budget, always paying his bills at the last possible minute. Could a homeowner still experience the savings from a biweekly schedule? This same homeowner will find that `biweekly` payments are much easier to budget than `monthly payments.` It might take a little getting used to at first. The benefits and savings that homeowners on a tight budget enjoy are probably worth it.
The National Council of Savings Institutions says "biweekly payments are `pro-consumer` because they equal the paycheck flow." Since biweekly payments correspond to America`s paydays, it makes mortgage payments much easier for homeowners who are on a tight budget or have a difficult time saving money.
The most important question raised here could be the effect on taxes: What effect will a biweekly mortgage management service have on a homeowner's ability to deduct interest payments on taxes? Many people are led to believe it`s bad to pay off their home mortgage early because they will lose the tax write-off. This could not be further from the truth. In reality, it gives homeowners added income.
Most Americans sell their homes after about 7 years. They can make monthly mortgage payments for 7 years and still not have enough equity in their homes to pay a realtor to sell it.
By tripling the accumulation of home equity, homeowners will have additional money at their disposal to pay for Education, Vacations, a new Car or Boat, Retirement, etc. Homeowners will be able to deduct these interest payments where they normally would not be able to if they took out a separate loan for such items.
Homeowners also have the ability to dramatically upgrade the quality of the homes they live in by building equity 300% faster and transferring this extra equity into a more expensive home, if they desire.
What it boils down to is practicing freedom in the "Land of the Free." The problem is that most people don't know how to practice real freedom and mistake it for 'freedom from responsibility.' This has resulted in ignominious businessmen ripping off The People and careless corporate executives despoiling and polluting the land for personal gain. Real freedom begins at home with the citizen practicing democracy through the great American Dream. Owning a debt-free home in the safety and sanctity of a free land with peace of mind is a civil right only in the United States of America. This includes economic safety and sanctity. If you're a homeowner, this begins with your mortgage.
It's time to take advantage of your rights.
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