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FREQUENTLY ASKED QUESTIONS
Q: What kind of people will be managing my mortgage?
A: The owner of this website website is an authorized distributor for Mortgage ManagerTM software, which was developed by Information Brokerage Services Inc, and its predecessors have been in business providing biweekly mortgage service since 1989. In 1995, IBS developed the Mortgage Manager software program making it possible to provide the biweekly service at no cost to the homeowner. IBS is listed with Dun & Bradstreet and their D&B number is 79-922-3433. IBS is also members of several business organizations in Kansas. In fact, the Executive Vice Presiden of the Mortgage Management Division of IBS Inc. has recieved national honors for his work with homeowners just like yourself. This software program has helped thousands of homeowners just like you save $50,000 to $150,000 and more. Rest assured, you'll have certified traned mortgage reduction experts managing your mortgage and they are just a phone call away to answer any of your questions.
Q: How long am I commited to your service?
A: Using the Mortgage Manager Savings Program, even on a trial basis, commits you in no way. Our service is free so trying it costs you nothing. With our service, your biweekly mortgage payments are fully protected and regulated by the Federal Reserve so you funds are completely safe at all times. If you're unhappy, you can cancel at any time without any obligation whatsoever. However, our past expericence tells us you'll enjoy the service and the savings so much you'll be telling your friends and relatives about it.
Q: How is My Morgage Payment Protected With Your Service?
A: We all work hard for our money and we want assurance that it's fully protected. With our biweekly mortgage service, your funds are fully protected, insured, and are at absolutley no risk whatsoever. All biweekly mortgage service is done electronically and governed by Regulation "E" of the Federal Reserve System. 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 bank or Federal Reserve location.
Your biweekly mortgage payments are also protected by various safe guards to eliminate such illegal activities as embezzlement. Every IBS company employee is covered under a self-insured "employee dishonesty bond" protecting every one of your mortgage payments up to $10,000. Our free software also allows you to track and audit your mortgage payoff and savings every step of the way by using a special code number IBS sends you after a minimum of six months on the service.
Q: How are you able to offer this service for free?
A: The Mortgage Manager Savings Program competes with over 600 banks and other private companies who offer biweekly mortgage service. The ALL charge a fee ranging from $395 to over $1000. IBS could do the same, but homeowners who are jsut getting by, and who need this service the most, have a hard time paying a few hundred dollars even when it's going to save them thousands of dollars. Volume is how IBS is able to still generate revenues without charging the homeowner. The Mortgage Manager Savings Program is the most poplular and efficient mortgage reduction system in use today. IBS is paid interest in exchange for managing millions of dollars in biweekly mortgage service. IBS's profits don't come out of your pocket like they do with their competitors. IBS is the only company in Amercia who offers the biweekly mortage service free.
You will notice a small banking service fee to process your electronic transfers. This is something IBS does not have any control over or profits from. This fee can be compared to FREE cellular phone calls on evenings and weekends. You still pay 3 to 5 cents per minuted which pay for taxes and other things the phone companies have no control over. This fee exists with all biweekly mortgage service. Actually, you are already payhing this small service fee, plus a whole lot more, in lost savings each and every month to your lender.
Q: Can I do the same thing without your services?
A: 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 aren't good odds to gamble with on what will most likely be the biggest investment of your life. Plus, when you statrt 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 ammortization, interest compunding, index and margin calculations, etc. Our FREE service includes AUDITING your mortgage to track your savings and catch possible lender mistakes.
Q: I contacted my mortgage lender and they said they would not accept electronic biweekly payments, so how can you do it?
A: Your mortgage doesn't actually change to a biweekly mortgage because that would require refinancing, and cost several thousand dollars. Rather than the homeowner budgeting a full payment once per month, they'll budget a half payment every two weeks. IBS restructures your mortgage onto a biweekly "schedule" through electronic transfers to give you the same savings and benefits of paying your mortage biweekly wihtout 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 from IBS 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.
Q: I am on a tight budget, can I still enjoy these savings?
A: Absolutely. In fact, you'll 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 you'll enjoy make it well 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. If your budget is so tight that you commonly mail checks before you have the 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.
Q: What effect will your service have on my ability to deduct interest payments on my taxes?
A: Many people are led to believe it's bad to pay off their home early because they will lose the tax write-off. This couldn't be further from the truth. In reality, it gives you added income. For example, if you're in a 25% tax bracket and you write-off $10,000 in home interest payments, you save $2,500 off you're taxes. That's a $10,000 expenditure to save $2,500. On the other hand, if you owned your home and didn't pay $10,000 in interest payments, you would have to pay $2,500 in taxes on this money, but you end up with $7,500 in spendable income. It's a fact that most Americans sell their homes after about 7 years. It's also a fact that you can make nonthly mortgage payments for 7 years and still not have enough equity in your home to pay a Realtor to sell it. By tripling the accumulation of home equity, you'll have additional money at your disposal to pay for education, vacations, a new car or boat, retirement, etc. You'll be able to deduct those interest payments where you normally wouldn't 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.
Q: What if I live outside the USA, can I still save money using Mortgage ManagerTM?
A: Unfortunately, the Mortgage ManagerTM software can only be used on mortgages in the USA. Because of the difficulties and regulations with currency exchange rates, use of the software on mortgages outside of the USA is not practical. But, the good news is that we can still help save many Americans a boatload of money!
If you have any more questions, call IBS at 913-402-9412 in order to resolve the issue. The owner of this site is an authorized distributor (ID# MM-91038) for the Mortgage ManagerTM software, for any questions about the site email us at admin@debtslicer.com
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