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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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