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Alarming Mortgage Facts

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Homeowner:
Your Mortgage Could be Costing You a Fortune!


30 Year Mortgage Holders*:



You will spend over three times the amount of money you originally borrowed before you pay off your mortgage.


The time required to pay off half of what you borrowed is about 24 years.



During the first 15 years of your mortgage, less than 20% of your mortgage payment goes toward paying principal.

*Figures are based on minimum monthly payments made
on a $100,000, 10%, 30-year, fixed rate loan.


Adjustable Rate Mortgage
(ARM) Holders:


The Federal Deposit Insurance Corporation (FDIC) has estimated that nearly 1 out of every 2 mortgages has been miscalculated.
The FDIC estimates that miscalculations on ARMs are costing homeowners 8 to 10 Billion dollars.
An interest rate miscalculation or delayed application of payments made to your mortgage principal can be costing you money.

Homeowners, you could be overcharged by your bank
due to lender miscalculations.



The Price Mortgage Holders Pay
for Lender Miscalculations
Jane Bryant Quinn quoted statistics in The Washington Post which were provided by two independent ARM auditing companies.

The first company found that out of 9,000 ARMs checked during a single year, errors were found in half of them, and the average refund owed consumers was $1,588.
The second company found an error rate of 30% to 40%.

The article states, "...the odds are high that, somewhere along the line, an error was made in adjusting your payment.... This should alert other ARM holders to get their payments checked."


The Necessity of Annual Mortgage Audits
People who need annual mortgage audits include:
Holders of Adjustable Rate Mortgages,
Mortgage Holders whose mortgages have been sold, and
Mortgage holders who pay extra money toward principal.

You need to know that your lender is accurately applying your hard-earned dollars to your mortgage. You need that peace of mind .
But, how much will it cost?


Comparison of Mortgage Audit Costs

Candidates for Mortgage Audits, be aware:
Company Name Charge Per Audit Additional Services
Some Companies $69 None
Some Companies 35% of Overcharges* None
The Mortgage Medics Free,
Every Year**
All Services in Conversion Package
* plus $49, if bank documents are required
** The annual mortgage audit must be request to be received.


Featured Clients of
The Mortgage Medics:
   Save Time & Money on their Mortgages
   Receive Online Referral Commissions



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