The Mortgage Minimizer is a powerful tracking and management system for monitoring and managing your real estate mortgage loan. Further, allowing you to optimize benefits (saving thousands of $$$ of potential interest & shorting the loan term), plus can minimize errors in the loan servicing process.
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Homeowners Edition: How does it work?
While many, hopefully, most potential & existing homeowners understand the basic concept of the amortized mortgage, thus they know that should they accelerate their principle payments they will save calculated interest.
More often those same homeowners do not know specifically 1) what the projected dollar amount saved will be, 2) the rate at which they save and 3) the payment term reduction that will occur. The Mortgage Minimizer does that and much more!
First, a homeowner can do a periodic “what if” scenario to illustrate the calculated savings that would occur should they make the specific pre-paid each and every month for the remaining term of their loan.
Second, homeowner by posting a payment each and every month (even posting $0 when no additional prepayment) can confirm and document the payment history.
Should the servicing of the loan be transferred or sold they will be able to confirm or document that the balance is correct. (It is represented that when errors do occur over 70% occur at the time of transfer.)
Further, correct a mis-applied posting of principle payments to an impound account, even when one does not exist.
Third, the program provides for the option, when posting, to vary the amount of any prepayment, while calculating the saving & term reduction instantly.
Finally, the program allows the homeowner to plan and position themselves to; first, increase their equity while saving interest and second, to develop the habit of applying more disposable income to their future goals of either “moving up” to their dream home or becoming “debt free”.
All of the above will enhance their financial mortgage knowledge and position them for a more beneficial financial future.
There is no cost to the Chamber of Commerce Member/homeowner as the Mortgage Minimizer is being presented as a ‘value-added service’ provided by your Chapter OR you may obtain it by requesting a "complimentary copy" on this website.