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Current Shareware 1994 January
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SHAR194.ISO
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bimort.zip
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HOW.TXT
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1993-09-22
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HOW THE PROGRAM WORKS
Instead of sending a mortgage payment to the
lender once a month, a homeowner enrolled on the equity
acceleration program pays one half of the monthly
payment every 2 weeks.
A $1,000 monthly payment is split in half. The
homeowner pays the $500 halved payment every 2 weeks
(biweekly). On the biweekly program, an extra 2
biweekly payments accrue each year.
Every 6 months, that $500 is applied to the most
recent principal balance due...accelerating the loan
payoff and tripling equity growth. On the accelerated
program, 30 year loans can pay off in less than 20
years.
Can't homeowners prepay?
Homeowners are given almost no information on how
to prepay their mortgage. Lenders won't help, because
by doing so, it increases their processing costs to
service the loan. But the real problem today facing
anyone wanting to prepay their mortgage is the
information recently released by the U.S. Government's
General Accounting Office and the FDIC.
Reports of bank errors
They reported that adjustable rate mortgage (ARM)
payments now contain errors costing Americans at least
$8 billion dollars each year! That figure may become
$60 billion by 1996! Now lenders and banks are coming
under fire for making errors in crediting prepayments
which can cost homeowners thousands!
It's no wonder homeowners don't prepay. 94% of
Americans don't understand amortized loans or
compounded interest, let alone index and margin figures
banks use to compute payment adjustments on ARM
mortgages.
Perhaps now you can understand why more than 9 out
of 10 mortgages are never prepaid. And why the equity
acceleration program is selling so well in today's
economy because homeowners know it is the best system.
Audits included
Homeowners will instantly see one feature in the
equity acceleration program they want. That feature is
mortgage auditing. Why is auditing so very important?
Auditing ensures interest savings and prevents
lender and bank overcharges. People want to get ahead
financially but realize that special skills are
required for loan auditing.
Accountants charge too much and they don't have
the software. By enrolling in the equity acceleration
program, homeowners can prepay their loan and have the
protection they need because it includes free auditing.
Just one mistake by a lender could easily cost more
than the whole program.
87% of Americans retire poor!
U.S. Government statistics show that 87% of
Americans retire in the poverty bracket with an income
of less than $830 per month!
People who can't seem to save enough for
retirement are the same ones that unknowingly throw
away tens of thousands of dollars in interest to their
lender. But as a mortgage reduction agent, you'll be
able to provide an affordable solution to this serious
problem.