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| FAQ |
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| 1. WHO IS THE INFORMATION BROKERAGE SYSTEMS? AND WHO WILL BE MANAGING MY MORTGAGE? Information brokerage Systems has been in business providing biweekly mortgage service since 1989. In 1995, we developed the Mortgage Manager tm software program making it possible to provide our biweekly mortgage service at no cost to the homeowner. Our lexena business number is 1001 1767. Our Dun and Bradstreet number is 79-922-3433. We're also members of several business organizations in Kansas including the Shawnee Chamber of Commerce. Executive Vice President Michael Edgecomb has received national honors for his work with homeowners just like you, heads the Mortgage management Division of IBS. These honors include being featured in "Who's Who Amoung Outstanding Americans", "International Leaders In Achievement" and the 1996 edition of "500 Leaders of Influence", which are on permanent display at the library of Congress in Washington, D.C. The International Biographical Institute has awarded him "Man of the Year" for 1995-96 for his developement and production of this software - The Mortgage manager tm. This software program has helped thousands of homeowners just like you save $50,000 to $150,000 and more, eliminate years of mortgage payments, and avoid costly lender miscalculations. You'll have certified trained mortgage reduction experts managing your mortgage and they are just a phone call away to answer any of your questions. WE DO NOT CHANGE YOUR LENDER NOR DO WE BUY YOUR MORTGAGE OR TAKE IT OVER, WE SIMPLY SERVICE YOUR EXSISTING LOAN WITH YOUR LENDER SO THAT YOU CAN RECEIVE THE BENEFITS WITHOUT INCURRING ANY REFINANCING OR OTHER COSTS. 2. HOW LONG AM I COMMITTED TO YOUR SERVICE? WHAT IF I DECIDE TO TRY IT, BUT LATER CHANGE MY MIND? Using the Mortgage Manager even on a trial basis, commits you in no way. Our service is free so trying it costs you nothing. If you're unhappy, you can cancel at any time without any obligation whatsoever. However, our past experience tells us you will enjoy the service and the savings so much that you'll be telling your friends and relatives about it. 3. HOW IS MY MORTGAGE PROTECTED WITH YOUR SERVICE? We all work hard for our money and we want assurances that it's fully protected. With our biweekly mortgage service your funds are fully protected, insured, and are at absolutely no risk whatsoever. All biweekly mortgage service is done electronically and governed by Regulation "E" of the Federal Reserve System. Regulation "E" is a consumer protection law, which regulates the transfer of your funds. n it's simplest form, 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 local bank or Federal Reserve location. Various safeguards to eliminate such illegal activities suchas embezzlement will protect yur biweekly mortgage payments. Any fund transfer over $1,000 has to be approved by an officer of the company and NO fund transfer can exceed the maximum amount of any single mortgage we service. 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 we send to you after a minimum of six months on our service. 4. I THINK I'VE HEARD OF THIS SERVICE BEFORE, BUT IT WAS NEVER FREE. HOW CAN YOU PROVIDE SO MUCH AT NO COST? The Mortgage Manager competes with over 600 banks and other private lending institutions who offer biweekly mortgage services. They ALL charge a fee ranging from $395.00 to over $1,000. We could easily do the same, but homeowners who are just 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. When we developed the Mortgage Manager, we searched for a way to eliminate the cost and provide the service free to the homeowner. Volume is how we are able to generate revenues without charging the homeowner. The Mortgage Manager is the most popular and efficient mortgage reduction system in use today. We're paid interest in exchange for managing millions of dollars in biweekly mortgage service. Every company has to generate revenue in order to service their customers and stay in business; however our earnings don't come out of your pocket like they do with our competition. We are te only company in America who offers the biweekly mortgage service FREE! 5. CAN I DO THE SAME THING MYSELF WITHOUT YOUR SERVICE? You can payoff 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 start making these increased monthly payments, thats where a lot of mistakes indicated by the F.D.I.C. occur. The 3% of Americans 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 amortization, interest compounding, index and margin calculations, etc. Our free service includes AUDITING your mortgage to track your savings and catch possible lender mistakes. To have an outside company audit your mortgage can cost $100 to $150 per year and is critical since the F.D.I.C. estimates errors occur in every other mortgage with the average mistake costing the homeowner over $1,500.00. Below is an article that emphasizes the seriousness of this fact: ATTORNEY GENERAL OF NEW YORK - After ordering the nations largest mortgage lender to refund $150 million dollars in overcharges; 'We dug deeper and deeper and found this system of overcharging is virtually universal. It runs across the entire mortgage lending industry.' THE HERALD - 'Lender holds principle payments; About four months ago my wife and I decided to start making extra payments on our mortgage. We were shocked when we realized the lender held these checks more than 60 days before applying them to our loan. 6. I CONTACTED MY MORTGAGE LENDER AND THEY SAID THEY WOULD NOT EXCEPT ELECTRONIC BIWEEKLY MORTGAGE PAYMENTS, SO HOW CAN YOU DO IT? Your mortgage doesn't actually change to a biweekly mortgage because that would require refinancing (which involves new appraisals, surveys, inspections, titles verfication, financial statements, etc.) at a cost of several thousand dollars. Rather than the homeowner budgeting a full payment once per month, they budget half a payment every two weeks. We restructure your mortgage into a biweekly "schedule" through electronic transfers to give you the same savings and benefits of paying your mortgage biweekly without the cost of refinancing or changing your exsisting mortgage agreement with your lender. This reduces your loan amount much quicker than a "monthly schedual" and builds your home equity 300% faster. Funds are forwarded in the form of a check that is verified each month. This creats no problems with your lender and also provides a paper trail which can be used in case of a lender miscalculation. 7. WHAT EFFECT WILL YOUR SERVICE HAVE ON MY ABILITY TO DEDUCT INTEREST PAYMENTS ON MY TAXES? Many people are led to believe it is 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 an 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 your taxes. Thats a $10,000 expentiture 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 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 these interest payments wher you normally wouldn'y be able to if you took out a seperate 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 transfering this equity into a more expensive home if you desire. |
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