| Over the life of a 30 year home loan compounding at 5% p.a. each and every day, that comes to a whopping $13,620 Ouch!
Let me clarify that further government studies into home loan overcharges have shown that...
- 45% of homeowners are due a refund in excess of $1,500
- 21% of refunds due range from $3,500 up to more than $10,000
- 13% of homeowners are due a refund of over $10,000
- 70% of existing escrow accounts violate federal law by holding excessive balances
This means every other person reading this page is owed $ 1500 AND over 1 in 10 reading this page are owed over $10,000… (Are you one of them?)
"It's a good time to pull out your original loan documents and double-check the lender’s adjustments.You might be surprised at the results."
Robert Chamness an official with the American Bar Association and partner in the San Francisco law firm McKenna, Conner & Cuneo as reported in
the Los Angeles Times |
Don't
get angry, get even...
get back what they
owe you.
There
is something you can do about this, you don't
have to be a helpless victim of the banking
system. Average homeowners around Australia
are getting their money back from the banks
every day. There are thousands of real life
examples of people who have been over charged
and been repaid anything from $400 to
$100,000.
"Thanks everyone. I've just found $1,100.00 over the
last 3 years owing to me from
my bank in overcharged interest on a
home and investment loan. They
were totally shocked with being
caught!"
Steve Atkin |
The
bad news is that knowledge is a dangerous
thing. Knowing what you now know, you have to
some extent cornered yourself into making an
important decision. You will decide one
way or another how you are going to deal with
it. Before leaving this page you will select
one of the following alternatives...even
if you think you haven't decided.
| Option
1: |
The
first alternative is to either
"think about it" or continue
doing nothing and have the banks take
advantage of you to the tune of
$200-500 a year on average. I suppose
this is the ostrich approach, stick
your head in the sand and hope it goes
away, good luck with this one, you're
going to need it. |
| Option
2: |
Pay
a bank statement checking company to check
for you. The interesting thing to note
about these companies existence is
that obviously bank errors occur often
enough for these guys to make a pretty
healthy full time income (keep that in
mind if you are leaning toward the
option above). The down side is that
they charge $200
to check your statements for you and a 20%
"success fee" on the
bank’s refund. So the costs you are
looking at are $200 plus
$1500x 20% = $300 (20%
of the refund) Total Cost = $500. |
| Option
3: |
Ask
the the very people who got it wrong
in the first place - the banks - to
check your statements for you.
Generally they charge $200/hour to do this for you. Ask yourself this
question, "why would I trust them
to get it right this time if they
couldn't before?" Isn't this a
bit like putting the fox in charge of
the hen house? |
| Option
4: |
Use
a dedicated piece of software using
the internationally accepted formula to
calculate your interest bill to check on the banks for you
.... for less than the banks' hourly rate. |
It
is a bit of a "no brainer" isn't it? The Loan Watchdog software is by
far the most cost-effective solution
available.
To do nothing is either
naive or nuts, as is paying the bank to check
your statements for you. Paying a firm to do
it for you isn't a bad option and if you’re one of the 13% of people who are owed over $10,000, this will cost you over $2,000 in fees.. Why not use
the same kind of software these firms use to
find banking errors every day for
a fraction of the cost?
To
order your copy of Loan Watchdog
now click here.
If you're wondering how difficult the program is
to use please read on.
The
software was made for non-computer users so it
is very easy to use. You just type in the
start and ending dates of your statements, the
interest rate (or several interest rates if
the rate changes during the month) and the
changes in the balance of the account and the
software does the rest. Click
here to open a window to see just how easy
it is.
"I would like to thank you for
such an easy software package
which is very user friendly"
Irene James |
The software can check all sorts of
accounts for you, off-set accounts, lines of
credit, variable home loans, any type of
account no matter what fancy name your lender
gives it. We are yet to find an account we
cannot check. Click
here for
a list of accounts the Loan Watchdog
software can
check.
“A
mistake at the beginning could prove pretty
expensive over the long term”
Paul
Clitheroe - Commentator for Money magazine
| "Fantastic software,
easy to understand and to use.
The software was well worth the
investment as I found the bank
has overcharged me about $1200 over two years".
Angelo L - Kilburn (SA) |
One
of the most powerful features of the software
is the Mistake Compounder. It is great to find a $300 error on
your statement from 10 years ago and even
better to get the money back. What
most people don't realise however is that it
is probably less than half the money you are
actually entitled to. In addition to
the money taken from your account interest
has also been charged on this money -
compounding every single day for the last
ten years. With the Error Compounder
you can now chase every cent you are entitled
to.
Now
I am sure you are probably thinking, "can't
I do the same with a spreadsheet?"
Yes, some people may be able to but firstly
you must be sure you are using the right
formula and secondly you will need to know how
to do some pretty complicated programming to
make sure it's accurate.
So even if you could do it, why waste the time
and effort when we have gone to all the
trouble for you?
I
just found the compounder and over 5
years the bank owes me nearly
$1,000.
The biggest error, found in the last
statement was $470 so I am very
happy. Have another 2 loans to enter
yet!
Jacqui Smith |
The Banks Want To Give
Your Money
Back.
We are frequently asked "will the banks
actually give me my money back?" The answer
is of course they will ... as long as you
can prove to them that they have made
a mistake.
The banks actually want to correct their
mistakes and give you your money back.
Recently Mr Haydn Park, the head of corporate relations of a major
Australian bank has said "When someone comes
to us and says ‘You’ve
done something wrong, then we don’t quibble,
we do something about it.".
But if you don't check your statements and
find the errors to show the banks where they
have gone wrong you will never know just how
much you have been overcharged.
No
other program we have tested can make this
claim.
 With your Loan Watchdog software not
only are you guaranteed to find errors in
your bank statements (see below for details)
but we also back this up with a "100%
accuracy guarantee".
The
Loan Watchdog software uses the
internationally accepted formula for the
calculation of bank interest. As
a result the banks have to take the results seriously; they have to
accept the print-out which means you will get
your money back. We don't just claim our software is accurate, we
GUARANTEE it. If you ever find errors in
our software we will refund your money in
full immediately no questions asked.
As
we said above the Loan Watchdog software is
only a fraction of the cost of the other
alternatives.
"I
used the Loan Watchdog software
to check 2 years of my loan and
found errors of $353.51 (and this
was on a very small loan of only
$50,000). I then used the built
in Mistake Compounder and I am
delighted to say that the bank has just deposited
$1,250.00 back into my account to
reimburse me for their error."
Jouko Hakola |
If you order Loan Watchdog online for just $149 , it’s yours, risk-free (see
details below) and we are throwing in seven exciting Free Bonuses.
Why
are we going to such great lengths?
We
designed this guarantee for the 99% of people
who are honest, but naturally cautious -- not
the 1% who'll take advantage of us. But more
importantly .....
We have
offered this Guarantee to over 10,500
customers and only 6 of them have had
error free statements.
That means
a tiny 0.057% our clients have had error
free statements ...
so why
would
you think you are not one of the 99.94% of
people
with
errors in your statements
right now, waiting to be found.
You can see that the chances of you having
error free statements are staggeringly slim
(in fact just a tiny fraction of one
percent). We want you to check your
statements and get your money back from the
banks, we don't want you to feel like you may
be out of pocket in any way. With this
guarantee either way you can't lose. If
by some chance there are no errors in your
bank statements then we are the ones who wear
the cost -- not you.
We
can afford to make this offer because the
chances of you not finding errors in
your bank statements is so incredibly small.
You could say that we are banking on the banks
to get it wrong!
By
ordering the software today only one of two
things can happen and both
of them result in you receiving a cheque.
-
Order
the software, find the errors and your
bank writes you a cheque
-
Order
the software find no errors and we will
write you a cheque,
either
way you win.
P.S. At this point after reading a typical offer,
you probably think to yourself "Do I really
want invest in this program?" We know how
you feel and that's exactly why we offer the
"$100 Success Guarantee".
Find errors in your bank statements or we
refund your money AND give you an additional
$100 for wasting your time.
You are in a
fantastic position, no matter what happens, as
a result of buying this software someone is
going to write you a cheque - either your bank
manager when you find the errors in your
statements or us if you don't.
P.P.S. If you don’t order the Loan Watchdog
right now, how will you know how
much your bank or lender is ripping you off?
99.94% of our clients have found errors in
their statements, what makes you think you
wont? How much will you find?
P.P.P.S.
Remember from this moment on in your life you
are going to spend money whether you like it
or not, it
is up to you to determine how much. To
do nothing and take your chances with the
banks may feel like you are not
spending money but we are quite literally
guaranteeing that you will lose money in
overcharges. Alternatively you can order
Loan Watchdog and start to get your money
back from the banks ASAP.
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