Get refund on your bank overcharges!
It's immoral to lose this much money from your bank account … and not even know it is gone.
Warning: 45% of home owners have been overcharged more than $1,500 by their lender.
Discover how to find errors in your bank accounts guaranteed.
If you want to find out how to stop the banks from taking advantage of you through errors and faulty systems, then keep your eyes glued to this page for the next 6 minutes; you are in for some shocking surprises.
Your lender may have already overcharged you many times this year without you even knowing it!
I don't know about you, but I work hard to pay off my mortgage as quickly as possible. Then to have the bank make mistakes and incorrectly take money from my account is not only unfair, but insulting.
I never considered it necessary to check the calculations on my bank statement. I didn't think there would be a need. I couldn't have been more wrong. Every day people are receiving bank statements in the mail for their mortgages, saving accounts, personal loans, overdrafts and business loans that they assume are correct, but they are totally mistaken.
Do you actually believe your bank or non-bank lender would never make a mistake on your account?
“We dug deeper and deeper and found that this system of overcharging
is virtually universal .....
It runs across the entire mortgage lending industry”
New York State Attorney General - Robert Adams
I can't believe how totally naive I had been, just accepting that the banks and other lenders never actually made a mistake and my statements were 100% accurate. Now surely these mistakes are just tiny errors involving a few cents here and there? Well guess again.
According to the Federal Deposit Insurance Corporation (the US government agency that insures or guarantees your bank deposits) mortgage errors are costing average Americans $8 to $10 billion dollars each and every year. (Please do not be fooled into believing this problem is limited to the United States, this problem is costing average home owners all around the world massive amounts of money every day, we will give you some examples below).
Yes you read that correctly it's ten billion dollars with a "B". I get lost working out exactly how many zeros to use on a number that huge $10,000,000,000. Wow! I find it amazing that the people who are supposed to be helping us purchase one of our most valuable assets, our family home, are getting it so incredibly wrong.
A danger with numbers this big is that they seem totally "unreal" or irrelevant and you can start to think "ten billion dollars is a whole heap of money and my mortgage is quite small compared to that. This problem can't possibly affect me in any real way". Many people just write it off as someone else's problem.
WARNING: This is not someone else's problem.....
"If you have a mortgage, there is a 50/50 chance that by fraud
or incompetence your bank is overcharging you”
New York State Attorney General - Robert Adams
A 50/50 chance, how scary is that! Personally I sure don't like those odds at all. I know there is no way known to man that I would cross the road with a 50/50 chance of survival, would you? I wouldn't think so, so why take the same chance with what is probably your most valuable asset.
Let's face it, would you do anything with a 50/50 chance of success...other than buy a lottery ticket?
So what does this all mean? What does it add up to? How much have I been overcharged? You do your own sums, but here is what the statistics (and the most conservative ones at that) had me thinking when I first discovered them ...
Annual overcharges: $8,000,000,000
Home owners with a mortgage: 39,000,000
Average annual error per mortgage: $205
This tells me that on average over the last 5 years the average home loan has been overcharged $1,025.00 Ouch!
Over the life of a 30 year mortgage at 5% p.a. that comes to a whopping $13,620
Staggering isn’t it? When I discovered the rate at which banks made mistakes I was stunned but assumed it must have just been a few dollars here and there; $205 dollars per mortgage per year is incredible.
Further government studies into mortgage 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 home mortgage escrow accounts violate federal law by holding excessive balances
Amazing isn't it, according to this government study 45% of people reading this page right now (I assume if you are still reading this page you must have a mortgage) are owed $1,500. Just over 1 in 10 people reading this page are owed over $10,000. Seven out of ten people have paid too much into their mortgage escrow accounts.
You will be in a truly remarkable group indeed if you are in fact NOT owed money on your home mortgage.
Is this problem limited to the USA?
Australia - A survey published in The Sydney Morning Herald has discovered that 54% of monthly statements contain errors, 80% of these errors favour the banks and the average monthly error is $242.
Canada - The Halifax Herald Limited reported that the Royal Bank is quietly sending out refunds totalling $13 million to 200,000 mortgage clients for miscalculated interest dating as far back as 1992.
United Kingdom - A Sunday Times survey suggested that mortgage interest overcharging was running at £1 billion a year.
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 any longer. You now have a way to keep the banks honest.
You now have a simple and powerful tool to check you bank statements quickly, easily and most importantly 100% accurately - it's The Interest Savers, Home Loan Checker.
Average homeowners around the world 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 then repaid anything from $400 to $100,000.
"It's a good time to pull out your original loan documents
and double-check the lenders 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
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. I suppose this is the ostrich approach, stick your head in the sand and hope it goes away. As you can see from the dollars involved this is potentially a very expensive option and could literally cost you thousands of hard earned dollars.
Option 2: Pay a bank statement checking company (like IRB mentioned above) 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 Option 1). The down side is that they charge a minimum of $200 to check for you and frequently a 20% "success fee" on the lender’s refund. So the costs you are looking at are $200 plus - $1,500 x 20% = $300 (20% of the refund due to 45% of people) Total Minimum Cost = $500.
Option 3: Ask the very people who got it wrong in the first place - your lender - 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 verified by an actuary (a mathematical genius) to check on the banks for you whose total cost is less than half the banks' hourly rate.
It is a bit of a "no brainer" isn't it? The Interest Savers, Home Loan Checker 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 but if you are 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 for a fraction of the cost? Not only has this software been checked and verified by an actuary but it has also been used in several court cases and in exposés about the banks on TV.
To order your copy of the Home Loan Checker go to http://www.accountinspector.com
Simple and easy to use.
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. Go to www.accountinspector.com to open a window to see just how easy it is. After receiving her software one of our clients recently wrote to us saying...
"....the program really is as easy as it looks. I did a trial with one month, typing in the information off our bank statement and was a bit surprised that even a dope like me worked it out as quickly as I did." Maree E.
The software can check all sorts of accounts for you, off-set accounts, lines of credit, variable rate home loans (ARM Loans), redraw facilities, any type of account no matter what fancy name your lender gives it. We are yet to find an account we cannot check.
“A mistake at the beginning could prove pretty expensive over the long term”
Paul Clitheroe - Host of Channel 9's Money show and chief commentator for Money magazine
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 realize however is that it is probably less than half the money you are actually entitled to.
In addition to the money incorrectly taken from your account interest has also been charged on this money - compounding each and every day for the last ten years. With the Mistake 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?" Perhaps, some people may be able to but firstly you must be sure you are using the correct formula and secondly it will not be "accepted" by your lender unless it is verified by an actuarial or major accounting firm (which costs around $20,000).
What is the point of finding the errors if you then can't get your money back? With the Home Loan Checker the calculations have been verified so you will get your money back. We have done all the hard work for you.
No other program we have tested can make this claim.
The Home Loan Checker has been rigorously checked by actuaries for mathematical accuracy. What on earth is an actuary? To put it simply an actuary is pretty much a mathematical genius. They are the people who work out for insurance companies how much they should charge for insurance policies and what their chances are of a claim being made. The equations they deal with every day are incredibly complex.
If one of these guys has checked it over then you know it is 100% accurate. As a result the banks have to take Home Loan Checker's results seriously; they have to accept the print-out which means you will get your money back.
We are yet to be informed of anyone who has used the Home Loan Checker to check their accounts and present their findings to the banks to have not received their money back.
You can see we are not talking some dinky piece of shareware here, over 300,000 copies of the software are being used today by people like you and me who want to keep an eye on their lenders and stop their money being drained from their accounts.
Also there are over 2,000 accounting firms which use the software (including all the world's largest firms) to check their clients accounts (and charge them to do so), if it is accurate enough for international accountants then you can know it will more than do the job for people like you and me. Clients already using the software include.....
Cash Converters Franchisees
Express Bookkeeping Franchisees
Farmers Financial Advisers
Jim's Mowing Franchisees
Motor Traders Associations
H & R Block Franchisees
Accounting Firms (inc. all the worlds largest)
Darrell Lea Franchisees
Real Estate Agents
As we said above the Home Loan Checker is only a fraction of the cost of the other alternatives. They are just too expensive to consider.
For 1 in 10 people to do nothing is not only crazy but could be costing you over $10,000.
For 45% of people to do nothing could cost you over $1,500.
To have a statement checking company do a "mortgage audit" will cost you $200 even before they start cashing in on YOUR refund.
Not only is the Home Loan Checker much cheaper than all these alternatives but you can keep using it year after year to get you back in control of your finances, giving you the peace of mind that you won't be taken advantage of ever again.
It is a very affordable $129 or $299 for the Business Deluxe.
Important Update: you made it here just in time to take advantage of an excellent opportunity. The recommended risk-free price of the Home Loan Checker is $129.00 but because the internet has reduced many of our costs, we're doing a test and passing our savings on to our internet customers (i.e. you). We are now offering the software for less than The Interest Savers themselves (they are still selling it for $129). This is part of a marketing test and we do not know how long we will be able to keep the price this low. If you haven't ordered your copy yet, please don't complain when we put the price up, we will keep it at this price for as long as we can.