The
Mortgage Watchdog Pro 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.
How can I get my money back from
the banks?
The software comes with "fill-in-the-blanks" letter for you to complete and
send to your bank along with copies of your statements and a
print out from the software showing how the interest should have
been calculated. The Banks want to give you your money back, the
head of corporate relations of a major 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.".
How many bank accounts will the
program handle?
As many as your hard disk can
hold. It has been designed to allow Accountants in Practice to
store all of their clients' records. i.e. thousands of accounts.
Will the program handle all
types of home loan accounts?
With the hundreds of home loan "products" on the market we are yet to find a loan
type what the program could not handle. From our main page click
on the ACCOUNTS button for more details.
How many years may I
check?
For as many years as you have the
records. If you find an error in and old statement don't forget
to use the mistake compounder to get back every cent you are
owed. The compounding affect of the interest on the error can be
very significant over time and even at a low interest rate the
error could double or triple in size.
I have checked two years worth
of statements and not found an error. Can I assume all my statements
will be clean?
Definitely not. You may even
check 3 years worth of statements and find no errors and then
suddenly you will start to find them. Some errors are computing
errors and occur consistently and others are human error and
only occur sporadically.
The chances of your statements being error free is quite remote
but if you are concerned check out our Success Guarantee on the
home page.
What if interest rates etc.
change during the month?
Not a problem the option is
available to enter interest rate changes and the effective date
of the change. It is during these times that it is double
important to check your statements for errors.
Will it handle leap years?
Yes! You may find that the banks
have not given you the benefit of Leap Years.
Do I have to enter all
transactions?
No! You enter only need enter the
daily balances where a change has occurred.
I have heard of firms that
provide a similar service.
There are several firms that
provide this service. They charge around $55 per monthly
statement to check for you and a 20% "success fee" on
the bank’s refund. So the costs you are looking at are $55 x
12 = $660 plus the "success fee".
Is it easy to use?
Yes! There are just four simple
steps to go through to check your statements. It should only take the average person about an
hour to check a years worth of statements.
Will It Run On Apple Mac?
It will run on a Mac if you are
using a PC emulation program such as Virtual PC.
How is the program delivered?
You will have immediate access to
a download version of the software so you can begin checking
your statements immediately. The download
is approximately 9 Megabytes. To download this will take
approximately 2 minutes if you are on Broadband or 20 minutes if
you have a Dial Up connection.
How long does delivery take?
Your access to the digital
download is immediate.
"The request was
prompted by reports that the Federal Deposit Insurance
Corporation would refund several million dollars to borrowers
overcharged on loans at savings institutions." NY
Times 