By switching to a Bi-weekly mortgage payment service and see all the amazing benefits for which their is no cost to the homeowner what so ever. The software is FREE, and the service is FREE. All bi-weekly mortgage services use electronic transfers to make the bi-weekly mortgage debits from homeowners account. This is simply to provide convenience to the homeowner. Again, they are not going to from a habit of sending a check every two weeks so this makes it automatic for them. However, when we forward funds to the lender, they are forwarded in the from of a check. This is because electronic transfers do not allow the ability to transfer documentation with the funds. All this documentation is kept in our computers, meaning if funds were electronically transferred to the lender they would receive payments, but would not know who or which mortgage are being paid. The check allows us to send all the proper documentation with the payments - the owners name, property address, account number, fund allocation, etc. It also creates a paper trail, which will help if and when audit catches a lender error.
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