I am an authorized distributor for some very special software that is given to homeowners FREE. All Bi-weekly mortgage service use electronic transfers to make the Bi-weekly mortgage debits from the homeowners account. This is simply to provide convenience to the homeowner. Again , they are not going to form 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 form of a check. This is because electronic transfers do not allow the ability to transfer documentation with the funds. All documentation is kept in our computers, meaning if funds were electronically transferred to the lender they would receive all these 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 homeowner's name, property address, account number, fund allocation, etc. It also creates a paper trail, which will help if and when an audit catches a lender error. This service and much more is FREE to the homeowners.
mortgagehelpersite.com
Comments(0)