Lets Talk About The Word Mortgage - Nationwide Biweekly Administration

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Nationwide Biweekly Administration - Mortgage, a nasty word that all home owners hate to say and hear. An astronomically large loan from a bank that a person will spend thirty years of their life repaying. Sounds terrible right? However there are ways around having a completely negative look at mortgages and actually cheating the system. Little tricks from companies like Nationwide that offer bi-weekly payments is a huge advantage. Now bi-weekly payments are beneficial as it is, but they actually are used best and most effective when it comes to mortgages.

            So why are these bi weekly payments so beneficial to paying off your mortgage?The reason being is since a mortgage is a loan over a long period of time, there are tons of payments due. If you make payments every fourteen days instead of every thirty-one then your making thirteen more payments a year! Each extra payment you are making trims a little extra interest off because interest is a cumulative factor. This makes your total loan amount go down! After awhile all these extra payments and little bit of interest trims really start to add up! During a thirty year mortgage if a person continually makes bi-weekly payments instead of monthly they can pay off their mortgage a whole six to eight years faster! Thats almost like cutting off 1/3 of your loan! Since it is paid off in less time, there is less money paid in interest. This means it cuts down the total amount of money you pay, interest and principal. Not only is this saving you an astronomical amount of money but bi-weekly payments coincide with most peoples pay check schedules. This makes it possible to have a continual flow of money to paying off your mortgage. This way you are less likely to fall behind in your mortgage and the best part is even if you do miss a payment you can make it up since your using bi-weekly payments. The reason is because paying every fourteen days instead of thirty-one it cuts your bill size in half. That way if you miss one payment, the penalty isn't as harsh and hopefully by the time the next payment is a due, there will have been ample time for the person to recover. Now I know this seems like a small thing but it really isn't. Falling behind in mortgages is a huge problem and even recently caused the largest economic downturn we’ve seen in decades!

            As you can see when it comes to paying off a mortgage, using bi-weekly payments is definitely the strategy to use! In a mortgage most of the monthly payments go to interest and thats where the costs really start to build up! With bi-weekly payments this eliminates a lot of those costs and cuts down the amount of time it takes you to pay back the loan. With all of these benefits, its pretty simple to see why bi weekly payments is the best strategy to use!

Nationwide Biweekly Administration

Question Of The Day | Are Nationwide Biweekly Administration Plans Legit Or A Scam?

Today’s post is an explanation of articles you may have seen or run into when you do a search on Nationwide Biweekly Administration. It is amazing how a hand full of people, who have not fully researched a company, can post a blog on the internet and misrepresent them. I find these articles to be as believable as the national enquire and have very little solid information to back them up. With this said I have “legit” research to back up everything that has been said (see below) and to prove that Nationwide Biweekly Administration is NOT A SCAM.

First point I want to go over is the way NBA may market to potential customers. Some of you may have received a letter with the name of your lender on top that explains how Nationwide Biweekly Administration can save you money on your mortgage with their interest minimizer program. This letter is not intended to “trick you”. The reason why your lender is on the top of the page simply shows you that NBA administers the program to your lender as well as over 5,000 other lenders. If you so choose to call you will be connected to their customer service departments which can run a savings analysis report on your mortgage or any other type of loan you are trying to pay off early.

The second point I want to make is the trust issue with NBA. If there is any biweekly program company that you can trust with making sure your payment is applied properly and on time, it has to be NBA. Why do I say that? Well first they are one of the nation’s largest and most recognized independent processors. They are fully licensed, bonded, and registered with FinCEN – the Financial Crimes Enforcement Network – as a Money Services Business. On top of that they are also listed with Dunn & Bradstreet and the Better Business Bureau.  But what I really find interesting is they are the only biweekly company that has been independently audited by the C.P.A. Firm of Flagel, Huber, Flagel, & Company. As you can see in this video they earned a Gold Seal of Approval documenting that their savings estimates are accurate, funds are protected by FDIC Insured Banks, client’s funds are being remitted to lenders accurately and timely, and their program operates as indicated in contracts. To top off any more trust issues you may have, their corporate office is located in the State of Ohio and is audited annually by the State to ensure strict compliance to all State and Federal Regulations.  All payments are securely processed through the Federal ACH Banking System, and enjoy protection under Regulation “E” of the Federal Reserve.  Under Regulation “E,” funds debited from your account are protected against fraud or loss for a period of 60 days from the drafting date. You are completely protected & have nothing to worry about with Nationwide Biweekly Administration.

My last point that will be covered pertains to the articles on how biweekly programs are nothing but a scam or something that you shouldn’t need to pay someone to do because you can do it yourself. For the sake of these articles I am going to sum it up for you and assure you that biweekly programs are NOT a scam. You see, in a perfect little world we would do everything ourselves. In the morning we could jump right of bed into our workout clothes and hit the weights for 30 minutes. Then we could hurry up and cut the grass before heading into work. During lunch we could rush home and change our oil. Then once the work day is finished we could clean the pool out and maybe even give the dog a bath and a quick trim. Sounds ridiculous doesn’t it? It’s a good thing that we have people that can actually help provide us with convenience, discipline, and structure so we can stay on track and not have to do everything on our own.  This is how I see what a biweekly program can do. Of course this is something that every one of us can do. How simple can it be to make an extra payment a year? Well I guess not that simple since less than 1% of Americans prepay their mortgages every year. Lets be honest, if anyone of us had extra money that equaled our mortgage payment I doubt that making an extra payment towards it would be the first thing on your list. So if you think that Nationwide Biweekly Administration is a scam then so is your personal trainer, lawn cutting service, guy that changes your oil, pool boy, and dog groomer. These are all helpful services that are provided for those who want them. If you would like to talk about scams go ahead and check how much interest you will be paying your bank once you pay off your loan. I guarantee you will be giving them thousands of dollars more then you would ever give a company that provides a biweekly program.

I hope this sums up some of the articles you may have read and would love to see some POSITIVE comments on how using a biweekly program has help you out.  Nationwide Biweekly Administration

 

 

Nationwide Biweekly Administration 2011 Withdrawal Calendar

Nationwide_Biweekly_Administration_2011_Withdrawal_Calendar.pdf Download this file

Nationwide Biweekly Administration Audit Report Findings

Nationwide_Biweekly_AdministrationReport.pdf Download this file

Nationwide Biweekly Administration

Clearing The Clutter From Your Life! | Nationwide Biweekly Administration

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Nationwide Biweekly Administration savings tips.

Look around your house. Chances are there are areas of clutter than you can reduce. But before you head off to the Salvation Army to donate it, consider selling it instead. From Garage Sales to Craigslist to EBay, Etsy and beyond, there are ways to make a few bucks off the stuff you simply don’t want anymore.

Garage sales are pretty easy and can encompass everything from that ratty couch you’ve had since college to art, music, clothing and beyond. You might want to check out neighborhood Garage sales before having one of your own. After all, it would stink to find out you charged $5 for something but a garage sale down the street had no problems unloading the same item for $15.  It comes down to knowing your neighborhood’s demographic. Lots of recent college grads or artistic types? Keep the prices low. Young-ish urban professionals as neighbors, raise the price just a bit. Be sure to advertise by putting flyers on light poles and near intersections. If you live in a neighborhood of apartment buildings, see if you can post a flyer in their lobbies.

Not sure those early morning all day sitting on the sidewalk with all the stuff you don’t want garage sales are for you? Well thanks to a rather ingenious guy named Craig, you have options. Craigslist is ubiquitous with garage sales these days, only this garage sale is completely virtual.  Chances are if you’re searching for something – say, 6 foot fake Christmas tree – you will find in on craigslist. I knew someone who purchased big rubber bins for moving at Target. Once they were unpacked, they were listed on craigslist (for slightly more than she’d paid for them even!) and within 90 minutes, they had been picked up and cool hard cash lined the wallet of the seller.  Craigslist is free to post.

Sitting on something you don’t want that is vintage, unique, or collectible? Take it to EBay and list it in the appropriate categories. Designer clothing, shoes, handbags, jewelry, sports memorabilia, watches, vintage lunchboxes. If you can think of a product, someone is selling it on EBay.  And in the best case scenario, a bidding war might break out over your Partridge Family Thermos from your old lunchbox and you might find yourself reaping a bit of a windfall!  Nationwide Biweekly Administration. 

If you’re a crafty type or have a bunch of vintage clothing, jewelry, handbags and shoes, Etsy is a good resource. This online craft-market allows users to create their own stores and set the price for their goods.

By using one, all or some combination of these tips, you’ll soon find yourself free of clutter and flush with cash.  Nationwide Biweekly Administration

Springing Into Savings Action - Tips By Nationwide Biweekly Administration

Nationwide Biweekly Administration Tips - Spring has sprung and people across the country are starting to think about one thing: vacation. The tradition of the annual summer vacation is as American as Apple Pie, Baseball, and Golden Retrievers. However, we’re living in somewhat shaky economic times and you may not have $5,000 to throw down for a family cruise to the Caribbean. Let’s take a look at some ways to save money for vacation.

 

Take a look around the house. What can you live without? Satellite TV? A big family plan on your cell phones? High Speed Internet at home? A Gym Membership you don’t, or rarely, use? Monthly expenses such as utilities, satellite or cable television and cell phone bills can be the thing that makes or breaks a family’s budget. Do you have both a home phone and a cell phone? Is there a specific reason you need both? If not you can cut out your traditional landlines completely and just exist with a cell phone.

Nationwide Biweekly Administration Tips

Speaking of that cell phone – how many minutes do you use? Is there a way for you to cut back on your monthly plan to save a little money? Consider switching to a pre-paid cell phone provider and experience a cheaper bill and the freedom of not being beholden to a set in stone contract from one of the major cell phone providers.

Another big monthly expense is television. How do you get your broadcast – from a cable provider or satellite provider? Have you explored the alternatives? Sometimes you can cut close to $100 a month from your budget by changing providers.

Internet can be another big ticket item. Cable modems are expensive if not “bundled” together with cable service. DSL’s are relatively inexpensive, but also notoriously prone to outages. Look into lower cost alternatives in your neighborhood. In some places everything from free neighborhood wifi to cell phone tethering is available for your Internet use.  Nationwide Biweekly Administration

Finally, few amongst us have not been, at one time or another, paying for a gym membership that we do not use. Whether you’re monthly dues are $19 or $190, if you are not going to the gym on a regular basis, you are basically throwing this money away each month. Even if you do go to the gym regularly, you may be able to trade the gym for the outdoors and save that money anyway. Running, jogging or power walking down a city street or country road is free.

By taking a few, or all, of these steps, and putting the money you’ve saved into a vacation account, you’ll be packing your swimsuits and sunscreen and heading off for some fun in no time at all. Nationwide Biweekly Administration

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Is Nationwide Biweekly Administration A Scam?

Nationwide Biweekly Administration:

Many people are interested in saving money by manking biweekly mortgage payments, but have you been one of those people that thinks Nationwide Biweekly Administration is a scam?  Lets take a look and get a better understanding of how the Interest Minimizer plan works for you and how your biweekly payments are processed.

The interest minimizer from Nationwide Biweekly Administration debits your bi-weekly amount from your checking or savings account then remits payments bi-weekly or makes your monthly loan payment when it's due. Because there are 52 weeks in a year, that adds up to 26 bi-weekly debits which equals 13 monthly payments over the course of a year. The extra funds are directed 100% to the principal of the loan eliminating thousands of dollars in interest charges, cutting years off the loan and dramatically increasing your home equity.

We are the only administrator that remits payments bi-weekly for almost all types of loans and debts except mortgages. Based on the rules and restrictions set up by lending institutions, interest minimizer payments are processed in two different ways depending on the type of loan. As you will see in this example mortgage payments must be handled differently than bank payments. Loans such as home equity, personal loans, auto loans, credit cards, and student loans can be remitted bi-weekly and interest minimizer that is exactly what we do. With these types of debts, interest is calculated daily. Let's take a look at a sample savings of a $50,000.00 loan at 6% interest. With a $300 monthly payment or $150 every two weeks with out bi-weekly program your loan will be reduced from 30 years to 24.3 years and you will achieve interest savings of $12,282.00. For loans like mortgages, interest is calculated monthly, so we must remit monthly. Again, based on the lenders own processing restrictions that same example of a $50,000.00 at a 6% interest, with a $300 monthly payment or $150 every two weeks, this would reduce the loan from 30 years to 24.6 years achieving interest savings of $11,697.00. As you can see there was very little difference. Only $585.00 and a 3 month paid off difference, when we are forced by lender rules to remit monthly. But the great news for you is that the interest minimizer bi-weekly program works in your favor regardless of whether we remit payments bi-weekly or monthly. The interest minimizer program is easy, provides structure, and gives you the ability to save thousands of dollars in interest while building your equity much faster.

FAQ for Nationwide Biweekly Administration

Does my lender offer this program?
* A small percentage of lenders offer a bi-weekly program
* They can't offer the services on multiple types of loans
* Only on the loan you have with them
* We can administer all your loans in one easy place
* We work for you- not the lender!

Will my loan change id I sign up for the Interest Minimizer?
*Your loan doesn't change at all
* Your lender, interest rate, escrow-all stay the same!
* What if I sell my home or refinance?
* No problem!
* We handle all the changes for you
* Simply call our Customer Service Department or Email Us
* We administer to over 5,000 lenders
* No additional charge, unlimited benefit

Is there a limit to the number of loans I can put on the Interest Minimizer?
* There is no limit
* You can enroll as many loans as you want
* The more you enroll during the initial sign up the more you save!

Is there a penalty if I stop the program?
* Stop at any time
* No Penalty
* Restart at any time with no penalty
* You have a lifetime membership

Am I guaranteed to save money with Nationwide Biweekly Administration?
* 100% Savings Guarantee

Can I achieve the same results without the Interest Minimizer?
* You can try, but most find it too difficult
* Interest Minimizer is easier safer and more successful
* Provides a disciplines structure that's easy to stick with
* Very small percentage of home owners continue to prepay their mortgage at Interest Minimizer rates
* Interest minimizer survey results
* 80% made no extra payments
* 100 said it was a mistake to cancel
* The majority re-enrolled