The answer is, you can never be really sure. There have been thousands of instances where banking errors have cost borrowers hundreds and even thousands of dollars over a long period.like as ss.scripts-to-sell.com.One recent case saw a borrower overcharged $14,000! If the mistake had not been uncovered the banks could have pocketed in excess of $100,000 in over charges.
When you think about it you realize that just a small mistake made in the calculation of interest each and every month can soon add up to a very tidy sum.
The question that has to be asked however is this. If a bank can make a mistake in one account is it possible they can make a mistake in every account? The answer is yes and it might just be your loan and it might be costing you thousands.
Compounded interest calculations only have to be quite small in terms of monthly amounts to slowly accrue into significant amounts of money. Money that should be in your pocket and not the banks.
But what can you do about it? The answer is not so straightforward. You see, it takes sophisticated time based calculations to work out the accuracy of interest charged in a home loan account. It would take a long time and are very dedicated borrower to sit down every six months when the home loan statements arrive and do the tedious calculations necessary to check the accuracy of the bank's statement.
Fortunately there is software available that can assist you in this process. It's the sort of software that makes the checking process very simple and what's more, it can save you thousands of dollars as mentioned previously.for more details www.software-index-website.com.Ask yourself the question can I afford not to check? I think you will already have guessed the answer. If the software costs something like $250 and you can save $4000 or $5000, it's a no-brainer!
There is one other complicating factor however, there are several products on the market claiming to do the same thing; so how do you choose? You need to read reviews of the software packages before you make your decision so you don't waste your money. Here are some tips on how to choose:
? Make sure there is a money back guarantee.
? Look for promotions that offer you extras for your money.
? Read all the testimonials to see what other users have found.
? See if there are any television or media reports on the software before you purchase.
If you take enough care at the outset and look for the key points mentioned in this article you have a much better chance of utilizing mortgage watchdog software that will really pay dividends for you.
