- Rexilla99Member@rexilla99Join Date: 2003Post Count: 39
Did a search on this topic but didnt find enough feedback.
Would like to know if the program is worth the money and if you do not find any errors will the company refund you the money?
any info about the software would be great.Rexilla99Member@rexilla99Join Date: 2003Post Count: 39az_alwayzParticipant@az_alwayzJoin Date: 2004Post Count: 3
I dont keep up with this site as much as i’d like to and unfortunately I can’t really help you with your query. I am however in the same position! I have come across the mortgage watchdog site a couple of times already and have forgotten about it shortly after each time. My wife and I have only nearly had our offset loan for a year but I’d love to start correcting the banks errors early on!
If you find anything more or anyone who knows more about it please feel free to email me! [email protected]
Azaz_alwayzParticipant@az_alwayzJoin Date: 2004Post Count: 3
Done a bit of searching and didn’t come up with much either in regards to reviews. The guarantee is for a loan with at least four years history which won’t help me yet! And there’s a couple of trial downloads you can try but they don’t let you do much.
CyaMartyJMember@martyjJoin Date: 2006Post Count: 5
From a previous post:
I downloaded the free trial of the watchdog once, but got really bored of typing in statements. It’s also a very basic software package. Common opinion (on forums) is that the software isn’t worth it. Other complaints include that the trial is crippled so you can’t really test it with your mortgage (interest rate is fixed) [grrr].
If you want to check your statement I’ve been using the mortgage checker Home Loan Interest Manager Pro (http://www.homemoneymanager.com/home-loan-interest-manager.html)
from http://www.homemoneymanager.com as it lets your load all your statements electronically, and provides you with a whole lot more reports on your mortgage [thumbsupanim].
Works with offset accounts, and the free trial isn’t crippled so you can start checking your mortgage statements straight away…[specool]
Otherwise a quick search for “Mortgage Audit Software” will help you.
MartyCelineMParticipant@celinemJoin Date: 2007Post Count: 1
Thanks for the tip Marty, I downloaded home loan interest manager pro. Great software – managed to check all my statements and luckily no errors found.
I was reading through http://www.homemoneymanager.com and found a 50% discount code from a sale they had last year. I just used it when I bought my copy, thinking they probably wouldn't let me have the discount.
And here is what they emailed me:
"… congratulations on using the 50% discount coupon LOAN-CHECKER. We originally set this up as part of a promotion last year, however we re-instated it earlier this year as quite a few people missed out.
For now the discount code remains active, so if you know of anyone else who wants to take advantage of it, please feel free to tell them. However the sooner they use it the better, as unfortunately we may be disabling it again in the near future. "
So if you were looking to buy home loan interest manager pro, worth seeing if the code still works for you
CelineshipwreckMember@shipwreckJoin Date: 2008Post Count: 2mathewc73Participant@mathewc73Join Date: 2005Post Count: 241
I purchased the software when the hype was made about it on ACA. I was hoping it made it easy to load up the statements as thisis the time consuming part. In my opinion you are better off just doing the calc in excel.
The formulas are relatively simple to determine, I bet the forumers here could post several and then they just require minor adjustments to suite the banks T & Cs. eg 365 or 366 days in a year or 365.25, etc.TheSnowmanMember@thesnowmanJoin Date: 2008Post Count: 1mathewc73 wrote:I purchased the software when the hype was made about it on ACA. I was hoping it made it easy to load up the statements as this is the time consuming part. In my opinion you are better off just doing the calc in excel.
The formulas are relatively simple to determine, I bet the forumers here could post several and then they just require minor adjustments to suite the banks T & Cs. eg 365 or 366 days in a year or 365.25, etc.
Indeed, everyone is entitled to their own opinion, and yes, it probably would be quite simple to whip up a formula in Excel, but hey, you still have the first problem you mentioned – inputting all the data, guess there is copy & paste if you have the data in the right format; also, plus see the comment below.
Here is a review of the program http://www.moneybags.com.au/default.asp?id=4452&a=0
and some of the content –
Is it easy to use?
Yes, very easy.
Can't I do the same with a spreadsheet?
Yes but it will not be accepted by the bank.
I have this program and am currently doing just that; I will let you know how it goes. I bought it because of the 100% money back guarantee PLUS $250 on top of that; I figure I can't lose unless all the bank mistakes are in my favor, in which case I am already ahead anyway
And I do have just over 4 years data to enter, so back to grindstone and catch ya later, JohnlisasMember@lisasJoin Date: 2005Post Count: 36
Just wondering if any of you have found any errors on your bank statments using these products?
LisaMartyJMember@martyjJoin Date: 2006Post Count: 5
I found an error on my home loan where the bank had charged me investment rates, instead of home occupier rates. This was from a loan that was 14 years old (when there used to be a 1% difference between the two rates). I tried using a spreadsheet, but the compounding on compounding all got a bit messy, so I ended up buying Home Loan Interest Manager Pro to do all the calculations.mathewc73 wrote:In my opinion you are better off just doing the calc in excel.
It was really time consuming trying to set up the spreadsheet to work out all the numbers, and then make sure it was all correct. Maybe I was doing it wrong, but if all you want to do is a quick check of your statements, for free, then I would save yourself the hassle and try one of the following:
– use the web based checker at http://www.interestsavers.com.au, or
– download the free trial of the mortgage checker from http://homemoneymanager.com.au
Martymathewc73Participant@mathewc73Join Date: 2005Post Count: 241
Fair enough, as stated, it is my opinion. For me excel was easier and its all I would use again if I wanted to check.fritsmarlboromanMember@fritsmarlboromanJoin Date: 2008Post Count: 1Sparky0118Member@sparky0118Join Date: 2009Post Count: 2jackiedempMember@jackiedempJoin Date: 2010Post Count: 1
I have purchased mortgage watchdog and used this product and can't speak highly enough of it.
Not only did I run our mortgage through the software, I ran our seasonal finance overdraft through this software and was horrified at the errors our banks had been making.
I know it can seem a little time consuming at first but really this programme is fantastic and also prints out a letter to your bank manager and can calulate interest on interest etc.
Everyone who uses a bank should have this software and use it. This programme paid for itself in one month on our seasonal finance facility. I have run other family members mortgages through and consistently found bank errors as well.
Hope this helps all the queries above.
JackiekeikoParticipant@keikoJoin Date: 2008Post Count: 513
I beleive you should really check your statements, I have not used watchdog or any other but I have done my own calculations and every month there is an error on my variable loans, If your no good at doing your own calculations then I reccomend using watchdog or another.
you will find errors, I have seen $200 go out one month and other months it might only be $50 then it might be in your favour by $20 but very rarely, I think the banks know exactly whats going on.mbevenMember@mbevenJoin Date: 2010Post Count: 1
Mortgage Watchdog is one great con…..how they cover themselves is quite simple….they offer to
refund you if the program is identical to the bank's statement…….I secured a commitment from
them to refund me if there was no significant benefit in my favour. I spent hours imputting 3
different banks worth of loans and found the banks were actually about $0.20 per month in my
favour. I have demanded a refund and of course the usual story…..chq is in the mail….its been
over 2 months and no refund…….yet only took 2 days to take the money….
ITS A CON…..STEER CLEARAdrian1976Participant@adrian1976Join Date: 2010Post Count: 2
Whilst I haven't used the other products mentioned here I would recommend Mortgage watchdog. Just found out I'm owed $872.54. Nice one!!.
Especially when I didn't pay the $197. Check out the risk free trial being offered below.
AdrianMatt_ArnoldParticipant@matt_arnoldJoin Date: 2006Post Count: 142
Great news about you finding a bank loan fault in your favour.
If you read the terms and conditions but, i believe that you will have to pay the $197…
3. Where the 30 day Risk free Trial is selected, customers will only pay for shipping only at the time of the order. The full price of the software is payable in 30 days when the customer has found errors.
MattbinsieParticipant@binsieJoin Date: 2010Post Count: 1
Hi, I've used mortgage watchdog and found that they owed us heaps. I've sent the letter to the bank and got a promp call from the bank manager (almost amused) and said that these things are never accurate but he would look into it. He said generally the bank is correct.
My question is; has anyone actually received money back from the bank using this software? or is it a scam to get you to purchase the product?