Mortgage watchdog software ?

Hi Rexilla,
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]
Goodluck
Az

Hi Rexilla99,

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.

Cheers,
Marty

I think it is worthwile.   I'm in the same boat without 4 years of history, but have found some errors.  I would recommend signing up to Mortgage Watchdog.  It's quite cheap for the money.   Click here to visit their website.

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, John

Hi Lisa,

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.

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

Cheers,
Marty

It's a scam.

The program costs $29 and can be bought here:

http://www.mortgage-watchdog.com

Jim.

Hi there,
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.

Cheers
Jackie

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 CLEAR

Hi Adrian

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.

Matt