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A few years ago we did a bathroom renovation which was around $12,000. I punched the estimated cost into the Mortgage Reduction Plan software and it really didn’t make much of a blip on our loan repayment term. Not like I was expecting. I thought, “Well, this can’t be right”. At the time, I had to go see the bank and talk about money anyway. When I spoke to our banker about how little difference the projected $12,000 redraw seemed to affect our loan, he put it in his banks’ computer program… and it came out the same! He said, “Oh, yeah, that’s right”, so I knew it was. When we actually spent the money and did the reno, it worked!
I heard about the Mortgage Reduction Plan software a few years ago. I think I saw it on the local Current Affairs programme. I went in and investigated it. It’s great because we’ve been doing a lot of renovating over the last four or five years at our home, and we’re both on wages, so we can put the “what ifs” into the program to see what’s going to happen in the next four or five years with our loan.
Mortgage Free Australia has fantastic support for the Mortgage Reduction Plan software, too. Sometimes I’ve put the in figures a bit wrong and I’ve had to ring up to get some help. The guys at Mortgage Free Australia have been really, really helpful. I can thoroughly recommend the online Mortgage Reduction Plan software. I’ve been using it now for over 3 years.
Marion Carter (Administration Officer), Mira Mar, Albany WA 6330
Using a mortgage coach made our experience a whole lot easier. What we found made all the difference is the very personal service – we weren’t made to feel like a number which is what usually happens when you deal with a bank. We were kept very well informed the whole way so we always felt comfortable. Our mortgage coach listened to our needs, we told her what we wanted and she found the product that suited us, so we weren’t talked into signing with just any bank that she may have got a better kick back from. I have recommended the service to a few of my friends already and I am also looking into the possibility of refinancing soon – and our mortgage coach will be the first person I call.
Malcolm -- Bullsbrook, WA
You’ve absolutely got rocks in your head if you’re not destroying your loan using this system! I got your book ‘How to Be Mortgage Free in 4 Easy Steps’ and I put it on the side for a week or so, thinking, “Oh, I’ve got to read that”. And then one night I couldn’t sleep, so I read it. I read it all in one go. Afterwards, I thought, “Right, I’ve definitely got to do something about the obvious waste of money occurring with my mortgage!”
I decided to use a Mortgage Coach to fix the problem because of the excellent common-sense information in the book. The coach I used, Lorelle McCormack, was superb and couldn’t do enough for us. The way she kept me in touch with the progress of my loan was very good. Lorelle always gave me a ring saying what was happening with the loan, or that I was going to receive documents in the mail and when I got the documents what to do with them.
I remember one of the forms I got from the bank that I just didn’t understand. I rang up Lorelle and she rang back -- within about a minute -- and told me what it was about... and this was at half-past-nine at night!
The fact that Lorelle came out to our place at a time convenient to us and took the time to explain everything was the most important aspect to me. First Lorelle came to my office to meet me, then she came to my home and met my wife. I wouldn’t run around the banks trying to find things out, I just wouldn’t do that. I appreciated Lorelle’s care of my situation, because it’s a pretty big decision getting a new mortgage—we’re talking six figure numbers!
If my circumstances change, I’d certainly use a Mortgage Coach in the future.
Charlie Gunningham, (Founder & Director, AussieHome.com), Woodlands WA 6018
