What Would You Think If I Told You That Your Commercial Loan May Be Overcharging You?

Mortgage loans, especially adjustable rate loans have almost a 50% error rate! Fixed rate are not much better, they come in at 30%. And for a jumbo, commercial loan that can translate into huge over payments that can definitely impact your company’s profitability. In this economic climate, especially with the problem with the mortgage industry and the scarcity of available loans, it is sometimes very hard for companies to stay afloat. Not enough money to properly run a business can mean lay offs, raising prices on products and services, possibly even the drastic step of closing your doors forever. There are only two ways to make a change that impacts your bottom line:* Charge more money to the clients and customers. Most companies are reluctant to do that because in this economy they can price themselves right out of the market.* Or cut the costs for delivering that service or product. We are going to explore this avenue in great depth in this article.There are not a lot of places for you to turn today, so when a new avenue for more savings opens up for your business, it is a good idea to take a look at it closely. Auditing in all it’s various forms, has been a great tool for verifying mistakes for all aspects of your company’s budget. Would you even consider paying for that box of supplies without peeking into the carton and checking the invoice? Or pay for a service with a blank check, trusting that there will be no mistake on the bill? Of course not, you are more conscientious than that. You count all those parts in the box of supplies and check the service bill for errors. But what about the parts of your business where it is impossible for you to make sure there has not been any human error? There have been so many businesses recently started in this modern world to catch more errors and help with more accountability, because if you want to stay in business, there needs to be some profit for all your hard work. One great example is utility and telecommunication auditing. Where we once took for granted that our utility bills were accurate, we now know there is at an 85% error rate and overcharges. It is a very good idea to stop and have an expert look at those invoices. Who know, it could be a very pleasant surprise!So, what is this new way to fuel our companies with more money to run efficiently? It’s time to take another look at your commercial mortgage loans. With a possible 50% error rate, it is prudent to check the figures with a reputable audit firm, one that specializes with mortgages. It could mean tens of thousands in refunds and saving thousands every year, definitely changing your present financial picture. We are so fortunate to live in the age of information, especially the computer. When correct data is imputed into the computer, it works perfectly. But when there are mistakes in the data, the computer continues using that wrong info, usually wrecking havoc in our lives and pocketbook. Sometimes, in places we may not even know about, like on our utility bills and mortgage rates. Which brings us full circle again to how wonderful computers can be. When during an audit the correct information is now entered into that same computer, it can reverse all manner of errors. And for some of us there will be a big celebration after an utility or mortgage audit, because the future is a very bright place filled with refunds and lower payments!

This entry was posted in Finance and tagged , , , , , , , , , . Bookmark the permalink.