Adjustable Rate Mortgage Police Getting Refunds for Homeowners

The Adjustable Rate Mortgage Police uses proprietary software to audit homeowners mortgages to secure refunds due to inaccuracies and overcharges.

Ojai, CA, December 08, 2007 --( The Adjustable Rate Mortgage Police announced today the official launch of its unique service,, that audits mortgage for mistakes and overcharging by lenders.

Experts estimate that about 50% of all adjustable rate mortgages have mistakes, creating a total of $8-$10 Billion of overcharges per year. Information substantiated in independent audits by the F.S.L.I.C and the General Accounting Office confirms that almost 50% of ARMS have errors and overcharges to homeowners.

“Mortgage overcharging is rampant amongst adjustable rate mortgages”, says Donald Timms, Founder of, “there are different estimates out there, but, based upon my research, and the homeowners we have helped, I would say between 40-45% of all adjustable note holders have mistakes on their mortgages.”

Mr. Timms continued “Over the last 7 years, there has been an explosion in mortgage activity, with many people taking advantage of low adjustable rates. However, most loans are sold, and that is where we find the most mistakes. Those with ARM’s that have been sold have the highest risk of being overcharged. In fact, our largest refunds have been from loans that were sold numerous times.”

According to Timms, the people who are owed money is staggering…45% of homeowners are due a refund in excess of $1500, 21% of homeowners are due a refund of $3500 to $10,000, and 13% of homeowners are due in excess of $10,00. Adds Timms, “Just imagine, 1 in 10 people reading this page right now are owed over $10,000.”

Adds Timms, “Until now, there really was nothing a homeowner could do to audit their mortgage. Banks and lenders send you a monthly statement, and you are supposed to believe their calculations are accurate. Now, we know many are not, and, our clients are receiving refunds because of this exciting program we offer.” Asked the size of refunds, Timms says “our lowest refund was $272, and the largest was $12,774.37.”

About the Adjustable Rate Mortgage Police
With offices in Torrance and Ojai, California, The Adjustable Rate Mortgage Police specializes in helping homeowners secure refunds by offering a low-cost mortgage auditing program. Their website is located at

The Mortgage Police
Donald Timms