Anonymous

Still owe me money 30 days out

I had this program for 4 years and it was quite good as it was paying down my mortgage quicker. I sold my home and closed on Feb 28th. They still drafted out my payment. I thought, it could happen, I get it, just not enough time from close on home to stop payment. However, it has now been 30 plus days and I still do not have my 3500.00 back. The stated reason is a computer glitch? Hmm, glitch didn't stop them from taking my money but somehow wont give it back. I will not use this company again in the future, and eventually I will get my money back. Too bad for them, lost a good customer.....
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Reason of review:
Problems with payment
Michaeleen Duv

Phone just disconnected

DISCONNECTED on phone call in middle of sentence.
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Reason of review:
Poor customer service
Anonymous

Complaint on how they make your mortgage payment

I am very annoyed and not certain how to proceed. Is there by chance a Class Action Lawsuit against www.equityaccelerator.com? If so, how do I proceed please? I established a membership years ago with Equity Accelerator. When I joined I was told they withdraw bi-weekly as I requested, and would make bi-weekly payments to my mortgage company. All this time I have TRUSTED this company to treat me right and do the right thing. Foolish me! I recently had it explained to me by a CSR at Equity Accelerator, my mortgage payment is withdraw from my checking account bi-weekly, however, they put it aside in some type of hold account until they withdraw the 2nd bi-weekly check for that month. Then they issue a check to the mortgage company and MAIL it to them. What CRAP!!!!!!!! This is very upsetting because clearly is has not been reducing the monthly interest on my mortgage as I was led to believe it would. I was told it would save me 7-8 years in my mortgage. I have been deceived and I am PISSSSSSSSSED! What can be done please?
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Loss:
$10000
Reason of review:
Not as described/ advertised

Preferred solution: Full refund

Clement Was

Payment change

Was asked 2 call back in 2 hrs. Access 2 my account unavailable at this time
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Reason of review:
Problems with payment
Anonymous

Understanding Principals

You obviously don't understand the process, for that I blame Equity Accelerators for not being more clear on how the program works on the Mortgage end. I've been with them for 10 years and they pull money from my account weekly. Any amount that is sent that is over the required payment is automatically used to pay off the principal and bring down your interest charges. They have saved me thousands of dollars by paying my principal down. Granted it takes several years to actually see the results but when it starts becoming more visible...it is impressive and I do not feel any financial strain on me as well. I hope you can accomplish what you need and you can do it yourself as well. Cheers! -Rod
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Reason of review:
Good quality
Lorell Xpe

Jerks

Tried to change my auto payment, and you guys want more money
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Reason of review:
Problems with payment
Anonymous

Not worth it!!

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You can do this program yourself and save the $295 start up fee and $5.00 monthly withdrawal fee. Just pay an extra mortgage payment a year!. I had a very very hard time getting my partial mortgage payment back when I canceled. They kept coming up with excuses as to why they hadn't refunded my money back into my account...very strange. I would never recommend this program to anyone.
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Reason of review:
Return, Exchange or Cancellation Policy
1 comment
Guest

Please discontinue your relationship with this company. You DO NOT need their services.

Third party businesses are useless. You can pay your bank the extra money directly. Your Bank will encourage it. Consumer Financial tools have come a long way since third party was established.

YOU no longer need them. They stealing your money and using it for there own benefit... primarily to pay there lying employees and to keep this scam going. PLEASE CANCEL YOUR ACCOUNT WITH EQUITY ACCELERATOR.

Do not delay... it is only going to get worse. Don’t blame yourself ..They stole your money but not your dignity Walk away and make your next call to the Attorney General of Colorado.

Pretty sure most of the employees are ex-offenders or fast on their way to being one. Good Luck!

Anonymous

Continued to take money from my account even after my loan was transferred to a new company

Continued to take bi-weekly payments from my bank account even after acknowledging that my mortgage had been bought over by another company 5 months before. Had promised twice to stop taking payment, but this continued after that. Hung up on me when I called. I had to call multiple times to get my money back. One person had promised me that a check had been sent out to replace the money taken and then a week later someone else told me no money had been sent at all. I have had money taken against my will, despite promises that it would stop, and have been lied to more than once. Have had to use bank resources now to stop payments and attempt to get my money back.
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Loss:
$1611
Reason of review:
Bad quality

Preferred solution: Full refund

Anonymous

NOBODY HOME HERE!

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I sold my home, went on vacation without a computer (thinking everything was fine) while Equity Accelerator took no less than SEVEN payments from my checking account. My bank never cashed these monies because my account was closed! No one advises you anywhere that EA is a third party partner with no ties whatsoever to your bank; they seem to want you to think they are and don't divulge this up front. I said well didn't you sort of notice (red flag) over 3 months time that these payments were never received? So now they are charging me transaction costs for all these payments they shouldn't have taken in the first place. And won't refund them. All the terms are set out (buried) in our terms and conditions, a supervisor told me. I said this detail should be set out on each statement. ADVISE US ASAP IF YOU PAY OFF YOUR MORTGAGE. We don't send statements, she said. Gee, I have a file full of them. I won't use them again.
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Loss:
$39
Reason of review:
denied refund

Preferred solution: Full refund

Anonymous

Equity Accelerator Rip Off

I was lead to believe that my mortgage was being changed from a monthly to a Bi-weekly mortgage and that well Fargo was facilitating the loan change. Over Ten years later I get a statement from Equity Accelerator and I find out that my payment were being sent to Equity Accelerator where a fee is removed, then the rest of my payment/funds are forwarded to Wells Fargo for loan payment.

I was never informed that I was dealing with a company other then Wells Fargo. I never signed an agreement with them, just a phone call about the a equity program from Wells Fargo. I was never told about the any fee involved. I called Wells Fargo they say they have nothing to do with Equity Accelerator but are aware of the company, whose sole purpose in truth is charge you a fee to process your payment to Wells Fargo.

Why allow this when the customer can pay Wells Fargo for free direct? Called Equity Accelerator and they say they have a seamless relationship with Wells Fargo and that my called must have been forwarded to them by Wells Fargo, which must have happened before the phone rang.

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Anonymous
map-marker Boaz, Alabama

Scam-I agree........Class A suit who's interested???

This company has taken the same amount from my checking account since 2007 every two weeks. They begin mailing in late payments stacking up charges for the late fees and expect me to take care of them out of my own pocket. They were not depositing the same amount into my mortgage account any month. When I called to inquire, the gentleman was completely rude and sarcastic. I then spoke with a supervisor who wasn't much help. I really feel like we would have a Class Act suit if we would all get together and do it......thoughts????
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Reason of review:
Problems with payment
7 comments
Guest

Im interested as well this company sucks and you cant get a straight answer on when you will get your money back from this company.

Guest

I am very interested in the class action law suit

Tekla Gml

We are interested in a Class Action law suit also. Have the same issues with Wells Fargo/Pay Map accelerator program.

They misinformed us about how it works.

Actually, who would sign up for a program that offers you no advantage??? I can submit my payments monthly without paying someone else to do that.

Guest

I'm in! I was lead to believe that my mortgage was being changed from a monthly to a Bi-weekly mortgage and that well Fargo was facilitating the loan change.

Over Ten years later I get a statement from Equity Accelerator and I find out that my payment were being sent to Equity Accelerator where a fee is removed, then the rest of my payment/funds are forwarded to Wells Fargo for loan payment. I was never informed that I was dealing with a company other then Wells Fargo. I never signed an agreement with them, just a phone call about the a equity program from Wells Fargo. I was never told about the any fee involved.

I called Wells Fargo they say they have nothing to do with them but are aware of the company whose sole purpose maybe to charge you a fee to process your payment to Wells Fargo. Why does Wells Fargo allow this when the customer can pay Wells Fargo for free direct?

Called Equity Accelerator and they say they have a seamless relationship with Wells Fargo and that my called must have been forwarded to them by Wells Fargo.

Guest

I agree, also for anyone not included in the class action lawsuit filed by the CFPB which ordered Equity Accelerator to return all fees charged them because of the Dodd Frank act. Equity Accelerator promised to send payments bi-weekly to the mortgage company to decrease the interest charges; but they lied and were only sending monthly payments.

I am sure there were a lot of people left out of this lawsuit but we could always start one. I feel we should be made whole also.

Ietanza70@***.com.

Guest

Same thing here. I'm interested in a Class A suit.

Guest

This just happened to me! March 2012 to may 2013!!

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Anonymous
map-marker Nanuet, New York

DO NOT EVER USE. There are hundreds of other companies that provide a similar service but in a much more professional, efficient and contemporary manor.

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I just canceled my account with equity accelerator because of the following reasons. For start this company has no business conducting business in this day and age. This company is the most analog and antiquated company on earth. They still rely solely on fax’s or snail mail. If you wish to make a change on your own account you have to type out a letter and either mail it to them or fax. And depending on who receives the fax it may or may not get to its targeted destination. FACT * I had an account change in NOVEMBER of 2015. I was told they don’t use email nor have a web page for account changes and I had to type out a letter and fax it to them with a copy of my new bill or sent through traditional mail. So I did as requested and faxed it. I had my fax confirmation in hand as well as called 24hours later to verify its receipt once again like I was told. Four months later I received a letter from my mortgage company stating that my mortgage wasn’t paid for the month of February. After hours of calls to two different mortgage company’s and being on the phone with equity accelerator I finally discovered that my account was never changed and they were sending my payment to the old company who for the prior three months was forwarding the payment to my new mortgage company. However they tired of this and sent the fourth payment back to Equity Accelerator. When I complained about everything this company had put me through they refused to take any responsibility and simply stated that it was my fault and not theirs despite the fact I had a fax conformation in my hand and I called and spoke with someone confirming the fax. Then I had to re-fax the paperwork and wait 24-48hours to see if they even received it this time. One again ridiculously antiquated. So 48hours later they confirm that they have my new account number. I then remind them my February payment still needs to be made at which time I am advised they can’t make the payment because the money sent to my prior mortgage company is missing and they have to place a trace on it, and until the funds are released they can’t make any payments. I was further advised that this would not happen until March and I was out of luck for my February payment. I advised them that this would affect my credit rating and re-iterated that this was their fault and could they send a check and keep the funds once they were released or do something else and was told this is their policy and there was nothing they could or would do. I immediately told them to cancel my account and they could go to ***. Once again this company has no business conducting business in this modern day and age. Their customer service is nothing but a few robots who have a script that they keep repeating and deny all fault this includes their “supervisors” who are as useless and the regular customer service. This company has no email or web access and should be ashamed of how they conduct business. DO NOT EVER USE. There are hundreds of other companies that provide a similar service but in a much more professional, efficient and contemporary manor.
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Reason of review:
Poor customer service
1 comment
Guest

Same exact thing happened to me. They were also only making partial payments, never understood why as you stated they blamed me.

They would not allow me to cancel my account over the phone.

They are still withdrawing the money from my account. Did you have to send anything to them to cancel??

Anonymous

I could not be more pleased with my experience with Equity Accelerator

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I started with Equity Accelerator 7 years ago just after I bought my home. My mortgage was sold to a different company shortly after that and I refinanced with yet a third mortgage company within a couple of years after that. A few years ago, I my mortgage was sold to another bank which makes a total of 4 financial institutions within 7 years. I have only had a slight issue for one month of missed payment between mortgages from a communication failure, possibly my own fault, which barely effected my credit temporarily. This would be my only complaint. Other than that, I have had no additional problems but I keep close tabs every month on my mortgage statements to avoid any issues. It has made budgeting easier overall which is the main reason I use the program. Everything the program offers I could do myself but the convenience of the program has afforded me the ability to pay $8000 more principle in 7 years than I would have by paying standard payments.
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Reason of review:
Good customer service
Anonymous
map-marker Rowland Heights, California

Equity Accelerator Customer Care Review

Everytime I try to call the nu ber on the letter it just hangs up. I got a different num er on line. i got as far as putting my acct number then CLICK......maybe this is a sign to end this program.BAD CUSTOMER SERVICE
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Reason of review:
Poor customer service
Anonymous
map-marker Parsippany, New Jersey

Poor Customer Service

Contract # 1869**** (Emma) supplied no assistance. Refused to escalate a simple stop payment. Sounded very unsure of herself. Obviously lost in her screen panel. Never have I spoken to a customer representative so lost. I could even tell she took it personal when I asked to escalate my request. Very sad to see your organization hire people who don not know what they are doing. More training required. Glad to no longer be associated with your business. I quit your program because of the high service fees you charge.
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Loss:
$1000
Reason of review:
Poor service and high service fees

Preferred solution: Full refund