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CB Investment, Insurance and Financial Review of Equity Accelerator, Englewood, CO
Equity Accelerator, Englewood, CO

Equity Accelerator, Englewood, CO review: Lost My Mortgage Payment! 1

J
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3:14 pm EDT
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I have been with this program since 1997. I was very happy with the results I was seeing on my principle balance and I was down to the final 2 years of my mortgage on one of my properties. I received a letter from my credit union telling me that they had not received my August 2013 payment. I immediately called Equity Accelerator and advised them about the letter. The first person I spoke with advised that the payment was mailed and that the check had already been cashed. They fowarded me a copy of the cancelled check and it was discovered had not been cashed by my credit union but rather by BNYMellon. And this is where the nightmare begins. After 3 weeks of waiting, and speaking to 8 different people including 2 supervisors at Equity Accelerator, the problem is far from being resolved. There only explanation to me continues to be that they mailed the check to the right address and that it's not their fault. I have to continue to remind them that they are the ones that wrote and signed the check to my credit union and therefore it is their problem and they need to contact BNYMellon and demand those funds be returned. Then they come back with a response that they are "Researching it". And in the mean time there is no one else I can talk to that's above the floor supervisors. What a crock! This system is great as long as you don't run into the problems I have run into. But you're better off not dealing with this company and just making that extra payment per year on your own!

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The complaint has been investigated and resolved to the customer’s satisfaction.

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Lawrence Green
Nampa, US
May 19, 2014 8:55 pm EDT

I just recently had a similar response. I just signed up and continued to get my regular mortgage payment requests from the main Nationstar Mortgage center. I was having half my mortgage payment being taken out of my bank account by the Accelerator Program plus a demand from the Nationstar loan originator for my usual monthly payment. I soon found out from the Nationstar Loan originator that my loan didn't take partial payment from a "third party". What? I cancelled the Accelerator program and have at least received some money back. I am currently watching my main loan to see if the two payments go to it. If not I am filing a complaint against the Accelerator. DO NOT use this program. It is a rip-off ! It should be investigated for criminal intent.