The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: NextTime on June 12, 2017, 11:45:05 AM
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Anybody have any recent experience with this?
We recently purchased a house and the only way to make bimonthly payments is through this service. When I googled the program I got a horror story of links about how they weren't applying the biweekly payments.
https://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-action-against-mortgage-payment-company-and-servicer-for-deceptive-ads/
That was 2 years ago. I'm wondering if they have cleaned up their act and if anyone is currently using the program. Because when I go into their actual website, you have to register to see anything.
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No idea about that company specifically, but a general aversion to products and services with cutesy names such as "equity accelerator".
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Can you just set automatic larger payments instead? It sounds like this company charges a fee to set up these biweekly payments when you could just send extra payments on your own for free.
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The CFPB's Civil Penalty Fund is nothing more than a government shakedown. Big Government has to get its cut.