Yes, it's a scam. So they didn't offer you the ACT Program software for $49.95/month and you avoided that scam. If you want to be scammed, call them back and demand to buy the ACT Program. Go ahead.

I received a letter from ACT, called them and asked the representative if this was a Scam as I was goggling it and reading about at the same time that it was a scam.  She said just for $199.00 we will take a look at your mortgage you purchased for any errors.  Clearly you could tell she was reading from a script.  I said I?m pretty sure there weren?t any errors and I did not want my Mortgage to be Audit.  "She said, "ok, I'll just update your file to say you did not want the audit and close the case.?  I said thanks, and hung up the phone.  Well, let me tell you, I never gave her my name or any information about me and made sure I didn't call the number from any of my personal phones.  Scam or what?

This is so True!!!!!!!!!

I just received one of these letters today.  Thank you for posting so much information about this so I could check it out for myself.  Even though $48,000 sounds like a great interest reduction amount, I am with the rest of you in believing that if it looks too good to be true, it probably is.  Thanks for posting!

Look for the 877-778-4727, just got a new letter with this number on it.

The company is AED = Accelerated Equity & Development but doing business as ACT = Accelerated Cashflow Technologies.
AED's business license https://secure.utah.gov/bes/action/details?entity=1429559-0142
No Utah business license exists for ACT.

The $149 refund-overcharges audit is just the come-on to up-sell you to the ACT Program which is nothing more but repackaged Money Merge Account software to shorten your mortgage loan and "save" you hundreds of $thousands in interest. The truth is you can do the same yourself for FREE by simply paying extra principal with every regular mortgage payment -- the more extra principal you pay, the earlier you pay it, the shorter your loan will be and the less interest you will pay. The MMA uses the same prepayment of principal to reduce interest charges and shorten the loan but the company claimed the MMA's proprietary algorithm was responsible (false!). The MMA has been thoroughly debunked here http://www.fatwallet.com/forums/finance/741118/  One of the posters there, mikef07, got a MMA agent to run his mortgage numbers, compared it to extra principal payments, and mikef07 says at the top of this page http://www.fatwallet.com/forums/finance/741118/?start=914 that "The results do show that by using the MMA software it would cost me $5070.29 extra." Yes, buying and using the MMA will cause you to *LOSE* money on the deal. At $3,500, the MMA is a NET LOSS for your finances. Do It Yourself really works. I paid a 15-year mortgage off in 66 months without the MMA or a spreadsheet or a financial calculator. I paid about 1/3 of what the total interest charges would have been had I carried the loan to the full 15 years. And I also "saved" tens of $thousands of interest though that "saved" interest *NEVER* left my pocket and I never missed paying it. The concept of "saved" money that you haven't paid out is idiotic -- just think about a used car priced at $1,000,000 and sold at $10,000 thereby "saving" you $990,000. You should only consider whether the car is worth the $10,000 that will be leaving your pocket; the $990,000 "savings" is irrelevant. Don't fall for this "savings" nonsense.

The ACT Program falls in a category of scams where the product/service being sold actually works but is unnecessary or you can achieve the same result yourself at much lower $cost or for FREE. If you knew how to Do It Yourself, you would *NEVER* buy the ACTP because you'd be paying big $$$ for something easy that you could do for FREE. Beware you may not want to tie up your cash in an illiquid asset (your home) in this uncertain economy where there are millions of forclosed homes on the market with more on the way.

"SAVING" MONEY THAT YOU HAVE NOT YET PAID OUT IS A DUMB CONCEPT.

DO NOT BUY ANY PROGRAM TO RETIRE YOUR MORTGAGE EARLY OR TO "SAVE" MORTGAGE INTEREST OR GET A "REFUND" OF FUTURE MORTGAGE INTEREST --- YOU CAN DO THE SAME FOR FREE! FREE! FREE!

Anyone knows who this is?

The BBB rates companies regardless of accreditation though I don't know what determines why one company gets rated and another not. The purpose for the link was to show that AE&D owns the websites actdebtfree.com and consumerservicing.com websites, both of which have dodgy registrations.

When you click on the link for bbb it show he is not accedited by them.

The letter I received had the phone number 866-259-0031.  They said I could possibly receive $7800.  I knew it was a scam right away because the letter did not list anyone's name, company address, or website in addition to the amount of the mortgage listed was incorrect.

For fun I called the 866 number and asked for documentation to be sent to me, which they would not do.  To gain more ammunition for my reply here, I contacted the BBB which as I expected indicated that this is a wide spread scam that has been reported in the news.  I next reported them to the FBI Fraud division.

If you get a letter like this - scan your letter into your computer and email it to the FBI so they can track all of the different phone numbers that this company keeps changing to...

You should be ashamed of yourself. People are in distress. And you sit there and think of a way to con people of of there money and give them false hope of getting a refund. How dare you.God takes care of people like you. Lord have mercy on you.

Most roofs are imperfect (loose shingles, etc.) but few actually leak and money spent on imperfect roof inspections is wasted money. Finding loose shingles is enough to void the money-back guarantee.

Ok guys I got one of these letters too. I did some research and here's my unqualified opinion:

It's not a scam. BUT you probably will just spend money and get nothing for it... doesn't that make it a scam? Well, no, since they actually DO what you're paying them to do and that is an audit of your mortgage. What happens after that is up to you. So here's what could happen - you pay the $99 to ACT and they do what you paid them for. Let's say they find an error (and they most likely will - even if it's for a few cents) now what? For argument's sake, let's just say they found a $1,000 error in your favor. So you think, "wow, this was a GREAT deal! I only spent $99, and I am going to net $901 that I otherwise wouldn't have known about!" well hold on just one minute, cowboy. Even if ACT did find a $1000 error and they provide all the documentation to prove it (as they say they will) who says your Mortgage servicing company will write you a check? Here's where it gets sticky. Your servicing company will blame the bank, then bank will blame whomever sold them the loan and so forth. It's also likely that there is something written into your mortgage contract that absolves them over just such unintended math errors. Even in a best-case scenario, you would likely have to sue your bank (or whoever owns the mortgage) and HOPE you get your legal fees as well as whatever error they owe you - it's a real pain - but hey it doesn't hurt to ask your mortgage company UP FRONT if they regularly audit mortgages and if they do, can you have that information. Also you can ask them if you find an accounting error, what happens next. You might be surprised at their callousness these days, but the truth is most of them don't care - from their point of view, you're fortunate to have been able to borrow their money in the first place.

Thanks everyone... I just received a letter from ACT and was thinking about calling as I am also trying to find programs to lower my mortgage. Although this is a SCAM I know that if your loan in owned by Fanny Mae or Freddy Mac they have a sight where you can refi 125% of your home value to lower your mortgage payment. I know that means you have to have put some equity in your home purchase, and if you were at the top of the bubble when you purchased that meant about 20%. I am in the process of doing this now and it is lowering my payment.
Here are a couple of links to help out if you are interested in lowering you monthy payments...
http://www.makinghomeaffordable.gov/about.html
?www.fanniemae.com/loanlookup
?www.freddiemac.com/mymortgage

Apologies, let me try posting those links again.
http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt177.shtm
http://www.cleveland.com/consumeraffairs/inde ... t_pull_you.html
http://finance.einnews.com/247pr/190435

Daniel Wilson's email address domain actdebtfree.com is shown on bbb.org's as belonging to Accelerated Equity & Development, Inc. http://www.bbb.org/denver/business-reviews/mo ... per-ut-12052936  AED is also scamming on these phone numbers:
http://800notes.com/Phone.aspx/1-877-676-5557/
http://800notes.com/Phone.aspx/1-877-670-5577/  (actdebtfree.com mentioned on page 2)
http://800notes.com/Phone.aspx/1-877-342-4308/

actdebtfree has a *very* dodgy registration. Admin and tech contacts both list United First Financial of UT - the same bunch that brought us the totally unnecessary Money Merge Account that will waste $3,500 of your money. However the registrant contact is:
"wang ent
john denver ()
Fax:
1234 main st, Bluffdale, UT 84065, US"
This is a *fake* address as Main St does not exist in Bluffdale, UT. Who would want to give a *fake* address and no phone number in registering a website? A scammer, that's who. Beware there may be a number of dodgy "companies" like ACT and AED running this sort of scam using actdebtfree.com as a common website. Here are some warnings on this sort of scam:
http://www.ftc.gov/bcp/edu /pubs/consumer/alerts/alt177.shtm
http://www.cleveland.com/consumeraffairs/inde ... t_pull_you.html
http://finance.einnews.com/247pr/190435

I just had to call and find out if even a Daniel Wilson exists.  I explained to the gentleman who answered that I received a call from Daniel Wilson and that I was just returning his call.  He told me first that he doesn't see an extension for a Daniel Wilson, then put me on hold, came back a half minute later and told me yes he will forward my info to him.  Too bad I gave them a false name and number.

I also received the letter stating I may be owed a refund that can exceed over $4,800.  So of course I investigated and found nothing on ACT.  I searched the number and came across this very useful and worthy site.  Now I don't need to waste my time any further with this ridiculous letter.  As for Daniel Wilson, you're a dirtbag.  Tell us Daniel Dirtbag, how long will it take for you to refund our money in the event that you don't find any overcharging or miscalculations in our mortgage loan?  How much of a headache is that for us trying to get our money back?

Harder to scam when people take time to investigate.

Humm...a debt servicing company that wants to help you get some money back from a mistake that your Mortgage company supposably made... Way to good to be true.

Notice how they dont mention in the letter about thier service fee that you get back if they cant help you...I bet that is an easy refund to obtain...

it was so tempting to call, but after reading all these comments. NO Thank you. :)

Mortgage Fraud Examiners exposed these bogus forensic loan audits two years ago in a press release: "Beware of the Latest Foreclosure Rescue Scam?Forensic Loan Audits." http://www.docstoc.com/docs/51628348/Beware-o ... sic-Loan-Audits

So Daniel.......why don't you state ANY of what you told us in your letter you send out.  Futhermore, NO company is in business for FREE.    So if what you say is true, what is in it for you.....

You have to understand--Blank envelope-  No website in your letter-  Looks like a duck, walks like a duck......

Dan,

Do you actually sleep at night?

In today's economy. it is increasingly distracting to see that entities like yourself continue to float to the surface of our culture.

Did you actually intend to be an advocate of repulsiveness or did this come to you as a relevation on how to use the current conditions to yet again take advantage of society?

There must be a way that those of us seeking to survive can remove you from the society in which we reside.

After all, even in a pond containing beneficial water, such as our great country, there is a surface scum. You must be be pleased that you are that scum.

Suggest you watch out for the surface remediation company, another entity such as yourself, this time targeting the removal of the pond surface effluent.

Sleep well!

correction: toooo good to be true

Thanks. I just recieved a letter in the mail today. The money was tempting but it was also to good to be true

daniel get a real job and by the way im contacting the attorney general as it is illegal under the FTC to spam/scam under your device

SPAM
SCAM
ALL THE SAME
THEY SHOULD BE SENT TO PRISON

Daniel Scammer you mean not Wilson
dont call dont reply
scammer

I received one of the letters from ACT and called their representatives.  ACT is playing on peoples fears of recent mortgage fraud and when you tell them where your mortgage is held they tell you they have found several errors and have been able to provide individuals with several dollars of refunds.  They told me this about the company where my mortgage is held, which is 100% untrue.  I am the Director of Audit at the financial where my mortgage is held and we have NEVER had to refund anyone due to errors on behalf of ACT or any other outside audit firm.  My two cents is they are misrepresenting their company and playing on people's fears.  In addition, due to the lack of information on the envelope and the letter I wonder what exactly they are doing with all of the personal infomation they receive when they actually have someone that wants their mortgaged audited by ACT.