888-509-1112
 | Casey 2011-11-04 16:48:45 Unknown |
no caller ID
| nick 2011-10-17 22:33:08 Unknown |
If you get a letter from ACT about your mortgage shred it. The only contact info is this phone number#. 888 509 1112. Ridiculous.
| anonymous 2011-10-14 22:29:44 Unknown |
I came to this thread from http://800notes.com/Phone.aspx/1-877-778-4727/4 where Jill and Vanessa posted that 888-509-1112 is the number on their letter (if you don't see it on page 4, it may have been pushed down to page 5 or 6 by new reply posts). They offer a mortgage audit for $199 with full or partial refund if nothing's found as a lure to induce potential victims to call up so they can up-sell victims their real money-making scam called the $49.95/month ACT Program (accounting software to "reduce your scheduled mortgage interest"). The $199 audit will keep the lights on but the real money lies in the $49.95/month ACT Program software. If you really need accounting software, google for reviews on different software or ask your friends; many (Quicken, Microsoft Money) are available for $100 or less but *don't* buy anything from ACT.
The company is AED = Accelerated Equity & Development but doing business as ACT = Accelerated Cashflow Technologies. BBB rating of C+ and listing http://www.bbb.org/utah/business-reviews/fore ... per-ut-10061629 (scroll down to the bottom to see AED's Alternate Business Names) that states:
"Complaints allege the company was paid for services and has been slow to complete the audit as promised.
The letter sent by the company explains that a refund can be requested if the mortgage audit does not turn up any savings. The refund is only available after filing out a "rebate" form provided by the company. The rebate must also be requested within 30 days of receiving the audit results.
The company also sells access to personal finance software for a monthly fee. This is sold on a trial basis and consumers must cancel within 10 days or they will be charged monthly until they cancel."
... and ...
"The BBB has received numerous contacts from the public regarding a mass mail campaign conducted by Accelerated Equity & Development, Inc, also known as ACT.
The BBB contacted the company and requested modifications based on the BBB's Code of Advertising guidelines. The company has modified some aspects of the mailer, however other aspects remain of concern.
The company has stated that information is confidential and will not substantiate the claim "amounts owed can range as high as $1500 to over $7800." The BBB and government agencies believe that before a company uses a claim they should be able to substantiate the claim.
Consumers continue to express concerns about the mailing - mainly regarding the fact that the company does not identify themselves completely. Consumers have stated that when a company is asking for personal information there is an expectation that the company will provide the provide their complete contact information and full name."
AED's Utah business license https://secure.utah.gov/bes/action/details?entity=1429559-0142
I could not find a Utah business license for ACT or Accelerated Cashflow Technologies or Technology. Anyone is welcome to search here https://secure.utah.gov/bes/action ACT appears to be in violation of Utah state law that requires all businesses including DBAs to be registered http://corporations.utah.gov/pdf/buslicguide.pdf
"Who Must Register Their Business?
All businesses in Utah are required by law to register with the Utah Department of Commerce either as a "DBA" (Doing Business As), corporation, limited liability company or limited partnership. Businesses are also required to obtain a business license from the city or county in which they are located."
Any company not registered as required by law in their home state is a FAKE COMPANY. ACT is a FAKE COMPANY.
AED is linked to United First Financial who sold the Money Merge Account http://en.wikipedia.org/wiki/United_First_Financial
AED/UFF has abandoned its MLM agents, sold exclusive marketing rights of the Money Merge Account to Market America (think acres of phone banks) and repackaged the $3,500 MMA as the $49.95/month "ACT Program." The MMA was sold as software to retire your mortgage early and to "save" hundreds of $thousands in mortgage interest, i.e., implied it was a financial gain to spend $3,500 to "save" hundreds of $thousands in mortgage interest. The repackaged "ACT Program" now reduces tens to hundreds of $thousands of scheduled mortgage interest for $49.95/month. You can achieve the same results for FREE by simply paying extra principal every time you pay your regular mortgage payment -- the more extra principal you pay, the earlier you pay it, the shorter the loan term will be and the less interest your mortgage will cost you. The MMA used the same principal-prepayment method but scammy-marketed it instead as proprietary software that achieved the "savings" without disclosing what the actual mechanism was.
The Money Merge Account been thoroughly debunked here http://www.fatwallet.com/forums/finance/741118/ with a Quick Summary on page 1. In reality, you will *LOSE* some $thousands if you use the ACT Program to pay off your mortgage. In fact, mikef07 states at the top of 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" than doing it on his own and that was when the MMA was $3,500. The present value of $49.95/month for ~10 years (assumes you pay a 30-year mortgage in 10 years) at 1% APR compounded monthly (what savings accounts are giving) is ~$5,700 so the $3,500 price for the MMA has been sneakily increased to $5,700 today for the ACT Program. The $5,700 MMA-repackaged-as-ACT-Program means mikef07 will lose 5070.29-3500+5700=$7,270.29 today.
Just google "united first financial scam" and "money merge account scam" and read up on this horrible scam.
The ACT Program falls into a category of scams where the product/service being sold actually works but is unnecessary, or you can achieve the same result with competing software at much lower $cost, or for FREE doing it yourself. If you knew all the ways and costs of achieving the same results, you would *NEVER* buy the ACT Program because you'd be paying big $$$ for something easy that you can do yourself for FREE. The scam is in the marketing using twisted language to obfuscate and confuse like "reducing" or "saving" scheduled mortgage interest that has yet to be paid. "Saving" interest is a stupid concept often used in advertising to confuse consumers. The concept of "saving" interest is stupid because "saved" interest does not leave your pocket. What does leave your pocket is the actual interest you pay, i.e., the interest you get to deduct on your tax forms. "Saved" interest is just a number on paper and totally useless. If a $2 can of beans went on sale for $0.75 and advertised as "saving" you $1.25, you should only consider whether the can of beans is worth $0.75 and should ignore the $1.25 in "savings." Would you be happier if the can was priced at $5? If so, you'll be "saving" $4.25 though you'll be paying the same $0.75 for the same can of beans. Are you any richer by "saving" $4.25 instead of $1.25? Obviously not. The only money that left your pocket was the $0.75 for the can of beans, not $1.25 or $4.25, and the only important measure is whether the beans was worth the $0.75 that left your pocket, everything else is irrelevant.
Folks, don't buy ACT software to retire your mortgage early to reduce or "save" scheduled mortgage interest -- you can do the same yourself for FREE. I paid off a 15-year mortgage in 66 months and reduced scheduled mortgage interest by ~$60,000, all by myself and without software, a spreadsheet or a financial calculator. If I can, you can too, just pay extra principal along with your regular mortgage payment (to the extent possible given the size of your paycheck and other expenses) though it may not be wise to lock up your cash in an illiquid asset (your home) in this housing crisis with ~1 million foreclosed homes on the market and more on the way. The prudent thing to do is to save cash in case you lose your job but does ACT caution you on this? Hell, NO! All ACT wants is your money and it's a fake company! Whatever you do -- *DON'T* buy the $5,700 ACT Program! What sense does it make to give $49.95 away every month for ~10 years to AED when that money can go into your own pockets as home equity if you simply do it yourself?
Beware Tina reports on 13 Oct 2011 http://800notes.com/Phone.aspx/1-877-778-4727/4 that she had to give her credit card info to "hold" a phone appointment with ACT on the next day. Ask yourself what legit business will ask you for credit card info to "hold" an appointment? This is nothing but a barefaced attempt to grab your credit card info. Please don't buy anything from AED or ACT.
STAY FAR, FAR AWAY FROM AED, ACT, AND THE $5,700 ACT PROGRAM AND BEWARE OF SHILLS ON THIS THREAD.
The company is AED = Accelerated Equity & Development but doing business as ACT = Accelerated Cashflow Technologies. BBB rating of C+ and listing http://www.bbb.org/utah/business-reviews/fore ... per-ut-10061629 (scroll down to the bottom to see AED's Alternate Business Names) that states:
"Complaints allege the company was paid for services and has been slow to complete the audit as promised.
The letter sent by the company explains that a refund can be requested if the mortgage audit does not turn up any savings. The refund is only available after filing out a "rebate" form provided by the company. The rebate must also be requested within 30 days of receiving the audit results.
The company also sells access to personal finance software for a monthly fee. This is sold on a trial basis and consumers must cancel within 10 days or they will be charged monthly until they cancel."
... and ...
"The BBB has received numerous contacts from the public regarding a mass mail campaign conducted by Accelerated Equity & Development, Inc, also known as ACT.
The BBB contacted the company and requested modifications based on the BBB's Code of Advertising guidelines. The company has modified some aspects of the mailer, however other aspects remain of concern.
The company has stated that information is confidential and will not substantiate the claim "amounts owed can range as high as $1500 to over $7800." The BBB and government agencies believe that before a company uses a claim they should be able to substantiate the claim.
Consumers continue to express concerns about the mailing - mainly regarding the fact that the company does not identify themselves completely. Consumers have stated that when a company is asking for personal information there is an expectation that the company will provide the provide their complete contact information and full name."
AED's Utah business license https://secure.utah.gov/bes/action/details?entity=1429559-0142
I could not find a Utah business license for ACT or Accelerated Cashflow Technologies or Technology. Anyone is welcome to search here https://secure.utah.gov/bes/action ACT appears to be in violation of Utah state law that requires all businesses including DBAs to be registered http://corporations.utah.gov/pdf/buslicguide.pdf
"Who Must Register Their Business?
All businesses in Utah are required by law to register with the Utah Department of Commerce either as a "DBA" (Doing Business As), corporation, limited liability company or limited partnership. Businesses are also required to obtain a business license from the city or county in which they are located."
Any company not registered as required by law in their home state is a FAKE COMPANY. ACT is a FAKE COMPANY.
AED is linked to United First Financial who sold the Money Merge Account http://en.wikipedia.org/wiki/United_First_Financial
AED/UFF has abandoned its MLM agents, sold exclusive marketing rights of the Money Merge Account to Market America (think acres of phone banks) and repackaged the $3,500 MMA as the $49.95/month "ACT Program." The MMA was sold as software to retire your mortgage early and to "save" hundreds of $thousands in mortgage interest, i.e., implied it was a financial gain to spend $3,500 to "save" hundreds of $thousands in mortgage interest. The repackaged "ACT Program" now reduces tens to hundreds of $thousands of scheduled mortgage interest for $49.95/month. You can achieve the same results for FREE by simply paying extra principal every time you pay your regular mortgage payment -- the more extra principal you pay, the earlier you pay it, the shorter the loan term will be and the less interest your mortgage will cost you. The MMA used the same principal-prepayment method but scammy-marketed it instead as proprietary software that achieved the "savings" without disclosing what the actual mechanism was.
The Money Merge Account been thoroughly debunked here http://www.fatwallet.com/forums/finance/741118/ with a Quick Summary on page 1. In reality, you will *LOSE* some $thousands if you use the ACT Program to pay off your mortgage. In fact, mikef07 states at the top of 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" than doing it on his own and that was when the MMA was $3,500. The present value of $49.95/month for ~10 years (assumes you pay a 30-year mortgage in 10 years) at 1% APR compounded monthly (what savings accounts are giving) is ~$5,700 so the $3,500 price for the MMA has been sneakily increased to $5,700 today for the ACT Program. The $5,700 MMA-repackaged-as-ACT-Program means mikef07 will lose 5070.29-3500+5700=$7,270.29 today.
Just google "united first financial scam" and "money merge account scam" and read up on this horrible scam.
The ACT Program falls into a category of scams where the product/service being sold actually works but is unnecessary, or you can achieve the same result with competing software at much lower $cost, or for FREE doing it yourself. If you knew all the ways and costs of achieving the same results, you would *NEVER* buy the ACT Program because you'd be paying big $$$ for something easy that you can do yourself for FREE. The scam is in the marketing using twisted language to obfuscate and confuse like "reducing" or "saving" scheduled mortgage interest that has yet to be paid. "Saving" interest is a stupid concept often used in advertising to confuse consumers. The concept of "saving" interest is stupid because "saved" interest does not leave your pocket. What does leave your pocket is the actual interest you pay, i.e., the interest you get to deduct on your tax forms. "Saved" interest is just a number on paper and totally useless. If a $2 can of beans went on sale for $0.75 and advertised as "saving" you $1.25, you should only consider whether the can of beans is worth $0.75 and should ignore the $1.25 in "savings." Would you be happier if the can was priced at $5? If so, you'll be "saving" $4.25 though you'll be paying the same $0.75 for the same can of beans. Are you any richer by "saving" $4.25 instead of $1.25? Obviously not. The only money that left your pocket was the $0.75 for the can of beans, not $1.25 or $4.25, and the only important measure is whether the beans was worth the $0.75 that left your pocket, everything else is irrelevant.
Folks, don't buy ACT software to retire your mortgage early to reduce or "save" scheduled mortgage interest -- you can do the same yourself for FREE. I paid off a 15-year mortgage in 66 months and reduced scheduled mortgage interest by ~$60,000, all by myself and without software, a spreadsheet or a financial calculator. If I can, you can too, just pay extra principal along with your regular mortgage payment (to the extent possible given the size of your paycheck and other expenses) though it may not be wise to lock up your cash in an illiquid asset (your home) in this housing crisis with ~1 million foreclosed homes on the market and more on the way. The prudent thing to do is to save cash in case you lose your job but does ACT caution you on this? Hell, NO! All ACT wants is your money and it's a fake company! Whatever you do -- *DON'T* buy the $5,700 ACT Program! What sense does it make to give $49.95 away every month for ~10 years to AED when that money can go into your own pockets as home equity if you simply do it yourself?
Beware Tina reports on 13 Oct 2011 http://800notes.com/Phone.aspx/1-877-778-4727/4 that she had to give her credit card info to "hold" a phone appointment with ACT on the next day. Ask yourself what legit business will ask you for credit card info to "hold" an appointment? This is nothing but a barefaced attempt to grab your credit card info. Please don't buy anything from AED or ACT.
STAY FAR, FAR AWAY FROM AED, ACT, AND THE $5,700 ACT PROGRAM AND BEWARE OF SHILLS ON THIS THREAD.
| Jennifer 2011-10-14 18:47:56 Unknown |
We received one today in the mail as well. Seems like a scam to me. Warning signs all over the place. This is obviously a company preying on people who may be struggling with their mortgage. Don't get suckered! If it looks too good to be true...IT IS!
| albert 2011-10-13 23:17:22 Unknown |
Recieved the ACT offer today with this phone number attached. SCAM...Beware!
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