Fantastic assessment. Thanks!

Thank you for taking the time and trouble to type up your letter. It is identical to others', i.e., the scammers haven't changed it so far. Warn your friends.

To satisfy the request of Anonymous post of 7 July 2011; I will enter verbatim the text of the letter I just received that prompted me to look them up on this site. Please let me first express how much I love and appreciate this site, and all the grief you've saved me.  Now on to the letter I received July 21, 2011:

Listing: V013236203
RE: Mortgage Audit
Listing Expiration: 07/22/2011

This notice is to inform you that you may be owed a refund of several thousand dollars on your mortgage that funded 02/22/2007 in the amount of $XXX,XXX.

Based on city and county records your loan as well as many other loans may have been overcharged or miscalculated several thousand dollars.

While refunds vary, amounts owed can range as high as $1,500 to over $7,800.00.

A consumer analysis is available to those that receive this notice. This analysis is provided to determine refund eligibility and interest reduction options with no refinancing required.

Call now toll free at 1-888-620-9163 for further information. As a part of this mortgage auditing and refund service, please reference eligibility: V013236203 when calling.

Notice: Those that have previously received an interest reduction option or payment refund, please disregard this notice. Individual qualifications required. Call 1-888-620-9163 for further information.

(fine print)
This is not an offer to refinance; no refinancing is required under this option. This notice does not constitute a refund or interest reduction. This is not a mortgage modification offer. Loan information displayed is used solely for review validation and is available through public record. This is not a government offer. Certain conditions apply. Copyright, ACT. All rights reserved.

*This was only a letter, not a phone call*

Thanks for posting this, I actually received a postal mail with this offer to refund some of my mortgage due to overpayment. Looked all over for info on this ACT company and found nothing. I googled the phone number and found this post. Thanks for saving me the aggravation I would have gone through had I had called them!

Yes, Maggie, I do. I came to this thread from http://800notes.com/Phone.aspx/1-866-688-5904 (if you don't see it on page 1, it may have been pushed down to page 2 or 3 by new reply posts) where poster "JR Prince" replied to "CD Parker" on 5 Jul 2011 that 888-620-9163 is the number on his/her letter. This may be a mortgage-audit scam. They ask for $149 up front to find errors on your mortgage papers with refund if they don't find anything. Of course they will find SOMETHING and keep your $149. The analog I use is would you let me audit your roof with the same refund offer? I'm going to find a single loose shingle and keep your money. The money spent on the vast majority of roof audits is a waste since most roofs don't leak even with loose shingles. Ditto for mortgage audits. Also, your alleged "refund" is only what they *SAY* is your refund and *NOT* cash in your hand. Who decides if this is a legit refund? Them? Your lender? A third party? Who? What if your lender disputes it? Think your lender will pay up just because some stranger you paid $149 to says so? Your lender has a signed, legal mortgage note in hand and will fight you tooth and claw for any refund. You'll have to hire an attorney at $hundreds/hour with uncertain outcome for months/years.

The company is AED = Accelerated Equity & Development but doing business as ACT = Accelerated Cashflow Technologies.
BBB listing http://www.bbb.org/utah/business-reviews/fore ... per-ut-10061629 that states "Beginning in 2010, the BBB began receiving numerous inquiries from the public regarding a mass mail campaign conducted by Accelerated Equity & Development, Inc, also known as ACT. The BBB has contacted the company and requested information and possible modifications based on the BBB's Code of Advertising Guidelines. The company has been asked to address concerns about the solicitations' ambiguity, layout and results expected from service advertised. The company is currently working with the BBB to address these concerns."
Wikipedia entry for United First Financial links AE&D to UFF 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 "refunds" hundreds of $thousands of interest "overcharges" at $49.95/month *without* needing to hire an attorney at $hundreds/hour to get those "refunds." You can do the same 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 $149 mortgage audit is just to lure potential victims (that's you!) to call up and give ACT salesfolk a chance to sell you the ACT Program. The $49.95/month ACT Program is just a new name for the old $3,500 Money Merge Account that's 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 buy the ACT Program. 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.  

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 "refunding" or "saving" future 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, DO NOT BUY ANY PROGRAM TO RETIRE YOUR MORTGAGE EARLY AND "REDUCE" OR "SAVE" OR BE "REFUNDED" MORTGAGE INTEREST --- YOU CAN DO THE SAME YOURSELF FOR FREE! FREE! FREE! I paid off a 15-year mortgage in 66 months and was "refunded" tens of $thousands in mortgage interest (ahhh, the language of scammers!), all by myself and without the $3,500 MMA (forerunner of the $5,700 ACT Program), 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. 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 could go to paying down the principal on your loan instead?

STAY FAR, FAR AWAY FROM AED, ACT, AND THE $5,700 ACT PROGRAM AND BEWARE OF SHILLS ON THIS THREAD.

All mortgages are public info from the local county office or the local court, I forget which.

Yes, I received a same notice letter with the same phone number 888-620-9163. I do not know how this company get the information of my mortgage that was 14 years ago.

I posted that long post above and want to ask folks to always include details whenever you think you may have received something from a scammer. Details help in pursuing scammers as they change company names, numbers, websites, scams, etc. Had JR Prince not posted this phone number and had folks not posted "ACT," I wouldn't have known what exactly to post in the my warning above. Details, please. For example, was bermudababy's "received information from this number" above from a human or a robot? Every little tidbit helps. I've bookmarked this page and will come back to read the details. Thanks in advance.

Re. "Is this a legitimate company," yes and no. Scammers use and hide behind multiple company names to confuse consumer and mislead law enforcement. The company is actually AED=Accelerated Equity & Development Inc. doing business as ACT=Accelerated Cashflow Technologies and apparently operates a phone bank called the ACT Servicing Center to talk victims into buying the ACT Program. This company operates just on the right of legit on the line between legit and scam. It has operated for years without fear of prosecution because the expensive software it sells does work but you can do what the software does yourself for FREE and save yourself $thousands. The scam is in the marketing it uses to convince victims to buy the software. Once you buy it, you're done for because there is no $refund. You cannot collect on the works-if-used-as-prescribed guarantee AED gives because the product does work and isn't defective, and if you complain you were scammed $thousands for something you can do yourself for FREE, AED will say you've buyer's remorse, the guarantee doesn't cover that.

The $149 mortgage audit is just a lure and is petty cash to AED; the *real* money for AED lies in selling their $49.95/month ACT Program software whose lump sum value is ~$5,700 (the present value of $49.95/month for 10 years at 1% APR compounded monthly).

The link between AED and ACT=Accelerated Cashflow Technologies is revealed by "Response to Susan" on 14 Apr 2011 here http://whocallsme.com/Phone-Number.aspx/8776705577/2   The video on their website falsely links actual $refunds obtained in court or out-of-court legal settlement between state AGs and lenders (mostly resulting from charging/witholding excessive mortgage escrow averaging a few $hundred/borrower) and false "refunds" of "overcharges" of future mortgage interest on your mortgage loan. It's a freaking *REACH* to refer to future $interest that's *never* charged in the first place (if you make early principal payments) as "overcharges" that can be "refunded" if you will only buy their ACT Program software. Twisted language and false definitions are the currency of scammers.

AED's Utah business license here https://secure.utah.gov/bes/action/details?entity=1429559-0142
No Utah business license exists for Accelerated Cashflow Technologies. You can search for yourself on Utah's business licensing website here https://secure.utah.gov/bes/action  Does the state of Utah even *KNOW* that AED is doing business as ACT or the ACT Servicing Center? Do you want to do a money deal with a DBA "company" that is not registered with the Utah state Gov?

Read Daniel Wilson's 17 Jan 2011 "explanation" of what the ACT Servicing Center does here http://800notes.com/Phone.aspx/1-877-676-5529

I came to this thread from http://800notes.com/Phone.aspx/1-866-688-5904 (if you don't see it on page 1, it may have been pushed down to page 2 or 3 by new reply posts) where poster "JR Prince" replied to "CD Parker" on 5 Jul 2011 that 888-620-9163 is the number on his/her letter. This may be a mortgage-audit scam. They ask for $149 up front to find errors on your mortgage papers with refund if they don't find anything. Of course they will find SOMETHING and keep your $149. The analog I use is would you let me audit your roof with the same refund offer? I'm going to find a single loose shingle and keep your money. The money spent on the vast majority of roof audits is a waste since most roofs don't leak even with loose shingles. Ditto for mortgage audits. Also, your alleged "refund" is only what they *SAY* is your refund and *NOT* cash in your hand. Who decides if this is a legit refund? Them? Your lender? A third party? Who? What if your lender disputes it? Think your lender will pay up just because some stranger you paid $149 to says so? Your lender has a signed, legal mortgage note in hand and will fight you tooth and claw for any refund. You'll have to hire an attorney at $hundreds/hour with uncertain outcome for months/years.

The company is AED = Accelerated Equity & Development but doing business as ACT = Accelerated Cashflow Technologies.
BBB listing http://www.bbb.org/utah/business-reviews/fore ... per-ut-10061629 that states "Beginning in 2010, the BBB began receiving numerous inquiries from the public regarding a mass mail campaign conducted by Accelerated Equity & Development, Inc, also known as ACT. The BBB has contacted the company and requested information and possible modifications based on the BBB's Code of Advertising Guidelines. The company has been asked to address concerns about the solicitations' ambiguity, layout and results expected from service advertised. The company is currently working with the BBB to address these concerns."
Wikipedia entry for United First Financial links AE&D to UFF 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 "refunds" hundreds of $thousands of interest "overcharges" at $49.95/month *without* needing to hire an attorney at $hundreds/hour to get those "refunds." You can do the same 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 $149 mortgage audit is just to lure potential victims (that's you!) to call up and give ACT salesfolk a chance to sell you the ACT Program. The $49.95/month ACT Program is just a new name for the old $3,500 Money Merge Account that's 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 buy the ACT Program. 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.  

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 "refunding" or "saving" future 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, DO NOT BUY ANY PROGRAM TO RETIRE YOUR MORTGAGE EARLY AND "REDUCE" OR "SAVE" OR BE "REFUNDED" MORTGAGE INTEREST --- YOU CAN DO THE SAME YOURSELF FOR FREE! FREE! FREE! I paid off a 15-year mortgage in 66 months and was "refunded" tens of $thousands in mortgage interest (ahhh, the language of scammers!), all by myself and without the $3,500 MMA (forerunner of the $5,700 ACT Program), 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. 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 could go to paying down the principal on your loan instead?

STAY FAR, FAR AWAY FROM AED, ACT, AND THE $5,700 ACT PROGRAM AND BEWARE OF SHILLS ON THIS THREAD.

I received information from this number. the company is called ACT Servicing Center.  I've never heard of them and I can't find anything on the internet when I Google them either.  I won't give them my information for fear they may not be a true organization that says I may have paid too much on my mortgage and may be owed money.  It sounds too good to be true.  Is this a legitimate company?

I received a notice asking me to call this number as I may have been charged too much on my mortgage.  I want to know if the company is legitimate or not.  There was no letterhead just ACT in the right hand corner.