877-676-5557

They are United First Financial, LLC

BBB has them with an A- rating based on an A+ - F scale. I haven't personally spoken to them but they look legitimate.

May 18,2010...Got a letter in the mail for the following:

     A Community Programs Division of  ACT
     Property Eligibility ID #A######

     Projection reduction : $38,750.00 based on City & County records.  You are eligible for
     this reduction. Not all homeowners qualify....etc.....bull.....bull...bull....etc

     I am not calling this number either..........sounds like a acam to me !

It looks like a refi to me.

I got the same letter.  They say it's not a refi...could it be bi-monthly payments?

I have a letter  stating the same. It appears in the top left corner of the page: A Community Programs. Division of ACT, and then Property Eligibility ID: etc.

The disclosure at the bottom of the page states, this is NOT a Goverment offer, this is NOT a refiance and no refinancing is required under this option. ACT is not affiliate with (XX Bank)

I should call Dave Ramsey's Show and see what they can expand on this for us.

I've called and am eligable! For what, I still don't know. It came to me through my mortgage company, Churchill Mortgage, who I trust. We'll see what it's about tomorrow when I get the call. It is a bit weird, but so far no major red flags.

My bet is it didn't come "through" your mortgage company - mortgages are public information that are filed with the county, so anybody can see who your mortgage is with and put that on a letter.

I received the same letter. Here is more info - the company is marketing the program described at http://www.unitedfirstfinancial.com/Home/MMAProgram.

Thanks, BJV.  Very helpful response. (and yes if people would look closely the letter says it is not affiliated with your mortgage holder).

Thanks, BJV,
your response answered some questions I couldn't find out for myself.

Total BS. This program uses your mortgage as a line of credit. All of your monthly income goes into an account with Ufirst Financial and whatever your balance is at the end of the day is applied to your mortgage balance.  As soon as you write a check or swipe your card your mortgage balance goes back up.  The result, savings in time and interest.  Again, total BS. Using your loan as a giant line of credit is a disater waiting to happen.  There are, I'm sure, a few cases of individuals who the program worked for leaving the vast majority in over their heads. Its simple - be wise, make bi-weekly payments (or add 1/12 payment to each monthly payment) and you can pay off a 30 year mortgage in rougly 22-23 years and save 10's of thousands in intrest.  No fees, no gimmicks, no bull.  Just discapline.  I know this Ufirst program charges a rediculous fee for the service and program to run the gimmick.  Should be outlawed.

Thanks all for the info did had my atty. look into this and he states that this is a scam. They will charge you a very large fee to consolidate all your debt into a line of credit using your mortgage if you fall short of the funds needed at the end of the day then its your mortgae that dosent get paid in full that month. No thanks I say. I will stick to my sending 1 extra payment every quarter and pay my mortgage of early that way.

Run away people! It's this kind of company and this kind of program that caused the financial crisis we're in.

So, could you please explain that a bit further for me ....??  1/12 payment added to each monthly payment?  If I have a mortgage of $1000 per month, what would that amount to?

I didn't get a phone call I got a letter today. Same heading on upper left corner as described above:
A Community Programs
Division of ACT
Property Eligibility ID: A46#####P

This notice is to inform you that you may be owed a refund of several thousand dollars on your mortgage that funded on (Date) in the amount of $(dollar amount).

Through government studies it has been brought to or attention.........your loan may have been overcharged several thousand dollars.

The average refund is $1500.00 to one third of refunds equal $3000.00 to $10,000.00.

The toll free number on my letter was 877-342-4308.


The disclaimer in the footer says this does NOT constitute a refund or interest reduction. It is NOT a mortgage modification or solicitation offer. My information was obtained from public record. This is NOT an offer to refinance. Refinance is NOT required and this is NOT a government offer.

I spent time entering all this information because to took me reviewing all previous entries to piece together we are talking about the same letter. I'm not going to call but I did scan and send this letter to my mortgage company asking if this was a scam and if they had seen anything like it. The mortgage company president is a life long friend since first grade we're both 50 now. I know he gave me the best deal available and didn't pad it with any additional or unnecessary expense.

If this is an early mortgage pay off then the above entry, add 1/12 of monthly mortgage to your monthly payment and reduce a 30 year mortgage by 7 to 9 years and save tens of thousands in interest over the life of the loan.

You can discipline yourself to do this using your pay schedule. But in order for this to work you must make the extra payment not missing any. This is manageable if you divide the one monthly mortgage equally among your payroll income frequency. For example:

If you get paid monthly use the 1/12 method. Divide your monthly mortgage by 12 add the result to each monthly payment.
If you get paid twice a month do the same or divide the monthly mortgage payment plus 1/12 mortgage payment by 2 and pay that amount twice a month.
If you get paid every two weeks there are two months each year you get three pay checks separated by six months. Another word if you get three pay checks in March six months later in September you get three pay checks. The next year three pay check months will be April and October next year May and November etc. Make 1/2 mortgage payment every two weeks. At the end of one year you will have made one extra mortgage payment.

There are companies that charge a fee up to a couple hundred dollars a year to do this. Why pay anyone anything to do something you can do for yourself for free.

Thank you for all your info.  I just got the letter today and was VERY unsure about it.  It is now shredded.  Thanks again for all your info.

Thanks for all the input and heads up.  If it sounds too good to be true... it is.

Amy,

Take your $1000 payment and divide it by 12.  That's roughly equal to an extra $84 per month.  If you decide to do this, make sure that your bank / mortgage company applies the extra amount directly to the principal of your loan.  That's the only way to get the mortgage paid off early.  If you don't specify this, the affect will be that you just end up paying ahead on your mortgage and not reducing the principal on which the interest is calculated.

Thank you for confirming what i had assumed.

Got this same bull**** letter today. I know it's garbage because it claims we have a mortgage of 84K, while in reality we have no mortgage at all!!  They must just look at the public records (which in our county are conveniently available online to anyone), note the sales, and figure that we must have put a mortgage on the place, cuz, gee, doesn't everyone? Well, we didn't. This proves they're not on the up and up.