I enrolled into this biweekly mortgage program administered by National biweekly Administration, Inc under the impression that paying the mortgage biweekly would result in 28% interest savings based on how interest on the loan was compounded as stated in their advertisement.
Interested in this opportunity to save money I contacted this company and spoke with Maria in sales (they don't give last names). At that time I told them that I was in the military and had a limited amount of time in this home and expressed a desire to get started as soon as possible in order to maximize my savings. A deposit of $195 was paid via debit card over the phone purchase and cleared my account on 26 Jan 06.
The expectation was that this company would perform Biweekly draws from my checking account in order to reduce the number of years that it would take to pay off my mortgage from 30yrs to 23yrs but more importantly increasing my profits when I sold my home in 3 years. On Feb 11, 2006 I signed the final paperwork after receiving it in the mail.
The initial start date for my first draft as documented in my initial contract was 1 Mar 06. This date came and went without the company performing the duties that were agreed upon in the contract. On the passing of this date, I contacted them once again on 18 Mar 06 to find out what had happened to cause them to miss our proposed start date and was told by them that they didn't have a start date and that they had been trying to contact me but had been unsuccessful. I found no truth in this statement. I have both a cell phone and voicemail on my home line and had received no calls requesting that any action needed to be taken.
Still willing to participate in the program I set a new start date of 5 May 06. This date also came and went without the program starting. There were several more attempts by me aimed at resolving this situation from then to now but more recently I finally called requesting a refund of my money for breach contract as they had not performed any of the services as promise and again I was told that they had been trying to contact me and it was "I" who had been unresponsive to "their" requests to set a start date.
To date they maintain that I never called them however I have documentation of the original start date as well and a confirmation letter from them after I called to change my mortgage company information after my mortgage was sold to another company. I could not have possibly have gotten a confirmation letter for updated information had I never attempted to contact them.
This company has held on to my deposit money for the past 5 months without any exchange in services. I have tried to accommodate them as best I could by promptly contacting them after receiving word that the agreed upon actions had not taken place each time and have allowed them ample opportunity to reschedule my program start date to no avail.
Recently I filed a complaint with the BBB of Dayton, OH and they have made contact with the compant. They have two weeks to respond.
San Antonio, Texas
U.S.A. STOP! ..before you think about using the Better Business Bureau (BBB)... CLICK HERE to see how other consumers were victimized by the BBB's false or misleading information. Don't be fooled! It has been reported, when there are thousands of complaints and other investigations underway by authorities, the BBB has no choice but to finally give an UNsatisfactory rating to a BBB member business that is paying the BBB big membership fees every year. When a business is reported that is NOT a BBB member, BBB files WILL more likely show an UNsatisfactory rating, then reportedly shake down that company to become a member of the BBB. One positive thing about the BBB is, either way, if a business has an unsatisfactory rating with the BBB, you can be sure, the business is bad. But what about all those BBB member businesses that had complaints filed against them? Consumers never get to hear about them. What about the BBB advertising to the public? Is this a false and misleading perception they are giving about consumer confidence when dealing with a business? Click here to understand more of what consumers and business alike are saying about the BBB. You decide. ..Remember. The BBB membership is not earned, it's paid for!