ED Magedson – Founder
Nationwide Biweekly AdministrationInternet USA
Nationwide Biweekly Administration RIPOFF, LIARS, MISREPRESENT, EXPENSIVE, DOES NOT PAY YOUR HOUSE OFF FASTER, TOTAL BS Internet
We bought our house 4 years ago, we were looking to lower our interest rate and the years we pay, so we had intended on paying twice a month. Nationwide sent us information almost immediately how they could cut years from our mortgage saying Wells Fargo will accept their payment it will shorten the length of our mortgage and will go towards the principle.
Well, none of the above happened, not only did Nationwide Bi Weekly only make 1 monthly payment to Wells Fargo, but they took it out twice a month, making it appear as if they were paying Wells Fargo twice a month and charged us $7.00 per transaction.
So, I called Nationwide Biweekly and after waiting for hours to speak to them, they said if I paid an extra $100.00 a month it would go 100% towards the principle, and would greatly reduce the years to my mortgage from 29 to 17 years.
When I received my statement from Wells Fargo, seems only $11.95 went to the principle the rest went to interest.
I am so done with these crooks, I would love to sue them, they are the WORST!
This report was posted on Ripoff Report on 07/01/2013 02:04 PM and is a permanent record located here: http://www.ripoffreport.com/reports/nationwide-biweekly-administration/internet/nationwide-biweekly-administration-ripoff-liars-misrepresent-expensive-does-not-pay-y-1063623. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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