Possible Scam?

Plummet

My Parents have been looking to refinance their home for a while now. Big tax mistakes in the Janitorial Business have left them stranded financially. I have been able to help steer them away from potential problems with some of these fly by night credit councelers and refinance companies with the help of google. Now they are looking into a Financial Solution that a "Brother" is offering and I need your help.

This "Brother" that they barely know has offered to help pay off their mortgage and other bills in 1/3 the normal time through a company called United First Financial. I really don't feel right with this guy or company so I searched for info about it on google and I can only find ads about them. I can't find any dirt on them like I usually can with other companies. There is nothing bad in google, epinions or ripoffreport.

United First Financial is from the parent company Accelerated Equity & Develpment and was started by Skyler Witman and John Washenko in Denver. They spent $2 million on research and development and hired some mathematical engineer from GE to create this program. From what I see you make your payments to them and they pay your bills.

So here is my question have any of you heard about or delt with this company or the system of debt payment? For me if it sounds to good to be true it probably is. Since it is a "Brother" selling it they are all for it. I really don't want to see another brother walk all over them again, I have seen it too many times.

Thank You for your help

Plummet

nelly136

http://www.sec.gov/litigation/litreleases/lr18886.htm is this the same firm, the peoples names are different to the ones you gave?

if this bloke is offering to 'help' with this service does that make him a broker and mean he's getting commission for 'helping' them?

could they cut a better deal minus the 'broker' by going direct to the company and cutting out commission for the middleman?

what is he getting out of it?

and the golden rule....... if it sounds too good to be true then it usually is.

Snoozy

I'm sure they will all receive a portion of the pot!

If they could talk to their creditors themselves they could save a lot. They (the creditors) may lower their rate and if they are able to refinance at a bank they would be much better off.

I considered refinancing one time and talked to a credit union..the rate was great and I would have paid my house of 10 years earlier..but when I kept questioning I found out I was going to be paying them $6,000. to do this up front!They didn't think I could do the homework..Idiots..

If the house rate is pretty high it would definately pay to refinance at a lower rate..but make sure they aren't hiding a bunch of outrageous fees in the refi.

Usually a bank is a good way to go.

If their credit is bad they may have a higher interest rate but the way banks figure the interest is better than the way credit companyies do and you end up paying a lot less.

Did you know one place may offer a really low interest rate and another place may have a higher interest rate and yet the higher rate..because of the way they calculate the interst may be less payment a month, less interest..and pay off the principal faster ?.

Be sure you find out how much the payment will be and when it will be paid off.

Also be wary of paying someone else to make the payments..this is a well known scam among insurance agencies and financial advisors..

They collect all their customers money and don't make the payments..it takes a while before it catches up to them ..late notices of course come to them so you know nothing about it..and then next thing you know they are on a permanent vacation ..with your money!

And you get stuck more in debt than you were..

Snoozy...

abbagail

Ask Bud Hibbs - "America's Consumer Credit Expert" about that company you mentioned. I bet he would know, or if not, he'd know how to find out if they are "legit."

http://www.budhibbs.com/

Credit Expert - Bud's helped millions with credit & financial problems:
Ph. 817-589-4284
Fax. 817-361-8868
PO Box 11917
Ft Worth, TX 76110

About Bud Hibbs here:
http://www.budhibbs.com/about_bud_hibbs.htm

Even though his site is not specifically geared to mortgages and refinancing, I still bet he would know/have an opinion on your scenario and that company.

/abbagail

cruzanheart

I wouldn't do it. The problem with inserting a third party into your bill-paying process is that all too often said third party takes your money but doesn't pay your bills. So if you want to give that third party the opportunity to buy a Mercedes with your hard-earned cash while setting yourself up for foreclosure, by all means go ahead.

It may be perfectly sincere and legitimate, but I don't think it's worth the risk. And religion doesn't make a man honest, as most of us on this board have found out.

Nina

zack

It sounds like a scam to me. They should seek the help of a CPA who could recommend to them a plan of action, including 3 or 4 banks

who could help them. Banks are in the business of making money. If there is a legitimate profit to be made the banks will help your

parents. If the banks will not loan them money, how is a third party going to help? Please encourage them to be very cautious.

And one final word of advice for them; NEVER DO BUSINESS WITH A JW!

Zack----

sspo

Don't use the " brother", i had my worst experience with a JW and never had any problems with outsiders.

The bank is best way to go for refinance or a mortgage company.

betta

I do not have a home mortgage and I'm not involved in United First Financial in any way. United First Financial does NOT, however, PAY BILLS for folks. It's strictly software that gives signals to the USER, utilizing a legitimate and widely already-available bank product. I was only just investigating it tonight to find out what it was all about. Please listen to this video to get information regarding exactly how it works. http://www.xmission.com/~u1st/mma100.html That being said, I can only say that I wish it were available strictly on a CD as opposed to being accessible only online, no matter if the cost were adjusted. It seems like a super idea. Wealthy folk who have professional money managers already know how to use the "system" to their best advantage. The rest of us just seem to plod along, thinking that we "can't." I'd just encourage you to listen to this video, sheerly because this thread seems to be based on some incorrect assumptions at this point.

Possible Scam?

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