Anonymous
Trouble during payment process: Mortgage
Company 's name : Freedom Mortgage I enrolled in the companys biweekly mortgage payment program because the app represented it as a biweekly payment option. A reasonable consumer would understand this to mean that mortgage payments are transmitted to and applied by the mortgage servicer every two weeks. After contacting customer service, I was informed that the company does not actually send payments every two weeks. Instead, it withdraws funds from my bank account every two weeks, holds those funds, and sends a single monthly payment to the mortgage servicer on the normal due date. This material limitation was not clearly disclosed during enrollment. Had I known the payments were not actually being applied every two weeks, I would not have enrolled in the service because one of my primary goals was to reduce interest by lowering my principal balance sooner. I believe the apps presentation of this feature is misleading and request that the company clearly disclose how the program actually works and provide any appropriate remedy if consumers were misled.