Freedom Mortgage Corp

Review: Freedom Mortgage Corp charges a $295 fee to enroll in their "Equity Accelerator Program" which changes withdrawals to a biweekly schedule. They also charge a $5.42 monthly participation fee for this program that can only be conducted by ETF (direct withdrawal from bank account). ETF's are basically minimal to almost no charges to banks, why should customers pay a surcharge of $5.42 per month when the bank is already making +$900/month on interest payments (a loan with $300 to principal). There are so many bogus fees that banks charge, when in fact they depend on customer deposits, to leverage their own money and sell it back to the public for a higher rate. A bank pays 0.005% interest to customers but charges 5% when it uses your money to make a loan? This is highly unfair and to top it off they want to charge me another $295 start-up fee along with a $5.42 monthly charge when it benefits the bank from chasing my checks? A book of stamps will be covered by 2 months of payments, checks are fee, so what is the $5.42 a month for? Banks can also borrow money form the FED whom has set the near term interest rate near zero, so why all the fees? I understand we all want to make money; however, the interest rate on the principle is already well over 300%. All these fees are nonsense and cheap ways for banks to make more money. Why should the public be ripped off more than they already are?Desired Settlement: Wells Fargo does not charge any fees for a start-up of an "Accelerator Program", nor do they charge for monthly EFT fees because the bank benefits from lower costs of direct withdrawals (versus processing checks) and on-time payments. Customers are already paying an arm and a leg for interest payments so why can't banks be more user friendly? They should be ashamed for the greed that they consume.

We wanted to refinance our house at the beginning of March. It is now the middle of June and they still have not closed. Every week they are looking for something else, and every time something is sent to them they claim they have not received it. Customer service is awful! If I do not email for an update I would never hear back from them. It usually takes 3 emails before someone gets back to me.

Worse experience ever!