Equity Plus is a simple and easy way to have huge savings on your loans. Instead
of sending a check to your lender each month, the Equity Plus Program will electronically
debit your designated checking or savings account for a portion of your payment
each and every time you are paid. For example, if you are paid biweekly, Equity
Plus will collect one-half of the regular monthly payment plus a small transfer
fee every other Friday timed along with your pay cycle.
These bi-weekly debits add up to 26 half mortgage payments, the equivalent of 13
full mortgage payments, so that each and every year we apply one additional mortgage
payment directly to reduce the principal balance on your loan. If you want to save
even more, we can tailor a program to pay off your loans even faster saving you
thousands more in interest. Anytime Equity Plus collects any additional funds**, we
direct those funds to reduce your principal balance immediately on the next mortgage
payment.
All funds are transferred through the Automated Clearing House under strict regulation
of the Federal Reserve, Regulation E, and NACHA rules and regulations. All monies
are drafted through an account that is licensed and insured with
the Banking and Financial Department. All monies are FDIC insured during the payment
process.
**In the event the client chooses to defer the start-up fee, any additional funds
collected are first applied to the balance of the start-up fee until the balance is collected in full.
Customers may contact Equity Plus at any time to pay the startup fee balance owed by credit card.
