Common Questions About the Equity Plus Biweekly Accelerator Program
1. Is the Equity Plus Program popular?
Yes! There are more than 100,000 members in the Equity Plus Program. We receive calls from hundreds of new customer every day. We provide payment processing to more than 2,000 financial institutions.
2. Who administers the Equity Plus Program?
The Equity Plus Program is a service of Lipsky & Associates, Inc. a Texas Corporation. We are one of the nation’s leading electronic payment providers. Lipsky & Associates processes and secures payments through one of the top five financial institutions in America.
3. Is the Equity Plus Program safe?
The processing of payments made through the Equity Plus Program are highly regulated by Federal Reserve policies, Regulation E, and NACHA rules and regulations. Lipsky & Associates is licensed and bonded in the state of Texas. Lipsky and Associates is registered as a Money Service Business (MSB) with FinCEN (Financial Crimes Enforcement Network) as required by Bank Secrecy Act. Annual audits are performed by the State of Texas to ensure the Lipsky & Associates is in compliance with both the State and Federal Government.
4. How are my Payments made?
Payments are electronically withdrawn from your bank account on the designated transfer dates you elect. Lipsky & Associates sends the payment to your mortgage company on your due date. Payments can be made within your grace period. Interest is not credited to your account during this transaction period.
5. What if I move, refinance, or my mortgage is sold?
The Equity Plus Program will transfer to any lender at no charge. Simply contact our Customer Service Department with your new loan information. The Equity Plus Program works with all lenders, not just one lender specifically.
6. Why can’t I just do this on my own?
Your lender will not accept payments from you other than monthly. The Equity Plus Program allows you the convenience of automatic transfers timed to occur when you are paid to give you the best possible cash-flow. While it is possible to have similar savings be submitting principal payments on you own, studies have shown that most consumers do not pre-pay their mortgages. It takes self-discipline and consistency. The Equity Plus Program is safe, automatic, easy to budget. Stop writing checks. No more stamps or visits to the mailbox. No more worries about forgetting to make a mortgage payment.
7. How much does the Equity Plus Program cost?
At the time of enrollment, you will pay a one-time non-refundable fee. This fee purchases your lifetime membership in the program. Should you purchase a new home or refinance you current loan with a new lender you will not have to pay the paper-work processing fee again. Also there is a small service fee added to each transfer. These fees are nominal compared to the years and tens of thousands of dollars in savings.
8. Is the Equity Plus Program right for everyone?
No, because the transfers are made every other Friday rather then once a month. However we do offer other programs to accommodate other pay-schedules such as weekly and semi-monthly payment schedules.