US Bank Accelerator
August 8, 2005 5:34 PM Subscribe
Is the US Bank "Equity Accelerator" program really as good as it sounds? Are there any downsides or risks that I should be aware of while considering this program that claims to pay off my mortgage 7 years early?
posted by gus to Home & Garden (11 answers total)
The program would split my monthly payment in two (2 payments a month) and would end up costing about $4 more per month. I will have to pay with an automatic withdraw from my bank account. They claim that I will save $30,000 in interest payments and have my mortgage payed off over 6 years earlier.
So what's the rub- what pitfalls and downsides should I be looking for? Also, how are they making money of this deal?