Reviews

This profile includes reviews for Equity Resources, Inc.'s headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Equity Resources, Inc.

  25 1/2 S Park Pl Newark, OH 43055

  
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  Equity Resources, Inc.

  PO Box 5177 Newark, OH 43058-5177

  

Review Details

• Review fromTheodora V

  Date: 09/18/2024

  1 star

  Theodora V

  Date: 09/18/2024

  Communication between inner departments and to their customers are atrocious. We called customer service to place our escrow on all stop payments until we get our insurance figured out before the new premium starts. This happened September 16th. During the call, I REPEATED MULTIPLE times to not pay anything else. **************** *** assured me multiple times nothing would be paid (30 day hold), and it was on hold. Fast forward until today September 18th. I received an email stating that escrow made a payment! And that the payment was actually made on September 17th! A day after my phone call to request the payment holds! Called them back, after numerous departments, supervisors, to find out that the initial customer service ***resentative only put a short "hours" hold on the account and did not let the insurance department know about the hold. Needless to say, it was paid. The point is, the departments are either not trained correctly, or don't speak correctly. Maybe both. But, what has happened, caused so much more headache with the outside insurance. We are simply trying to get out of any escrow with the company. We did speak with the final supervisor, she did apologize, but however since we weren't properly notified about when they sent the payment, we could not try to stop it sooner. Communication is important. Especially when dealing with someone's home or money. Please, work on being on the same page. We have never had such an issue until this. I pondered posting, but I am just thoroughly upset about it all. It's just caused so much more headache.
  

  Equity Resources, Inc.

  Date: 09/24/2024

  Equity Resources agrees that customer service and communications between departments is essential to our customers. We apologize for any inconvenience and confusion this may have caused. We will reach out to the ******************** and conduct retraining where needed to mitigate the possibility of this happening in the future.

• Review fromAndy W

  Date: 06/11/2024

  5 stars

  Andy W

  Date: 06/11/2024

  I’ve worked with Equity Resources 3 times - great service! Highly recommend
  

  Equity Resources, Inc.

  Date: 06/12/2024

  Thank you for your feedback Mr. Wells. We are pleased to have served you and are here for any future mortgage needs that you may have.

• Review fromKelsey B

  Date: 06/08/2024

  2 stars

  Kelsey B

  Date: 06/08/2024

  This mortgage company makes it impossible to receive help in a timely manner. Once all the paperwork for help works out in 30 days or so you're even more behind. My taxes weren't paid out when there was an adjustment causing me to have to pay what was due on them which is about $200 from 2022 and 2023 and they are still looking into it. They weren't very helpful when we lost our jobs but luckily we figured it out. They stack on the late fees even if posted a day late. They call 5000 a week if mortgage is late, even if you speak to someone. They definitely seem like they are predatory.
  

  Equity Resources, Inc.

  Date: 06/11/2024

  I am unable to locate this person in our system using the name and email provided. I'm wondering if they have the wrong company. Please provide a loan number and property address and we'll gladly research this further.
  

  Equity Resources, Inc.

  Date: 06/12/2024

  In response to your BBB review, we identified 5 late payments in 2024 (January, February, March, April, and May). The mortgage payments were not received on or before the end of the grace period. We do acknowledge that contact attempts were made to establish payment arrangements. We are required to contact our borrowers in the event of a potential default and provide options to bring the loan current. Late fees are assessed on the loan after the 15-day grace period and in accordance with the promissory note for the mortgage loan. Regarding property taxes, we received information on 03/06/2024 about interim tax billing amounts due on the property. Because of a change in ownership, your taxing authority issued an interim tax bill, which would have been sent directly to you for payment. Interim tax bills cannot be set up using the initial escrow account at closing since we can’t predict the amount due, as the taxing authority determines these figures post-closing. We can confirm that these interim bills were paid, via your escrow account, to ensure your loan is in good standing. We believe this fully addresses the concerns outlined in your BBB review. If you have any questions concerning this response or require additional assistance, please contact our Customer Service Department at 1-888-288-1789, Monday through Friday, from 8:00 a.m. to 5:00 p.m. Eastern Standard Time (EST), or our Loss Mitigation Department at 1-866-397-5370, Monday through Friday 8:00 a.m. to 8:00 p.m. CST. We value your relationship and will work towards regaining your trust moving forward.

• Review fromKatie T

  Date: 02/16/2024

  2 stars

  Katie T

  Date: 02/16/2024

  It has been like pulling teeth to get them to remove PMI. First, I didn’t receive several letters they claimed to have sent regarding next steps. Then I sent the county’s tax assessment showing my equity being 60k higher than it needed to be in order to remove PMI, but they claimed to not receive it. I finally was given an email address to send stuff to and a week later I receive a letter stating even though the county’s assessment shows well over what it needs to appraise for, I still have to pay them $150 for their appraisal. They’re just trying to milk it for every dollar they can get.
  

  Equity Resources, Inc.

  Date: 03/17/2024

  We sincerely apologize for the frustrations you've experienced throughout the PMI removal process. It's disheartening to hear that our communication and handling of your documents fell short of your expectations. 

  We understand the importance of transparency and efficiency in such matters, and we regret any inconvenience caused by the delay in receiving letters and the miscommunication regarding the submission of your county's tax assessment.

  To address your concerns and provide clarity on the process, we'll be sending you a detailed letter outlining each step taken and the rationale behind it. Our aim is to ensure you have a clear understanding of why certain steps are necessary.

  We are happy to report that on March 4th, we sent to the mailing address on file advising PMI was
  removed. 

  Once you receive our detailed letter explaining the steps in this process, please don't hesitate to reach out if you have any further questions or if there is anything we can do to further assist you. 

   

   

   

• Review fromAdam q

  Date: 03/11/2023

  1 star

  Adam q

  Date: 03/11/2023

  This company came highly recommended from a friend, in fact she was our mortgage broker. However, shortly after getting our mortgage, she left the company. I can only imagine it is because of the way the run a business. I have been working with th* **** *** ***** **** program with the Ohio Housing Finance Assistance department. I made a payment in October, which I have statements from my bank showing it was withdrawn via autopay. I also have documentation from **** *** ***** where they have sent numerous payments. However, between Equity and their choice of mortgage servicers, ***********, they have seriously dropped the ball. My credit is all jacked up because somewhere between ****** and ***********, the payments that have been sent from ****, have not been posted to my account in a timely manner. Now my mortgage shows late by several months, which has in turn messed up my credit. I have sent 3 messages to Equity via their website and not one has been answered. Sadly, I purchased this home before the rates went up, if not, I would refinance just to get away from them but I cannot afford to have my rate nearly triple.
  

  Equity Resources, Inc.

  Date: 03/20/2023

  We have reviewed the payments from Ohio Housing Finance Authority (OHFA) and in the process on reversing the payments and re-applying them with accurate effective dates. This will also provide updates to the credit reporting for your loan. We expect to be finished with the updates in next 7-10 business days. The credit reporting is controlled by the individual bureaus and can take up to 90 days to reflect the changes. At Equity Resources we pride ourselves on offering superior service and solutions, and we regret when your expectations are not met. We make every effort to serve all in a prompt and professional manner. Therefore, we were disappointed to learn of your displeasure with the service provided to you. We value your relationship and will work towards regaining your trust moving forward. We believe this fully addresses the concerns outlined in your BBB correspondence. If you have any questions concerning this response or require additional assistance, please contact our Customer Service Department at *************** Monday through Friday, from 8:00 a.m. to 5:00 p.m. Eastern Standard Time (EST), or our Loss Mitigation Department at **************, Monday through Friday 8:00 a.m. to 8:00 p.m. CST.

• Review fromLauren S

  Date: 10/07/2022

  3 stars

  Lauren S

  Date: 10/07/2022

  I only went with this mortgage company because it was by the recommendation of my realtor. I bought my house December 2021. Good things- pretty easy process, extremely low rate. Bad things- the first two times they gave me estimated numbers they went off of the home owners insurance from who they use and not USAA even other I submitted that info to them. Then the broker tells me he can get a lower rate if I switch the type of mortgage, ok. The numbers comes back higher- then they realize they didnt use the correct data. Then the broker tried pawning me off to Nationwide thinking Im going to go with them because thats their connection. I thought that was shady. But I kept with my insurance. Then in August I got remarried and received gift money. I asked *************** I worked with (*******************), and servicing. They both said, just do it online. As suspected it wasnt that easy. But thats crappy customer service for you. The third time I reached out. I got a little more info and asked again about recasting my mortgage. Suddenly theres all this information about paying a $300 processing fee and now someone wants to tell me it needs to be $10k. Please educate your people. On top of this I just qualified as a disabled veteran to be exempt from property tax. I asked this question and not getting answers. Less than a year with this mortgage and I already regret this. Stay away.
  

  Equity Resources, Inc.

  Date: 10/12/2022

  We have reviewed the information that was submitted and have tried to reach out to the customer, ************. She didn't return our phone call but did reply to our email. We apologize for any miscommunication about a principal paydown vs a mortgage recast. We will certainly do our best to educate our Loan Originators about when a recast is possible and when it's not. Also, our EVP of Sales gave ************ his information if she needs any further assistance. He'd be happy to offer his personal assistance with any additional questions or concerns she may have. We truly value every borrower and family that we assist with a home loan and are deeply sorry that ************ had a bad experience. Again, we'd like to turn that around if she ever has any additional questions or needs assistance.

• Review fromCraig B

  Date: 05/16/2022

  1 star

  Craig B

  Date: 05/16/2022

  Its been over 30 days and they have yet to return my mortgage escrow. I just called them and they said they sent it out, but without any tracking so if it is lost, I have to wait another 30 days!!!Why they can't put a stop payment on a check and overnight me my legitimate escrow amount is beyond me. If I missed a mortgage payment they would be all over me.Don't do business with these people !!!
  

  Equity Resources, Inc.

  Date: 05/19/2022

  The Loan Officer was able to confirm that our borrower received the check in the mail on 5.18.22. The check was inadvertently sent to his old address and was rerouted to his new address. Because of the reroute, the mail took longer than normal but was sent out timely. Equity Resources apologizes for the address mishap. We value our borrower's business and hope to repair our relationship with him so that we can continue to assist him and his family in the future.