Complaints

This profile includes complaints 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

  
• 

  Equity Resources, Inc.

  PO Box 5177 Newark, OH 43058-5177

  

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:07/08/2024

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Equity Resources placed an auto-pay on my mortgage without my approval. I contacted Equity Resources on 7/8/2024. I was told that only I could have changed the status to auto-pay. I clearly did not turn on the auto-pay as my advisor and I review all changes to payment methods and automation. I ask only that Equity Resources return the funds and the $60 in NSF fees that resulted from their error.

  

  Business Response

  Date: 07/12/2024

  BBB Case Number: 21958528 

  Dear ***** * ******: 

  Thank you for the opportunity to respond to the concerns you recently submitted through the Better Business Bureau (BBB), which we received on July 9, 2024. In your correspondence, you stated we set up automatic payments on your account without your approval. When you contacted us on July 8, 2024, you were advised that only you could have enrolled your loan in our Automatic Payment Program (APP). You stated that you did not turn on automatic payments for your loan as you reviewed all changes to your payment methods and automation with your advisor. You requested that we return the payments and refund you for the $60.00 in non-sufficient funds (NSF) fees that resulted from this situation. We have reviewed your concerns, and our response is indicated below. 
  

  We have thoroughly reviewed your account and can confirm that your account has not been previously enrolled in our APP. Upon review of your payments, we reflect that we received your payments on July 6, May 2, March 10, and February 28, 2024, which were initiated by you through our online portal. Additionally, while late charges were assessed to your account on January 16, February 16, April 16, May 16, and June 17, 2024, each in the amount of $26.08, no NSF fees have been charged to your account by this office. The NSF fees you are referring to were charged by your bank. We are unable to honor your request that these fees be reimbursed as a result of this matter. A copy of your payment history is enclosed for your reference. 

  To research this further, we ask that you please submit documentation substantiating your dispute. Documentation might include a letter from your bank or a copy of your bank statement showing sufficient funds available at the time of payment. Your bank statement must show transactions and balance information for ten days before and after the returned payment. This information can be forwarded to our Research Department at the following: 

  **********

  Email: ************************************

  ***********************

• Initial Complaint

  Date:02/06/2024

  Type:Customer Service Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Equity Resources, Inc processes my mortgage, along with my escrow associated with my mortgage. I received the property taxes from my county back in October. The same notices were sent to Equity Resources, per my county’s tax assessors office. It was for two parcels of land.

  I received notice in mid-December that one notice had been paid, but not the other. I called Equity Resources on 12/22/2023 and subsequently emailed a copy of the tax notice that was not paid. I emailed again on 1/10/2024 as to the status of the payment, but got no response.

  I called 1/11/2024 to find out the status. I was told that an inquiry was being conducted, and I would receive the results by 1/26/2024. I also informed the woman I spoke with of late charges and was told that Equity Resources would pay those, if they felt like it was their fault. I never received notification of the status of the inquiry.

  I called 2/6/2024 and was told, again, that an inquiry was being conducted, and I would receive notification in about 5 business days.

  The penalty has now increased to $163.75 for being late. Given the previous inaction by Equity Resources regarding this process, I have very little confidence that the inquiry will be completed within 5 business days, if one is even being done at all. Furthermore, I expect that Equity Resources will come up with some reason as to why this isn’t their fault and refuse to cover the late fees.

  All I want is to have the outstanding taxes paid (the escrow has more than enough in it), and Equity Resources to cover the late fees, and get it together. These are important matters that affect real people.

  

  Business Response

  Date: 02/09/2024

  ************
  

  Dear ****** ***********
  

  We have reviewed your concerns and our response is indicated below.
  

  In your review of your message, we identified an issue with the parcel number provided by the closing
  attorney at loan origination. This caused our servicing system to be looking for taxes on the wrong
  parcel and why you saw the tax bill not being paid. Thank you for providing a copy of the tax bill. We
  have updated our system, and we are paying the base tax amount of the tax bill from your escrow
  account as of 2/8/2024. Our office will pay for any late fees, penalties or interest associated with this
  tax bill. Thank you for your time and patience with this matter.
  

  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.
  

  Sincerely,
  Equity Resources, Inc.

  Customer Answer

  Date: 02/09/2024

  I accept the business's response to resolve this complaint.
  
  Regards,
  
  ****** ***********

• Initial Complaint

  Date:07/18/2023

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I'm in the process of buying my first home. Equity Resources came highly recommended from a good friend of mine. I had initially tried a different mortgage company and Equity Resources assured me that there would not be a Hard Inquiry on my credit since I had already done one 15 days prior. The date of the transaction was 5/15/2023. I paid no money to the business. They told me they would be getting in touch with me after I provided all necessary documentation, letting me know what my loan amount would be. I reached out to them on 5/26/23 to ask for an update. Unfortunately, the person helping me with this, suffered the loss of a family member. I was completely simpathetic and instructed her to reach out to me when she could. I again tried to reach out to them on the following dates: 6/9/2023 6/27/2023 7/18/2023 The nature of this dispute is for Equity Resources Inc to take off the hard inquiry off my credit report since nothing came from it. I'd like to still be able to find a home in the near future and need my Credit Score to be in top shape.

  

  Business Response

  Date: 07/21/2023

  We have reviewed the concern of Mr. ****** and phoned Mr. ****** to review his concerns on 7/21/23.

  Unfortunately, we are not able to remove an inquiry as requested, because credit was indeed pulled for Mr. ******** request for review for a mortgage loan.  This does require Equity Resources to pull credit and review credit information which results in an inquiry on the credit report.

  At Equity Resources we pride ourselves on offering superior service and solutions, and we regret it when your expectations are not met. We make every effort to serve all in a prompt and professional manner. We value your relationship and will work towards regaining your trust moving forward.

  Customer Answer

  Date: 07/27/2023

  It seems that only after I filed the complaint, did somebody finally reach out to me to to get more information. I thank everyone for their time but I will no longer be utilizing this company.
  
  Regards,
  
  ***** ******

• Initial Complaint

  Date:03/01/2023

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My Husband and I were in a forbearance. Within the time of the forbearance I applied for assistance from the NCHAF and was awarded over $14,000. Equity resources help the money from June of 22 to just recently when it was given back to the NCHAF program. I was awarded my deferment amount as well as three months of future payments which would have been for July 2022, August 2022, and September 2022. I started making my normal payments in October when I was supposed to. Equity resources closed my forbearance and deferred the amount of $9442.00 plus some other escrow amount. They never contacted us to tell us the money could not be used and when we called all we received was statements that our account was under review and we were now behind. We were told they hadn't received the money. We asked for a supervisor to return our calls many many occasions and never received a call back from them. It was to the point that I reached out to a Supervisor from the NCHAF program and Equity will not even answer them or give them the info they need n a timely manner. Now I am stuff behind and on a loan modification. The window for NCHAF to help me or to see if they can help me is closing and Equity resources will not send them a debt verification. Our mortgage is going to $950.00 at this point because of escrow not being paid in. I requested they send debt verification last week on 2-22-2023 after NCHAF requested one on 2-1-2023. They literally screwed me out of the award. They said the forbearance was closed that is why they couldn't apply the funds. We called them and told them we were applying and they knew we were applying because they sent the info the first time. So I am not understanding why the forbearance was deferred they just didn't apply the money. Or at least to the payments that were meant for future ones. I filed a complaint with CFPB as well and they did not give a response other than what I said in my complaint.

  

  Business Response

  Date: 03/06/2023

  March 3, 2023**** ***** ********* ******* * ***** *************** ** *****RE.: Loan Number: 1472090651BBB of Central Ohio Complaint 19519071Dear **** ***** **** and ***** ****,We have reviewed your concerns and our response is indicated below.On June 21, 2022, we received verbal acceptance to proceed with a deferral of your loan. The loan deferral was processed on your loan on June 28, 2022.  Our records show on August 6, 2022, we received a payment from NCHAF in the amount of $12,245.90 for reinstatement and $830.86 for unemployment.  The payments were not applied to the loan as your loan is in a deferment status making you ineligible for participation in the NCHAF plan.On January 17, 2023, a trial modification plan was setup for February 1, 2023, through April 1, 2023, in the amount of $771.82. The first trial payment was received on January 16, 2023. On February 16, 2023, the second trial payment was received and posted as of February 15, 2023. We have also received an updated application from NCHAF on 2/7/2023.  We have processed and returned the record back to NCHAF on 2/23/2023.  At this point we are pending a response from the state on your application.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.Sincerely,Equity Resources, Inc.