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  1. #17
    Join Date
    Jun 2010
    Posts
    1

    Re: Mortgage Killer / Financial Equalization (FEAT

    Quote Originally Posted by borisf96 View Post
    Can you provide anything about "copyrighted" program? Is anything disclosed before you sign up for the "program"?

    ...

    By the way, can you provide copyright Registration Number or link should anybody interested decided to check it out? I tried to search www.copyright.gov for Financial Equalization and found nothing.
    It checks out in the Canadian Copyright registry, at http://www.ic.gc.ca/app/opic-cipo/cp...ch.do?lang=eng with the information below:


    Data on copyrights is shown in the official language in which it was submitted.

    Documents found: 1
    1. FINANCIAL EQUALIZATION
    Registration number: 445574 Type: Copyright
    Author: Bell, Charles S. Owner: Bell, Charles S.
    Registration Date: 1995-08-21

  2. #18
    Join Date
    Oct 2010
    Posts
    1

    Re: Mortgage Killer / Financial Equalization (FEAT

    I'm sitting here reading these posts from people bad mouthing the Financial Equalization program when they haven't enrolled in it themselves or even know anyone that has. How can you sit here and bad mouth something you have know inner knowledge of? It really makes me second guess all the other rants on this website.

    I have been enrolled in the program for 5 years now and am only a few years away from paying off my mortgage. This program managed to cut 7 years off my amortization and I was even able to combine my car loan in with my mortgage. I have recommended the program to all my friends and family members and I would suggest you take a closer look at it to.

    And if you would like to check out their copyright here you go
    http://www.ic.gc.ca/app/opic-cipo/cp...ype=1&lang=eng

    And also just to ad, this program has been around for over 20 years, if it was a scam and they were screwing people over there would be a heck of a lot of people posting things on the internet. But you can't find anything but this one blog on this website written by people who aren't even in the program.

  3. #19

    Re: Mortgage Killer / Financial Equalization (FEAT

    Quote Originally Posted by thebiz View Post
    I'm sitting here reading these posts from people bad mouthing the Financial Equalization program when they haven't enrolled in it themselves or even know anyone that has. How can you sit here and bad mouth something you have know inner knowledge of? It really makes me second guess all the other rants on this website.

    I have been enrolled in the program for 5 years now and am only a few years away from paying off my mortgage. This program managed to cut 7 years off my amortization and I was even able to combine my car loan in with my mortgage. I have recommended the program to all my friends and family members and I would suggest you take a closer look at it to.

    And if you would like to check out their copyright here you go
    http://www.ic.gc.ca/app/opic-cipo/cp...ype=1&lang=eng

    And also just to ad, this program has been around for over 20 years, if it was a scam and they were screwing people over there would be a heck of a lot of people posting things on the internet. But you can't find anything but this one blog on this website written by people who aren't even in the program.

    The previous poster had the most sobering thought I have read about this program. Most people here are commenting about something they have no direct or indirect knowlege of.

    I went through the FEAT applicaction process and I would like to share my experience with others. Firstly, the company is very secretive about the mechanics of how their program works. I believe this is because this plan is not using some "secret loophole in the amortization" as they would have you believe but rather using a feature built into most mortgages(in Canada) which is the prepayment privilages. Many mortgages allow you to pay up to 10 or 15% extra voluntary payments per year which go directly towards principal repayment.

    So here are the basics of "the plan". You consolidate all your debt payments such as credit cards, car payments or lines of credit. Next you refinance all that with your mortgage balance and end up with a much larger mortgage debt. They claim that your cash flow will not be affected. This is because the payments you were making to service your other debts are now paying your higher mortgage. Any residual from that now go towards voluntary principal repayment. So in effect you will be mortgage free sooner which is what "the program" claims.

    FEAT stesses you have to stick with the plan to reap the full benefits. This actually makes sense. If you keep paying the extra principal amounts the mortgage will be paid off faster. Some of the negative aspects of the plan are: 1) If you combine a car loan with your mortgage you will be paying for the car longer than you own it. 2) If in the future you add more debt such as buying a new car, it changes your "plan".
    In my opinion the FEAT plan is not a scam and can work if you have the self-discipline to follow it . I did not complete the application process for the following reasons. 1) I provided a detailed information on two houses I own plus llines of credit associated with them. When they crunched the numbers FEAT mixed up the numbers on the separate houses. I pointed out the mixup and the sales rep said " we used the numbers YOU provided" there-by blaming me for his mistake. STRIKE 1!
    2) I mentioned that there was no talk of the fees I would be required to pay for breaking my present mortgage and line of credit obligations. He said there would "likely" be no fees. ...Strike 2. 3) I asked for a few references from present customers from their supposed 35,000 clients. The sales rep refused claiming possible privacy violations. STRIKE 3!

    I would like to state my opinion once again based on my direct involement with FEAT. I do not believe they are a SCAM, but I do find their sales approach condecending and shady.

  4. #20
    Join Date
    Dec 2013
    Posts
    1

    Re: Mortgage Killer / Financial Equalization (FEAT)

    I wrote an article on this company

    http://www.pcpclub.ca/financial-equalization-review/

    In short: do not use this service. It is not a scam but it is simple advanced debt consolidation solution.

  5. #21
    Join Date
    Aug 2016
    Posts
    1

    Re: Mortgage Killer / Financial Equalization (FEAT)

    I am a current customer of FEAT and I am very happy with the plan, I was financially in a bad place because of an injury and was unable to work for 18 months, FEAT rescued me and they did exactly what they said they would, I am debt free and I am paying $500 less every month plus my mortgage will be paid 5 years sooner, before the feat plan I was drowning with debt payment and mortgage payments, I did go to the banks and consolidation companies and either I got no help or bad advice which would have ruined my credit. FEAT does it the right way, your creditors are paid off, your monthly payment don't go up and your mortgage which is now bigger gets paid off sooner .Now my responsibility is to stay out of debt and don't get back in that hell I was in before.

    For those who wonder what the catch is there is none, it's not a free service there are fees involved and are stated in the presentation and finalized by a lawyer. I am paying exactly what I was shown on my report.

  6. #22
    Join Date
    Sep 2016
    Posts
    10

    Re: Mortgage Killer / Financial Equalization (FEAT)

    look at forum.redflagdeal for an assessment of their product or google it and click on review of the co. it is a rubish product.

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