EQUITY ACCELERATOR IS A SCAM! No matter which bank or mortgagee you deal with! Probably the paperwork you got made it sound like it was part of your bank but it is not! The company is a seperate entity owned by Western Union (do a WHOIS search of the company name). Even though it seems your mortgage payments are made to your mortgagee, they are not. EA takes the bi-weekly payments, uses your money (for which you pay a fee of $2.50 each payment plus the initial enrollment fee), then remits to your mortgagee only once a month. The only benefit to this program is the the 13th monthly payment which goes directly to principal. Anybody with a calculator and a bank account can do the same thing, save the fees and make a bigger dent in their mortgage. Open a second bank account and set up weekly or bi-weekly recurring transfers into that account (depending on how you get paid.) Pay your mortgage from that account. Once or twice a year go into the bank (or online) and ask to make an extra payment (prepayment) to your mortgage for whatever amount you are comfortable with. You could even go in once and month and put a couple of hundred dollars down on the mortgage. It doesn't seem like a lot but over time it can make a huge difference! Another thing that makes this program a scam - in pretty much every other place in the world (certainly in Canada), when you pay bi-weekly, the payment is credited bi-weekly. So the principal balance of the mortgage upon which the interest is calculated is lower with each payment. Therefore you pay more principal and less interest with each payment you make. So properly applied bi-weekly payments are the way to go because of this and the extra payments.