Home Buyer Beware of Shady Mortgage Brokers: Harry Jakobs, Approved Mortgage Corporation Rip-off BBB Better Business Bureau at fault

BBB Helped Jakobs Rip Me Off

My research before doing business with Jakobs was to call the Better Business Bureau. They gave Westgate Mortgage, Jakobs employer, a favorable rating. I got taken to the cleaners. I am out thousands of dollars in interest, plus Jakobs undisclosed big fat commissions. Very unethical, very illegal, but allowed.

Thank you for participating in screwing me over, Better Business Bureau.

STOP! ..before you think about using the Better Business Bureau (BBB)... click here to see how other consumers were victimized by the BBB's false or misleading information. Don't be fooled! When there are thousands of complaints and other investigations underway by authorities, the BBB has no choice but to finally give an UNsatisfactory rating to a BBB member business that is paying the BBB big membership fees every year. When a business is reported that is NOT a BBB member, BBB files WILL more likely show an UNsatisfactory rating, then reportedly shake down that company to become a member of the BBB. One positive thing about the BBB is, either way, if a business has an unsatisfactory rating with the BBB, you can be sure, the business is bad. But what about all those BBB member businesses that had complaints filed against them? Consumers never get to hear about them. What about the BBB advertising to the public? Is this a false and misleading perception they are giving about “consumer confidence” when dealing with a business? Click here to understand more of what consumers and business alike are saying about the BBB. You decide.

Here are my Losses from Approved Mortgage Corporation

Harry Jakobs lied and cost me a bundle.

He should have to pay me the following:

I was charged $5,997 in undisclosed expenses in violation of the Truth in Lending statute which requires a Good Faith Estimate. These charges did not appear.

Additionally, I had to pay $2,000 penalty to the seller because he did not have the loan ready in time for the first closing date.

Finally, I had to pay an additional $7,221 in interest in 2001 and will have to pay and additional $5,225 in interest in 2002, of which he receives a significant commission. He changed the deal at the last minute, of which I have proof, and told me that if I wanted the house, I would have to pay the new rate.

The total loss, excluding my expenses, is $20,072. I have also expended 10 hours at $62 per hour totaling $620, or $20,692.

QUESTION

PLEASE ADVISE THE NAME OF THE PERSON WHO FILED THIS REPORT. I THANK YOU IN ADVANCE.

I know this information if all true...and more.

I used to work in the office with HAROLD IRA JAKOBS. I know that all this information is true and not only that, it is the tip of the ice berg. My friend works in the building across from "Approved" Mortgage Corporation and got one of the flyers that were handed out today

I read the flyer and like I said, it is the tip of the ice berg. I also know tons of other illegal things that go on in that office. I know how they share personal information about their clients all the time. Everytime I heard it happen, I thought about how I would feel if they wrecked my credit they way they did other people just to save their butts when they got in trouble.

It was standard procedure to switch the Good Faith Estimate. I also know that they specifically planned switching corporations every time they thought they were about to face legal problems where they could rightfully get into trouble. I am glad that someone has finally made this snake squirm.

Approved Mortgage Corporation Screws So Many People it Can't Keep Track of them All!

For now, Approved Mortgage Corporation can sweat and try to figure out which one of their victims has the fortitude to take them on. You would think that if this had happened to only one or two people they might be able to figure it out right away, but evidently there are so many people that they can not.

You will note that in their response above, they did not deny their activity. If history repeats itself, I can predict that this corporation will dissolve, leaving legal recourse difficult.

The Owner Gets Mad, Consumer Advocates Respond...

This e-mail is being sent as a courtesy notification that a report about your company has been posted at www.ripoffreport.com. Generally, this means that a consumer is dissatisfied with the service or products that you provided. The posts at this web site are written and submitted directly by readers and not by our organization. You may address the complaint by posting a response.

http://r.searchhippo.com/r.php?i=5:5&u=http%3A%2F%2Fwww.consumerripoffreport.com%2Fview.asp%3Fid%3D6230

If you wish to file a rebuttal, we invite your comments on the website. The following link is provided for your convenience, or, copy and paste the web address below into your browser.

After reading the Rip-off Report on your company, at the very end of the Report, click on the REBUTTAL box that says, "My company has been reported. How do I respond?"

Frank@RipoffReport.com

---------- Original Message ----------------------------------
From: ajbella@att.net
Date: Tue, 19 Feb 2002 15:48:27 +0000

Hi Frank,

Who exactly are we talking about here?

AJ Bellassai
Approved Mortgage Corporation

-----------------------------------------
Dear Mr. Bellassai,

I assume you have seen the report. Actually, since this report was filed there have been several complainants that have come forward. They have asked that they not be identified at this time, due to pending legal issues.

If you would like to negotiate this single issue, feel free to contact the website and anyone can help you. I may be unavailable for a few days. Contact data is located on the website.

Thank you for your response,
Frank
---------- Original Message ----------------------------------
From: ajbella@att.net
Date: Sat, 23 Feb 2002 03:21:50 +0000

Dear Mr. Torelli,

I hope this note finds you well and good.

I have a few issues with you and your web site I would like to convey.

1. The story being spun has no merit without an identity and you will not inform me as to who the complainant is to verify this.

2. This supposed girl "Julie" has never worked for Approved Mortgage Corporation.

3. We at Aproved Mortgage Corporation comply with all State and Federal guidelines and rules.

4. I did send a rebuttle and you failed to post it on your site.

5. We answer to the State Banking Department and have had no complaints in years.

6. Your offer to "Negotiate leads me to believe that you and your web site have published these slanderis and libelous statements in an attempt to extort monies from Approved Mortgage Corporation. We will be forwarding this and your previous messages to our legal department as well as the State of Arizona, Attorney Generals office.

Respectfully yours,

A.J. Bellassai
President
Approved Mortgage Corporation
-------------------------------------------
Hello Anthony,

Frank was called to Nevis for meetings and asked me to follow up on this issue. He asked my team in Toronto to investigate this further. There are a couple of questions we need to ask you, in light of the serious charges this consumer levels.

The consumer clearly points out in the report that when the problems occurred with Harry Jakobs he was not part of your corporation. Is that true?

I also noticed that Harry Jakobs uses broker license #18637, which is actually the broker license for your company. Does Harry Jakobs or any other employee in your company have a mortgage broker's license?

Were you aware of Harry Jakobs business practices prior to hiring him?

How long have you been associated with him?

What do you know about the collapse of Westgate Mortgage?

What statements in the report do you specifically deny?

Why are you responding to this report and not Harry Jakobs?

What does Harry Jakobs have to say about these allegations?

Were you aware that Harry Jakobs switches Good Faith Estimates?

Is it still Harry's policy or habit to share personal financial information with the seller?

Have other people complained to you about misconduct by Harry Jakobs, and if so
what is your response?

Are you a member in good standing with the Better Business Bureau?

If so, how much are your annual dues for?

Are there any complaints filed with any agency (governmental or private) on any
of your employees?

Have you or any of your employee, including Harry Jakobs, every been sued? Any
successful?

What is the disciplinary body in your state for mortgage brokers?

Is there is no individual in your company that is actually a mortgage broker?

How many people are on Harry Jakobs' staff?

Thank you for your time,
GRACE
---------- Original Message ----------------------------------
From: ajbella@att.net
Date: Sat, 23 Feb 2002 16:57:30 +0000

Dear Ms. Utley,

We at Approved Mortgage Corporation will be more than happy to respond to your inqiry. Would you please be kind enough to provide us the legal name, adresss, phone number and responsible party of your comapny.

Respectfully yours,

A.J. Bellassai
President
Approved Mortgage Corporation
-------------------------------------
Dear Anthony,


Who we are is irrelevant, but if you took time to read and comprehend you would see that we are consumer advocate volunteers, 23,000+ of us worldwide. Frankly, it is interesting that you are answering the questions we are posing since you are not the focus of the story and the accusations. Please let us know why that is. However, the information you seek is on the website.

It is also interesting that the position that you take, in our experience, is that of the guilty. Those who are scrupulous and honest do not become defensive and then aggressive, as you have done. The businessmen who is interested in avoiding even the hint of impropriety go out of their way to resolve issues fairly and swiftly. Those who have skeleton to hide employ the diversionary tactics you are using. "Methinks thou doest protest too much."

May I make a recommendation to you? Even if you are one of the unscrupulous businessmen to whom I have referred, you would do well to appear as if you are honest and have your employee apologize and make this right in a fair and equitable manner, even though he appears not to have been your employee when this occurred.

Mr. Torelli is aware of this situation now and was faxed a couple of e-mails you had sent him, to which I am not privy. He told me to let you know that he will be contacting you soon and asked me to apprise you of a couple of facts, in light of your threats:

1) You have obviously not contacted competent legal counsel because you would have been told that your charges have no grounding. The law indemnifies web sites for the content of third party entries; see the recent cases in Washington State, and the AOL case.

2) Even if you wanted to file charges of libel, (not slander, because that deals solely with the spoken word--learn to know the difference), any attorney worth their salt will tell you that "the truth" is the perfect defence. What that means is this is the type of a case where the accused becomes involved in proving their innocence. Unless you are squeaky clean, you may want to avoid the rigors of a thorough discovery process.

3) Furthermore, we are solidly covered by the 1st Amendment of the US Constitution.

In conclusion, we still need the answers to our questions. Please let us know if that is not your intention. We would then confer with the victims to determine their next course of action. You might be interested to know that our reporting has recently been featured in newspapers across the US and on major Network News Magazines. Assuming the victims wish to pursue, would you be willing to speak with a TV News Magazine Reporter? In March we will be featured by 2 different TV News Magazines, we might like to include this Rip-off Report because deceptive practices of unscrupulous Mortgage Brokers are a common and costly rip-off to consumers nationwide.

One other question... Do you know what spell check is? Most computers are equipped with it since 1993, and they even include American English.


Grace Utley
Consumer Advocate Volunteer - Toronto Canada
Grace@RipoffReport.com

---------- Original Message ----------------------------------
From: ajbella@att.net
Date: Mon, 25 Feb 2002 17:57:57 +0000

Dear Grace,

Thank you for confirming that Approved Mortgage Corporation is not involved in this complaint.

I wish you continued success with your endevors.

Respectfully,

A.J. Bellassai
President
Approved Mortgage Corporation
-------------------------------------

Mr. Bellassai,

Were your reactions different, you might be off the hook, but you still owe us some answers. You are accountable for the actions of your employees. If you knowingly perpetrate fraud by fostering the unscrupulous, then you are as culpable as Harry.

There are also several distractions you have raised that should be addressed, but you need to give serious thought to just making this right.

Mortgage broker license #18637 is for Approved Mortgage Corporation, but not for any one individual. Stay tuned!

This is very interesting because Harry Jakobs did the same to me.

Is there any way to form a class-action suit against this man. He did exactly the same thing to me and I am still livid about it. How can it be legal for him to change all these figures in the Good Faith estimate? How can we make him pay? Can somebody give me some answers?

Most Interesting... Harry Jakobs did this before coming to Approved Mortgage Corporation

As I see the "Conjure" continues....You have admitted these complaints about Harry Jakobs were not against Approved Mortgage Corporation....You refuse to supply any "Facts", have censored my responses and choose to keep the posts you select on your site. Could you please explain this to me.

Thank you,

AJ Bellassai
President

Mad, and I'm Not Going to Take it Anymore!

Please help me get my money back!

Highlight on Jakobs' Illegal Activities

As I read over the report, I noted that perhaps one point was not clear. I want to emphasize that Jakobs and his assistant engaged in a big "no-no" in the mortgage brokerage business; he discussed my credit with the seller. Despite the fact that nothing he said was true, that is not an appropriate defense to the fact he represented information to the seller about my credit. Further, the Arizona AG's office knew this and chose to do nothing.

Look at Harry's Checkered Past

Harry went to the Palmer Center for Natural Healing run by Alan W. Palmer, D.C. P.C., at 9832 N. Hayden Rd., Ste 207, Scottsdale, AZ 85258. (Incidentally, this is so convenient because it was right upstairs from his old office at Westgage/Coppertree Mortgage.) He went there for his first treatment on 5/21/97 following an injury which occurred 1/28/97 and by 6/30/1997 he had already run up a bill of $2,100. This fits the modus operandi of one of those shady lawyers you see on TV who tells his clients, who get their bumper clipped, to go run up medical expenses to justify a heftier insurance claim.

Jakobs is a very shrewd businessman, though. Harry's home is at 8137 E. Rita Drive, Scottsdale, AZ 85255. He purchased it in September 1995 for a mere $153,246.00. Not a bad deal, eh? I'll bet he didn't have to wait for his funding to get arranged. And I'll bet no one illegally discussed his credit with the seller. How do you think he would like it? If you would like to call him and ask him, his cell phone number is (602) 430-7849.

Just curious how long you are going to leave up this bogus claim against my company

Please remove