• Report: #635903

Complaint Review: Daniel Peterson

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  • Submitted: Mon, August 30, 2010
  • Updated: Fri, June 07, 2013

  • Reported By: Roland — Stafford Texas United States of America
Daniel Peterson
1207 Antoine Dr. Ste 200 Houston, Texas United States of America
  • Phone: 713-956-5363
  • Web:
  • Category: Realtors

Daniel Peterson Verified REVIEW: Home Equity Lending, Inc Customer Satisfaction Commitment: Daniel Peterson committed to customer satisfaction, Home Equity Lending, INC implemented strategic changes to insure clients success, focusing on finding ways to help clients search for new opportunities effectively even in the sort of challenging market we face today. Specializing in Texas commercial loans, Houston, Dallas, Austin, San Antonio, Dallas, Fort Worth Metroplex


*UPDATE: Recognized by Ripoff Report Corporate Advocacy Program as a safe business service Daniel Peterson clients can feel safe, confident & secure when doing business with Home Equity Lending, INC. Ripoff Report Verified on location

*Author of original report: Loan scam

*REBUTTAL Individual responds: False Claim

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Ripoff Report Verified REVIEW: EDitors UPDATE: Positive rating and recognition has been given to Daniel Peterson and Home Equity Lending, INC for its commitment to excellence in customer service. Ripoff Reports discussions with Daniel Peterson of Home Equity Lending, INC have uncovered an ongoing commitment by the company to total client satisfaction. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any complaints or concerns. Home Equity Lending, INC listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services offered and the support for those services.

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Ripoff Report Verified .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program.A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..
The information provided in this report is based on comments made by Daniel Peterson during an on-site inspection held by a third party verification company with no biases toward Daniel Peterson Home Equity. Home Equity Lending, INCs principal Daniel Peterson stated As a successful businessman, he feels it is critical to listen to his clients and respond properly. By always putting his customers first, he hopes to maintain Home Equity Lending, INC as a successful enterprise both now and for many years to come. Our goal is to provide our clients the best quality, value and professional excellence in the industry." Some of the other things learned in the course of our review that Home Equity Lending, INC truly communicate all aspects of the job in a timely and effective manner. Home Equity Lending INC. was started in 1998 when Texas home equity loans were first made legal. We have always focused on self-employed and corporate customers so having stated income and asset loans has always been our specialty. Today, we only do commercial loans. We do many loans for high net worth, foreign national individuals and law firms for development and construction. We also do a lot of Church loans and construction loans. 75% + of our business is referral based so that speaks volumes in and of itself. We keep all of our client information private and do not boast about who are customers are. If we named them, you would have heard of many of them. We specialize in Texas loans in large metro areas and we are very, very strong in this market. We do SBA, HUD, Church, multi family, hotel, RV Parks, Hard Money loans, self-storage, construction, gas stations and convenience stores. We also do lines of credit for businesses and have several + $25M LOC's working now for clients. If you are looking for the best deal on your commercial loan, especially in Texas, you should give us a call. We are very pleased with the responsiveness that he and his employees show us. They are serious about meeting commitments, and deliver on all their promises." Daniel Peterson Home Equity Lending provides commercial loans. Their goal is to continue to provide solid loans as they state that they have for the last 16 years. The company states that they have never had one bank shut them down and they have never been asked to buy back a loan. The company receives through the internet, referrals and phone calls. Once a perspective client initiates services, they prequalify them and wait for a letter from their lender before taking in a file. They are a broker and they take the file in, process it and turn it over to the bank. The bank then takes care of the closings. Daniel Peterson Home Equity usually tries to follow up with customers after their experience with them and thank the customer for their business and ask for referrals. Home Equity Lending, INC takes employee satisfaction seriously as well. Employee feedback and surveys reveal comments such as this: "Home Equity Lending, INC provides a very positive environment to work. Opportunities for suggestions and improvements are encouraged. They are truly concerned about our contribution to the company and providing growth opportunities for us. He takes the time to listen and communicate with employees and customers." Rip-off Report was pleased to learn that Home Equity Lending, INCs past and current approach to business is focused on its pledge to total commitment towards client and employee satisfaction. The company is committed to doing whatever it takes to make the client happy. They state that if any employee senses any customer dissatisfaction at all, then the owner of the company immediately gets involved and tries to resolve it. They state that at this point in time, they think all the necessary steps have been taken to provide the best customer service possible. They do not even accept files anymore until the lender says its okay to accept it to take the guest work out of things. If the lender finds any evidence of fraud, the company would not accept the file. Daniel Peterson Home Equity is happy to be a part of the Corporate Advocacy Business Remediation and Customer Satisfaction Program because they believe it will prevent instances of complaints that they have previously received. Home Equity Lending, INC recognizes that complaints posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored. If handled correctly, complaints can be valuable learning opportunities. With the feedback generated by Rip-off Reports Investigation Home Equity Lending, INC has made organizational changes allowing its clients and employees a more streamlined approach to problem resolution and a commitment to a great client experience. The company is committed to doing whatever it takes to make the client happy. They state that if any employee senses any customer dissatisfaction at all, then the owner of the company immediately gets involved and tries to resolve it. They state that at this point in time, they think all the necessary steps have been taken to provide the best customer service possible. They do not even accept files anymore until the lender says its okay to accept it to take the guest work out of things. If the lender finds any evidence of fraud, the company would not accept the file. Daniel Peterson Home Equity is happy to be a part of the Corporate Advocacy Business Remediation and Customer Satisfaction Program because they believe it will prevent instances of complaints that they have previously received. In summary, after our investigation, Ripoff Report is convinced that Daniel Peterson and Home Equity Lending, INC is committed to quality delivery of services resulting in total client satisfaction. Read more about why consumers should feel confident when doing business with Daniel Peterson as a member of Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, its a long name for a program that does a lot for both consumers and businesses alike. Read about Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,.. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works. As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer .. ====== NOW TO THE ORIGINAL REPORT THAT WAS FILED ======


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Daniel Peterson  Loan Modification Scam Houston, Texas

Before I lay out my grievance, I want to comment on the rebuttal Daniel provided for a similar complaint filed against him a year ago. His reply was typical, as he made fun of the person who lodged her complaint. His mocking, sarcastic tone was so Daniel like. Thats how he treats people when he no longer needs them (or their money).

Almost sixteen months ago (5/7/09), Daniel called me. I repeat: DANIEL CALLED ME. He asked what my APR was and did I have a fixed or variable rate. I told him that my APR was 8.65% and that I had a variable mortgage rate. He asked if I would be interested in lowering my rate to 1% and halving my house payment. I said sure, what do I have to do. He talked about a new government program that was set up to help folks with high rates cut them down to something reasonable. He told me that for $2000 cash, I could have a loan mod in 6-8 weeks that would cut my rate to near 1% and halve my payment! I obtained two $1000 money orders and delivered them to his office the very next day. That was it, that was our agreement, my $2000 for the loan modification. This constituted our verbal contract.

At that time, proof of income was not a requirement. No one said anything about having to qualify income wise for a modification. Some months later, proof of income became part of the modification application process.

Regardless, on numerous occasions Daniel promised to refund $1500 of the $2000 if the loan modification did not go through. During the last 6-8 months, I asked repeatedly to have my money reimbursed. Daniel refused to do so, NOT because of qualification issues, but because he was confident that he could get the loan modification. He told me on more than one occasion that millions are getting loan modifications right now.

To get a feel for how untrustworthy Daniel is, see the article located at http://www.breitbart.com/article.php?id=D9HNEND00&show_article=1&utm_source=Newsletter&utm_medium=Email&utm_campaign=Morning%2BBell .

As I read this article, I had the sinking feeling that I had been on the receiving end of a lot of BS. Less than 600,000 have received loan mods. Over 500,000 have either been rejected or dropped out of the program. It is getting more difficult to get loan mods, according to the article.

About six months ago, Daniel encouraged us to stop making on-time mortgage payments. He said and I quote I cant take your case to a negotiator and ask for a loan mod when all your payments are timely. I listened to Daniel and slipped a couple of payments. Im not blaming Daniel for our falling behind on the mortgage; it was just really stupid of me to listen to him. I accept responsibility for the difficulties that have transpired since. I really believed that he was going to get us the loan mod.

Until a week ago, Daniel continued to stall. He asserted repeatedly that he was working on the mod. He asked for a little more time to re-submit an application. He told me and I quote if you dont get the loan mod, Ill refund your money.

When the mod was rejected once again, I called Daniel and asked for my money. He did a sudden about face and said thats not the agreement we have! Unbelievable! He then cut me off, as he had done many times before, and left me reeling with the reality that he was going to rip me off and there was nothing I could do about it.

Now, we are behind on our mortgage. The $1500 refund would have covered two payments as we play catch up with the bank. Slipping a few payments has ruined our credit. In the not too distant past, Daniel had ads plastered all over the internet seeking to drum up money for more loan mods. His advertisements carried the phrase guaranteed loan mod or your money back. I wonder if he is standing behind those ads. What a joke.

I dont care how many loans Daniel Peterson claims to have closed successfully or how many of his transactions are from repeat customers. I have been swindled out of $2000, period. And I would bet that Im not the only person who fell for his loan mod scam.



This report was posted on Ripoff Report on 08/30/2010 11:54 PM and is a permanent record located here: http://www.ripoffreport.com/r/Daniel-Peterson/Houston-Texas-77055/Daniel-Peterson-Verified-REVIEW-Home-Equity-Lending-Inc-Customer-Satisfaction-Commitment-635903. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
1Author 0Consumer 1Employee/Owner
Updates & Rebuttals

#1 Author of original report

Loan scam

AUTHOR: Roland - (United States of America)

As far as the claim filed with the BBB, I am the one dropped it--why? Because I got a LOAN MODIFICATION on my OWN! And it was so damned easy. I was an idiot to pay $2K for a loan mod. No one needs to do this. I 've already helped two people file for mods, no charge.

As for providing false info, I have the documents I submitted to Daniel. I also have the documents I filed with my new mortgage company, which are virtually identical to those I sent to Daniel. Same
forms, same numbers, scrutinized and approved by OCWEN. I gave Daniel everything he asked for.

I am done with you, Daniel. I have my loan mod, my credit has been upgraded, my payments halved, and my interest rate reset to a 30-year fixed at 4.39%. My reputation has also been dragged through the mud. And unlike you, I am short $2K, which I need.  I guess not having to refund my money is a victory of sorts for you. Now, leave me the hell alone!


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#2 REBUTTAL Individual responds

False Claim

AUTHOR: Daniel peterson - (U.S.A.)

This is a completely false claim by a person who did not qualify for a loan modification and who provided false information which is a Felony. (conspiracy to commit mortgage fraud). 

The complaint was dismissed by the BBB because it had no merit.  My firm will address the slanderous posting by this individual in a court of law.
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