• Report: #420065

Complaint Review: Kennedy Funding

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  • Submitted: Wed, February 04, 2009
  • Updated: Mon, July 07, 2014

  • Reported By:Salt Lake City Utah
Kennedy Funding
Two University Plaza, Suite 402 Hackensack, New Jersey U.S.A.

Kennedy Funding Is A Total Scam - Watch Out If you are investor or brokerage seeking capital, this company will take your money and run! Hackensack New Jersey

*General Comment: Couldn't agree more

*Consumer Comment: Kennedy Funding WILL Take Your Money

*Consumer Suggestion: Peace of Mind

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I personally know of 2 different investors that have been taken by this company. They say they can fund your deal in the millions of dollars and even will fly out to look at your project.

They then tell you YES we can fund it but we need you to give us a Due Diligence fee to underwrite the loan. Then they make you sign a contract saying basically that they aren't required to do anything for the money you give them. Why anyone would sign their contract is beyond me. I think its just desperation for funds.

Some of my investor friends have given this company $180,000 in Due diligence fees. What happens is this company then comes back and says, 'Sorry we can't fund your loan.' Then they keep your money.

I don't think this company has EVER funded a legitimate project. They put fake projects they've funded on their website and do things like fly out to see your project to make it seem real.

I know of 2 investors in just the State of Utah that Kennedy Funding out of NJ as taken Due Diligence money from, in the hundreds of thousands of dollars. They will take your money and run. Beware.

This company gives all legitimate private money brokers and lenders a bad name. No matter how tempted you are and desperate to get your deal funded (this is the type of investor this company preys on) DO NOT give them any money. You WILL NOT see it again I assure you.

Tony
Salt Lake City, Utah
U.S.A.

This report was posted on Ripoff Report on 02/04/2009 10:37 AM and is a permanent record located here: http://www.ripoffreport.com/r/Kennedy-Funding/Hackensack-New-Jersey-07601/Kennedy-Funding-Is-A-Total-Scam-Watch-Out-If-you-are-investor-or-brokerage-seeking-capit-420065. 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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#1 General Comment

Couldn't agree more

AUTHOR: Spence - ()

I contacted Kennedy Funding a few years ago about a deal that I had in place that had quite a bit of equity in it. They initially said they couldn't help me and then the guy I was talking to changed his mind and asked me to send over the documents and he'd call me back...two days later lo and behold and the off-market property was now under contract...I'm still waiting on their call...four years later. Stay away from this compnay.

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#2 Consumer Comment

Kennedy Funding WILL Take Your Money

AUTHOR: BKC - (United States of America)

Normally, I discount some of the comments on this site because they tend to be disgruntled individuals. HOWEVER, what the gentleman from Utah says is 100% correct.  

They are notorious for taking up front fees and doing nothing. I had a client who was taken for $250K and he owned prime real estate (unencumbered) which had an appraisal of $185 Million, and he was only seeking a $50 Million capital raise. He is now stuck with the stigma that .... "since he resorted to Kennedy Funding his project must not be good." Other private market funding sources will not touch him. He has suffered GREATLY!

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#3 Consumer Suggestion

Peace of Mind

AUTHOR: fraudbasher - (United States of America)

With all of these scam artists around you would think that there would be some strong regulatory bodies throwing these punk criminals behind bars. It reminds me of the early 90's with all the boiler rooms all over Wall Street without strong regulation. What I now figured out was that I don't have to deal with these scam artists at all when looking for a mortgage. No more getting ripped off by some phony salesman. So I got lucky and someone referred me to a website called www.prepdocs.com where I could send all the paperwork that I sent mortgage brokers in the past and have everything packaged into an electronic file within 48 hours. Nice and neat. I took that file and sent it directly to about 10 lenders myself without the fear of being ripped off. I found the loan I was looking for without the mortgage broker b.s. I think anyone reading this should check it out for yourself for a peace of mind.
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