• Report: #196990

Complaint Review: Morganti Modular Homes, Morganti Properties

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  • Submitted: Sun, June 18, 2006
  • Updated: Fri, July 25, 2008

  • Reported By:Littleton Colorado
Morganti Modular Homes, Morganti Properties
2038 E I-25 Frontage Road Erie, Colorado U.S.A.

Morganti Modular Homes, Morganti Properties ripoff Erie Colorado

*REBUTTAL Owner of company: RE: Mrs T's response to Morganti Modular Homes

*Author of original report: Morganti Modular Homes

*Author of original report: Morganti Isnt it Interesting

*Author of original report: Morganti Isnt it Interesting

*Author of original report: Morganti Isnt it Interesting

*Author of original report: Morganti Isnt it Interesting

*REBUTTAL Owner of company: Response to Barbara ****l Concern of Morganti Modular Homes

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I'd like to file a complaint against Morganti Modular homes aka Morganti Properties in Erie. They use loan shark tactics in collecting rents; going so far as to sign my name to a rent check, from my personal checking account that was forgotten to be signed. (We are in a lease option with them, putting down $14,000 down on the home, with a lease rental dates of Sept1, 2005-Aug. 1, 2006. Morganti promised they could finance us, and the money was a down payment; then later finding out it was a "non-refundable" security deposit. They also told us that they would "front" us the rest of the money needed to close on the loan, telling the title company that we were paying them back when in reality, Mr. Morganti would "forget" the loan. We didnt feel right about this, so we said no to the closing. In recent months I received several calls from Mr. Ricardo Morganti; including a letter "insisting" that we contact Veracity Credit Repair, in Denver, saying he would refund us at closing, when I told him that they dont do anything for me I cant do for myself, he further insisted having one of his salespeople also call and tell me "Mr. Morganti is adamant about you doing this". Veracity Credit Repair specifically states on their website dont listen to the FTC. They state they have a flawless credit with the BBB, this is incorrect, they in fact have 4 complaints with the BBB. Morganti has 9.

Barbara
Littleton, Colorado
U.S.A.

This report was posted on Ripoff Report on 06/18/2006 01:48 PM and is a permanent record located here: http://www.ripoffreport.com/r/Morganti-Modular-Homes-Morganti-Properties/Erie-Colorado-80516/Morganti-Modular-Homes-Morganti-Properties-ripoff-Erie-Colorado-196990. 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:
0Author 5Consumer 2Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Owner of company

RE: Mrs T's response to Morganti Modular Homes

AUTHOR: Morganti Modular Homes - (U.S.A.)

It is encouraging to see that Mrs T still has concern for this matter. Please let me state once more clearly. I will be happy to discuss and review her original contract with her. She clearly has NO understanding of the legal document she signed. Once more her monies given ARE NOT and NEVER WERE refundable. That is fact. The claims that she continues to stammer over ARE UNFOUNDED. How much more clear do you want it.

TO: Mrs. T, please find better ways to consume your time. Might I suggest taking a class in real estate and mortgage contracts to better get a grip on your next real estate contract. You do at any time have the opportunity to contact us regarding this matter. You have chosen to hide behind this consumer advocacy group to vent your concerns. I do wish you would own up and meet with us to explain to you in detail what you have been concerned about. I believe that if you do some soul searching of your own, you will see that you are angry. You will find that the only person you should be angry with is yourself.

I truley am sorry you feel the way that you do. We tried to help you. It is so unfortunate that there are websites like this. It is unfair that persons are able to attack other persons or business' and spread gossip. This causes business' and persons to spend countless time responding to issues that many times can be unfounded. If Mrs Troxel has a valid complaint, I suggest she hire an attorney and dispute this in court. I would ask at this time that she desist from further comment on this matter. It is out of courtesy that I have responded to this matter.

I hope all that read it learn something. If there are any questions from Mrs. T or anyone else, please do not hesitate to call me. 303-828-0200 or 866-828-0200, Barabara this does include you. It seems silly for you to hide behind anonymous
letters to internet sites when we are right here and volunteering our availability to help you understand with clarity your obvious misperceptions.

Sincerely.
Mr. Reed
Morganti Modular Homes
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#2 Author of original report

Morganti Modular Homes

AUTHOR: Barbara - (U.S.A.)

This just in:
While googling the company I came across a report dated June 25th, 2008 Colorado Securities commissioner announced today that he has a final cease and desist order against a Colorado Real Estate Developer; named in the order are Morganti Properties and Ricardo Morganti " Real Estate Developer Morganti ordered to stop selling securities by the Divison of Securities Department of Regulatory agencies" of the State of Colorado he has an immediate cease and desist order. It orders him to stop offering or selling securities in Colorado for violating the Colorado anti fraud and registration provisions of the Colorado securities act".

"The staff of the division of securities alleged that Morganti sought investors for his real estate projects by adversting in a local newspaper. Morganti sought investors to invest in single family homes in the Denver metro and surrounding areas . Investors could invest in either single family homes or Morganti properties where the funds would generally be used by Morganti. Morganti promised investors a 12% return on their investment.

The staff alleged that the respondents (Morganti) alleged in a scheme to defraud investors by failing to disclose to potential investors the risks associated with and the speculative nature of the investment.

The staff also alleged that the offer of these securities were not registered or exempt from registration.

The cease and desist order which Morganti did agree to orders them to immediately cease and desist offering or selling any security in or from the state of Colorado in violation of the anti fraud or registration provisions of the act or otherwise engaging in conduct in violation of any provision of the act.

What I Am referring to about "loan shark tactics" before we even moved in; buyt after the lease was signed; Ron calling 6 times a day cell and home phone to "remind" me to contact the phone, water and electric company. After giving Morganti all that money 2 months after threatening to evict us for being 2 days late with the rent and leaving 2 screaming voice mails 1 on cell the other on the home phone demanding money , even though specific payment arrangments had been made with Jeannie Mr. Morgantis secretary. Jeannie literally calling and leaving screaming threatening voice mails 10 times a day when finding out that we were moving. This is no exaggeration I have the voice mails to prove it. Shall I continue? When I said loan shark tactics I meant it.


Imagine that maybe I was right about this company all along and if I dont miss my guess securities fraud is a federal crime. What I have written above are not my words they are on the State of Colorado website. http://www.dora.state.co.us/securities/pdf_forms/pressreleases/morganti-press.pdf

Check it out.... I rest my case with this company. If Mr. Reed is reading this. I expect my money refunded soon.
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#3 Author of original report

Morganti Isnt it Interesting

AUTHOR: Barbara - (U.S.A.)

That it takes you 2 years to respond to my Rip Off Report after you threaten to sue me for asking for my money back, when this transaction occured in July 2005. . Any legitimate business or business man i.e. Ricardo Morganti with all the complaints I filed against you would have at least offered part of the money back , I have yet to see one cent.

Also;
I filed a complaint with the Colorado Attorney Generals office and was directly told that the "closing loan" you offered me that I should have quitely paid you back yet told the mortgage company it was a"gift" when I asked the mortgage broker that you hired if this was legal he told me "its done all the time" per the Colorado Attorney Generals office this is called a "silent loan" and is indeed illegal . The only reason my husband an I havent sued you is because attorneys want a retainer fee and we cant afford an attorney but rest assured the attorney generals office is well aware of your practices; as the Post Master General's office is also aware of your practices by taking our mail and refusing to return it including an unemployment check.

With the new Mortgage protection laws in Colorado to prevent Mortgage Fraud that your company is borderline on engaging in, your company if you continue in these practices will be caught by law enforcement and prosecuted.

I seriously doubt I am the only one that you have ripped off, I am just the only one that has stood up to you, with engaging in the loan shark tactics you continue to engage in you have managed to make most people back down and not persue legal action against you.

I have no desire to meet with you for any reason unless you have a certfied check for the $14,000 you still owe me.

You took us for innocent fools because we had credit issues at the time and pulled a bait and switch on us and you know it.
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#4 Author of original report

Morganti Isnt it Interesting

AUTHOR: Barbara - (U.S.A.)

That it takes you 2 years to respond to my Rip Off Report after you threaten to sue me for asking for my money back, when this transaction occured in July 2005. . Any legitimate business or business man i.e. Ricardo Morganti with all the complaints I filed against you would have at least offered part of the money back , I have yet to see one cent.

Also;
I filed a complaint with the Colorado Attorney Generals office and was directly told that the "closing loan" you offered me that I should have quitely paid you back yet told the mortgage company it was a"gift" when I asked the mortgage broker that you hired if this was legal he told me "its done all the time" per the Colorado Attorney Generals office this is called a "silent loan" and is indeed illegal . The only reason my husband an I havent sued you is because attorneys want a retainer fee and we cant afford an attorney but rest assured the attorney generals office is well aware of your practices; as the Post Master General's office is also aware of your practices by taking our mail and refusing to return it including an unemployment check.

With the new Mortgage protection laws in Colorado to prevent Mortgage Fraud that your company is borderline on engaging in, your company if you continue in these practices will be caught by law enforcement and prosecuted.

I seriously doubt I am the only one that you have ripped off, I am just the only one that has stood up to you, with engaging in the loan shark tactics you continue to engage in you have managed to make most people back down and not persue legal action against you.

I have no desire to meet with you for any reason unless you have a certfied check for the $14,000 you still owe me.

You took us for innocent fools because we had credit issues at the time and pulled a bait and switch on us and you know it.
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#5 Author of original report

Morganti Isnt it Interesting

AUTHOR: Barbara - (U.S.A.)

That it takes you 2 years to respond to my Rip Off Report after you threaten to sue me for asking for my money back, when this transaction occured in July 2005. . Any legitimate business or business man i.e. Ricardo Morganti with all the complaints I filed against you would have at least offered part of the money back , I have yet to see one cent.

Also;
I filed a complaint with the Colorado Attorney Generals office and was directly told that the "closing loan" you offered me that I should have quitely paid you back yet told the mortgage company it was a"gift" when I asked the mortgage broker that you hired if this was legal he told me "its done all the time" per the Colorado Attorney Generals office this is called a "silent loan" and is indeed illegal . The only reason my husband an I havent sued you is because attorneys want a retainer fee and we cant afford an attorney but rest assured the attorney generals office is well aware of your practices; as the Post Master General's office is also aware of your practices by taking our mail and refusing to return it including an unemployment check.

With the new Mortgage protection laws in Colorado to prevent Mortgage Fraud that your company is borderline on engaging in, your company if you continue in these practices will be caught by law enforcement and prosecuted.

I seriously doubt I am the only one that you have ripped off, I am just the only one that has stood up to you, with engaging in the loan shark tactics you continue to engage in you have managed to make most people back down and not persue legal action against you.

I have no desire to meet with you for any reason unless you have a certfied check for the $14,000 you still owe me.

You took us for innocent fools because we had credit issues at the time and pulled a bait and switch on us and you know it.
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#6 Author of original report

Morganti Isnt it Interesting

AUTHOR: Barbara - (U.S.A.)

That it takes you 2 years to respond to my Rip Off Report after you threaten to sue me for asking for my money back, when this transaction occured in July 2005. . Any legitimate business or business man i.e. Ricardo Morganti with all the complaints I filed against you would have at least offered part of the money back , I have yet to see one cent.

Also;
I filed a complaint with the Colorado Attorney Generals office and was directly told that the "closing loan" you offered me that I should have quitely paid you back yet told the mortgage company it was a"gift" when I asked the mortgage broker that you hired if this was legal he told me "its done all the time" per the Colorado Attorney Generals office this is called a "silent loan" and is indeed illegal . The only reason my husband an I havent sued you is because attorneys want a retainer fee and we cant afford an attorney but rest assured the attorney generals office is well aware of your practices; as the Post Master General's office is also aware of your practices by taking our mail and refusing to return it including an unemployment check.

With the new Mortgage protection laws in Colorado to prevent Mortgage Fraud that your company is borderline on engaging in, your company if you continue in these practices will be caught by law enforcement and prosecuted.

I seriously doubt I am the only one that you have ripped off, I am just the only one that has stood up to you, with engaging in the loan shark tactics you continue to engage in you have managed to make most people back down and not persue legal action against you.

I have no desire to meet with you for any reason unless you have a certfied check for the $14,000 you still owe me.

You took us for innocent fools because we had credit issues at the time and pulled a bait and switch on us and you know it.
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#7 REBUTTAL Owner of company

Response to Barbara ****l Concern of Morganti Modular Homes

AUTHOR: Morganti Modular Homes - (U.S.A.)

I am not really clear what Barbara **** is referring to when she mentions" Loan Shark Tactics." This is simply an issue where a client is not educated and informed. The original contracts Barbara **** signed are all above board, legal and clearly explained in plain English. There is NO fine print.

At the time she entered into the contract all of this was CLEARLY explained to her with ample time to ask questions. The lease with option program was developed by Morganti to help clients with credit issues, like Barbara; to get into a home. The fact of the matter is that Morganti actually was acting as the bank for Barbara ****.

When she placed her $ 14,000.00 as her down payment it was made clear to her that in the event she decided and was able to purchase the home. These monies were to be credited to the purchase amount of the home. This all again was clearly defined in the contract. The statement that Barbara **** made regarding credit repair is true.

We do urge clients in her same situation to sign up with a credit repair program. This helps them to more quickly get credit repaired and obtain a loan to actually buy the leased property. She obviously felt that she could do this all by herself. We do as well offer to refund all of the credit repair charges at the time the client closes on the loan of the leased property.

We are a member of the Better Business Bureau and we pride ourselves in resolving matters. A home purchase is a grand ordeal and not without its challenges in any case. We have had small issues where Better Business Bureau has been involved and all of these matters are resolved. The BBB is essential in communication and arbitration in these matters.

I feel personally for Barbara **** and the boggle her family has encountered. We have done what we can to assist them. I wish I could say that this would make all things right for them, unfortunately this is not to be. There happened circumstances beyond Barbara ****'s control that they needed to move. This situation was beyond what Morganti had of control.

When a home is vacated there are expenses involved with making the property ready again for resale. The sole reason for collecting the down payment and the fact that it is NON-REFUNDABLE....is for this reason. The hope being that the larger the amount of the down payment...the more commitment that the client leasing with the option to buy...has a greater desire to work to actually buy the property.

Barbara **** was given a great opportunity by Morganti. She unfortuately was unable to perform as she originally agreed in her contract. I understand how upsetting it can be to lose ones hard earned deposit. This however is not our fault. I hope this rebuttal will better explain the issues.

I hope it reaches someone else who may be in a similar situation. Contracts are binding and before someone signs an agreement they should take care to read everything and ask appropriate questions to avoid miunderstanings. I have all of the records of the entire transaction and if somehow this response reaches Barbara ****,..she is welcome to meet with us so we may better clarify any confusion she may have.

I would hope that this organization will consider this matter CLOSED and remove any negative remarks that remain on the internet. Morganti strives to exceed client expectations. It seems unfair for our business to suffer with a negative report when there was clearly no reason for it to begin with.

To anyone who may read this I offer to you..my sincere and heartfelt offer. Call me and I will glady walk you thru the entire procedure to calm any fear you may have entering into a program similar to Barbara ****. We have done many other contracts like this and they have been very successful. Reach Mr. Reed at 303-828-0200 or toll free at 866-828-0200.

It is not my place to try to convince Barbara **** against her opinons or feelings,...." A person convinced against their will, is proven again never still." Please consider removing this issue for us with the same persistance in which you have spread the negative response. Morganti Modular Homes is not perfect. We do however pride ourselves in our reputation.
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