- Report: #960483
Report - Rebuttal - Arbitrate
Complaint Review: Resource Capital Mortgage
Resource Capital Mortgage13122 KING 13122 KING CIRCLE CYPRESS, Texas United States of America
Resource Capital Mortgage Resource Capital, Jim McBride, James Madison McBride Commercial Mortgage Loan Scam 13122 KING CIRCLE CYPRESS , Texas
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Their scheme is to get you to pay an upfront $750 (or less in some cases) to do the mortgage, then they ask you to pay 1% to get it approved even before the loan even closes which is not common at all. They would not even consider an escrow account or anything that would validate that it was a legitimate deal. After doing some digging on James McBride, I found out he is operating illegally out of Texas. His business is registered with Missouri and whats more, the state of Texas barred him for EVER doing business in the state regarding any type of loan or any lending practice. Go here to see the full court report it breaks everything down- http://www.fc.texas.gov/alj/decide/S2784PFD.HTM
They do a good job at convincing you to move forward. Do not do it, you will lose money. The report by the superior court of Texas is evidence enough to not do any sort of business with Jim McBride, Deborah or any of their associates.
This report was posted on Ripoff Report on 10/26/2012 11:04 AM and is a permanent record located here: http://www.ripoffreport.com/r/Resource-Capital-Mortgage/13122-KING-CIRCLE-CYPRESS-Texas-77429/Resource-Capital-Mortgage-Resource-Capital-Jim-McBride-James-Madison-McBride-Commercial-960483. 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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