ED Magedson – Founder
T. Robert GrilliPO Box 283 Lincon, Rhode Island USA
T. Robert Grilli Book Teaches illegal Money Lending Practices Lincon Rhode Island
Received an ad in the mail from a T Robert Grilli in RI. I called the residence phone number, a male voice answered indentifying himself as Mr Grilli. He tiold me he'd found my name amongst many in a marketing list of people interested in starting their own home business. I asked him a few questions about his offer(What the 124.50 cost was supposed to cover, licensing, taxes etc..) and he gave what I thought were straight- forward answers.
I would work as a go-between "financial consultant" between the lendee and the lender. I would do no paperwork, only place ads offering assistance in finding various types of loans for individuals and businesses. I would respond by sending out the premade paperwork to the lendee who would fill it out and return it to me, I would thereby glance over the paperwork to be certain everything "was in order" then send it off to one of the potential financers that I'd "located."
The booklet of information arrived about a week later. When I finally had a moment to read it, I came across a few comments within the body of the booklet and a clause in one of the ready- made contracts which came with it that made me pause and check it out with a family associate who is experienced with both the legal process involved in both personal and business finance. After looking at the contract between the consultant and the lendee, I realized I had mistaken Grilli's directness in his answers for honesty.
1st and probably the BIGGEST red flag is the Quote in the "Agreement For Financial Services" (which the person who hypothetically contacted me about a loan) would need to sign and it states as follows..
"As further consideration to Consultant, Client agrees not to obtain financing from Lenders/Investers supplied by Consultant , either directly or through third parties, wirthout prior written consent of Consultant, for a period of two (2) years from the date of this agreement except through Consultant and that a separate agreement shall be required for these services."
What it means is if that lendee signs this contract they are not allow to obtain financing elsewhere for two years. If this sort of a clause were in my mortgage contract, andGod forbid I signed it,.. I would not be allowed(according to the way it's written) be to refinance with another company during that two year period - evern through a thrid party!!
I also found this comment in response to a question about the consultants commission fees..
Q Does anyone ever refuse to pay the commission fee?
A Don't even let the thought enter your mind. Borrowers would never try to beat you out of a fee you've rightfully earned. They just wouldn't do it. For one thing, your agreement with them is a contract that is binding by law. Lenders would have nothing to do with borrowers that even tried. Why's that? Their reasoning: If they tried to beat you, then, what would prevent them from not paying the loan.(That's right. No question mark!) And, furthermore, these borrowers, somewhere down the line, may need you again to help with another project.
Unfortunately for me, by the time I'd had the time to acutually read the fine print in this booklet, the 10 day refund had passed.
That's another thing, anyone who's ever refinanced or taken out a loan knows the process can take a while for required paperwork to be reviewed and the "approval process" to be done. to the "10 day grace period" is bunk!! Even if someone were to follow the directions in the book to the letter, it would be a few weeks before the "consultant" got paid assuming they could find someone dumb enough to sign that contract.
Beware!! Don't waste your money or time.
This report was posted on Ripoff Report on 05/26/2013 06:13 PM and is a permanent record located here: http://www.ripoffreport.com/r/T-Robert-Grilli/Lincon-Rhode-Island-02865/T-Robert-Grilli-Book-Teaches-illegal-Money-Lending-Practices-Lincon-Rhode-Island-1054039. 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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