• Report: #1159795

Complaint Review: Twenty Four Seven Funding Kelly Fontaine

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  • Submitted: Sat, July 05, 2014
  • Updated: Thu, July 09, 2015

  • Reported By: anonymous — Atlanta Georgia
Twenty Four Seven Funding Kelly Fontaine
Nationwide USA

Twenty Four Seven Funding Kelly Fontaine Against my better judgment as I had read several warnings on sites like Consumer Complaint, the BBB where Twenty Four Seven Funding and Kelly Fontaine were given an F- rating, I forwarded 1,000.00 (down from this original request of 2,500.00), to secure a home loan. He stated the money would assure them I was a serious shopper and all monies would be applied to his commission on the loan....that NEVER HAPPENED! Nothing seemed right and there were TONS of complaints from people losing very large sums of money, but my "so called" loan broker who was practicing under a false name (Jaye Maxx Alexander with a real name of Jerome Anthony Alexander)also had a REVOKED license in the state of North Carolina. Unfortunately, the NC Banking Commission neglected to tell me that, only that the name did not match the license he reports and includes in all his emails. I am not certain what the relationship is between Kelly Fontaine and Mr. Alexander who has SEVERAL aliases. twentyfoursevenfundingllc@gmail.com 32-03 86th Street #1 11369 Queens - New York City Nationwide

*REBUTTAL Owner of company: Response to Edie Raether-

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Against my better judgment as I had read several warnings on sites like Consumer Complaint, the BBB where Twenty Four Seven Funding and Kelly Fontaine were given an F- rating, I forwarded 1,000.00 (down from this original request of 2,500.00), to secure a home loan. He stated the money would assure them I was a serious shopper and all monies would be applied to his commission on the loan....that NEVER HAPPENED!  Nothing seemed right and there were TONS of complaints from people losing very large sums of money, but my "so called" loan broker who was practicing under a false name (Jaye Maxx Alexander with a real name of Jerome Anthony Alexander)also had a REVOKED license in the state of North Carolina.  Unfortunately, the NC Banking Commission neglected to tell me that, only that the name did not match the license he reports and includes in all his emails. I am not certain what the relationship is between Kelly Fontaine and Mr. Alexander who has SEVERAL aliases. It made no sense that I was required to deposit a grand to prove my sincere interest in a loan as a customized, off frame modular home was already being built so there was nothing to prove.  Mr Alexander informed me that ALL those terrible reports about Kelly Fontaine and Twenty Four Seven Funding were rectified but those filing the complaint had not yet filed a satisfaction to their dispute.  HOW GULLIBLE!!!  I wired the money upon his demand and time limit, NEVER got the loan although Mr. Alexander even got the routing number to my builder's bank account the night before the house was to be delivered.  He played the game right to the end.  It is now almost one year later and no loan and no refund on the 1,000.00 that was to be applied to Mr. Fontaine's commission.  The house has been at a standstill for 10 months and had been forced to pay for it in credit cards at outrageous rates, but not having enough to finish it so I can get it a HELOC has caused extreme hardship and may cause me to lose all....a half million in equity.  PLEASE BEWARE....and SIMPLY RUN THE OTHER WAY. Do not be deceived.  Once they have your money, they are GONE!!! I am not sure if they are working as a team.  

 

To have my $1,000.00 plus that standard interest rate, returned immediately.  The harm done to me and my builder is nearly a million, not to mention the emotional stress and financial hardships, but that would require a lawsuit.  I am simply requesting all monies sent to Mr. Fontaine, the 1,000.00 plus interest that was to be applied to a loan that he never provided and his colleague Jaye Maxx Alexander (alias) promised was processed when in fact nothing had been done.  NOTHING!

 ( A refund was promised in October, 2013 but no refund nine months later) Mr. Fontaine at that time may have been under pressure to offer a refund as he called to report that the FBI had called to inquire about his relationship with Jaye Maxx Alexander (alias).  This was the name he was working under a year ago,

twentyfoursevenfundingllc@gmail.com

 

 


This report was posted on Ripoff Report on 07/05/2014 08:46 PM and is a permanent record located here: http://www.ripoffreport.com/r/Twenty-Four-Seven-Funding-Kelly-Fontaine/nationwide/Twenty-Four-Seven-Funding-Kelly-Fontaine-Against-my-better-judgment-as-I-had-read-several-1159795. 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 0Consumer 1Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Owner of company

Response to Edie Raether-

AUTHOR: TWENTY fOUR SEVEN FUNDING - (USA)

  Kelly Fontaine <twentyfoursevenfundingllc@gmail.com> Attachments7/8/14 to Edie, KELLY Thank you. We have looked at the file and begin to respond as per your transaction.

PLEASE READ AS WE HAVE FORWARDED THIS TO YOUR ATTORNEY IN THE PAST ON 2 SEPARATE OCCASIONS: As noted to your counsel we did our job : it was the misrepresentations that were made to our firm by the borrower and possibly representative that this file could not move forward. In addition we located the exact emails from the second funder who actually reviewed this as a courtesy and they note your constant changes/representations made them pass.

PLEASE READ: ---------- Forwarded message ---------- From: Kelly Fontaine <twentyfoursevenfundingllc@gmail.com> Date: Wed, Jan 8, 2014 at 11:51 AM Subject: 01-08-2014: Scanned image from Sigmon,Sigmon and Isenhower- RESPONSE TO DEVELOPMENT IN LAKE NORMAN -( REFERENCE #44541) To: bfox@richardjamesinc.com Cc: kelly <Kelly@twentyfoursevenfundingllc.com> ( REFERENCE #44541) ---------- Forwarded message ----

------ From: Kelly Fontaine <twentyfoursevenfundingllc@gmail.com> Date: Wed, Jan 8, 2014 at 7:22 AM Subject: Fwd#201-08-2014: 12-23-2013 Scanned image from Sigmon,Sigmon and Isenhower- RESPONSE TO DEVELOPMENT IN LAKE NORMAN To: Stacy Baldwin <stacy@sib-law.com> Cc: kelly <Kelly@twentyfoursevenfundingllc.com> THIS IS OUR SECOND TIME RESPONDING ---------- Forwarded message ---------- From: Kelly Fontaine <twentyfoursevenfundingllc@gmail.com> Date: Mon, Dec 23, 2013 at 12:00 PM Subject: 12-23-2013 Scanned image from Sigmon,Sigmon and Isenhower- RESPONSE TO DEVELOPMENT IN LAKE NORMAN To: Stacy Baldwin <stacy@sib-law.com> Cc: kelly <Kelly@twentyfoursevenfundingllc.com> We will respond as the client did not qualify as per our formal documents (attached). The client did not meet the caveats outlined on page #2 paragraph #2... " The funder will need to be satisfied that the borrower can cover the monthly payments on this loan, that the project is feasible and that there is a reasonable exit strategy to take them out of this commercial bridge loan. They will also need to be satisfied with the borrowing entities financial wherewithal" The funder Trevor Cole could not do the loan and during the preliminary due diligence and issuance of a formal drafted LOI (attached) it was discovered by the funder ,Trevor Cole that this is residential and not a commercial loan as the client signed the formal documents stating; as per our signed fee agreement the client made a material misrepresentation as outlined in our signed fee agreement. This was represented as a commercial loan and commercial property as outlined in our formal documents page #1,Paragraph #....1 "We represent a specific funder, to whom we are correspondent, and with whom we have reviewed your commercial transaction. Based upon the representations that have been made, both verbally and in writing and subject to successful completion of due diligence, our funder will fund your loan request." "This retainer is refundable in the event that our funding source fails to provide a formal proposal to Borrower in accordance with the terms outlined in our accompanying letter, provided that there have been no material misrepresentations or omissions made by Borrower". 2. The client does not have a commercial transaction the transaction is actually residential and this misrepresentation makes the retainer non-refundable as per our signed fee agreement. In addition, the client does not have the liquidity to cover the debt service as this is in direct relation to the financial wherewithal caveat and thus the project is not feasible if the client cannot pay back the loan.. page #2 paragraph #2, sentence #1.."The funder will need to be satisfied that the borrower can cover the monthly payments on this loan". Our formal documents read ...Page #2, paragraph #2..."The funder will need to be satisfied that the borrower can cover the monthly payments on this loan, that the project is feasible and that there is a reasonable exit strategy to take them out of this commercial bridge loan. They will also need to be satisfied with the borrowing entities financial wherewithal." In essence nobody/funding source lends money to parties who cannot pay it back as this is the risk -vs- loss ratio in funding. This defeats the purpose of lending if the borrower cannot pay the loan back. The funder could not fund this loan as follows: from: Dimitrios M Fousteris <dfousteris@tcrmcommercial.com> to: Edie Raether <edieraether2@gmail.com> cc: Kelly Fontaine <twentyfoursevenfundingllc@gmail.com>, Les Agisim <tcrmadv@aol.com> date: Thu, Sep 12, 2013 at 4:37 PM As per our conversation with the President/Owner of Trevor Cole Commercial Corp., Mr. Les Agisim and upon review of your documents, this is to advise that we will not be able to accommodate you on your loan request at this time, due the following reasons a )Paying off an existing mortgage in the amount of $400,000 with 3% interest plus $200,000 construction b) Income and liquidity c) Ability to service the debt d) Value of the property “as is” and “upon completion” In addition and as I have told you on the phone, we do not want to take your money or any due diligence money, knowing in advance that we will have a problem with the loan and it will never materialize I would like to wish you good luck, all our best and thanks for the opportunity Thanks, Dimitrios M Fousteris Senior Vice President Trevor Cole Commercial Corp. Structured Finance 641 Lexington Avenue, 15th Floor New York, NY 10022 Tel: (212) 634-6447 Ext: #2153 Fax:(212) 634-6446 dfousteris@tcrmcommercial.com www.trevorcolecommercial.com We attempted to help her with a second funder and Edie Raether did not comply again... from: Anthony Tomasi <atomasi@ajtmfinancialonline.com> to: Kelly Fontaine <twentyfoursevenfundingllc@gmail.com> date: Wed, Sep 11, 2013 at 2:40 PM subject: Lake Normon Kelly we really wanted to help her, but every time I have a conversation with her it seems like she has a lot of issues and doesn’t really grasp the lending process. As a matter of fact in talking to her more it seems like it is more of a house and she is going to rent two rooms instead of a B&B expansion. I just talked to her and terms we went over the other day of our approval she still doesn’t understand. We are going to have to pass. I am sorry. Anthony Tomasi, Jr. CFP Managing Member 203-539-6080 203-653-2926 866-217-1005 Fax www.ajtmfinancialonline.com A.J.T.M. Financial Group, Inc. Member of the American Association of Private Lenders, Global Capital Sources for Conventional & Alternative Real Estate Funding & Private Equity & Venture Capital Group SBA Lending, HUD/FHA, USDA B&I, Life Companies, Hedge Funds, Pension Funds, Private Investment Pool, Conventional & Hard Money #1 with conditional approval (attached)...Conversation AJTM- > from: Kelly Fontaine <twentyfoursevenfundingllc@gmail.com> to: Edie Raether <edieraether2@gmail.com>, Jaye Maxx Alexander <jayealexander@gmail.com> cc: kelly <Kelly@twentyfoursevenfundingllc.com> date: Mon, Sep 9, 2013 at 3:33 PM subject: -Lake Norman Development- Conventional Financing #2 Here is the conditional approval for conventional financing from another one of our funders portfolio AJTM. You now have 2 choices as Trevor Cole the original funder will do a Bridge loan and/or a conventional loan combination. Just got this from Processing. References are available upon request. Any questions please let me know. Anthony Tomasi, Jr. CFP Managing Member 203-539-6080 203-504-7482 866-217-1005 Fax www.ajtmfinancialonline.com Kelly Fontaine <twentyfoursevenfundingllc@gmail.com> to: Edie Raether <edieraether2@gmail.com> cc: anthony tomasi <atomasi@ajtmfinancialonline.com> bcc: kelly <Kelly@twentyfoursevenfundingllc.com>, Jaye Maxx Alexander <jayealexander@gmail.com> date: Wed, Sep 11, 2013 at 5:45 PM subject: Fwd7: Understood....FINAL RESPONSE AND UPDATE TO BORROWER you are now starting to confuse the funder again and we expaslined to you several times that the personal "jibberish" and extra parties ,daily etc..IS no concern to any funder. Please cease as it confuses the parties ..The simple answer is ..are you moving forward with AJTM or not? Nothing more...Please Advise as this has gotten way out of hand and vefry embarassing as we took thios to AJTM and they are doing this as a favor to our company. SIMPLY ARE YOU MOVING FORWARD OR NOT? {FINALLY, THE VENUE THE CLIENT HAS CHOSSEN FOR DISPUTE IS WRONG. } OUR FEE AGREMEENT STATES AND OUTLINES THE CORRECT PROCEDURES AS PER DISPUTE: This agreement shall be deemed to have been made in and construed under the laws of the State of New York. Any dispute between the parties hereto, arising out of the subject matter of this Agreement, shall be adjudicated by arbitration in New York, NY by the American Arbitration Association. Judgment upon any award rendered there under may be entered in any Court having jurisdiction thereof. We consider this matter closed and our retainer earned. On Fri, Dec 20, 2013 at 3:29 PM, Stacy Baldwin <stacy@sib-law.com> wrote: http://www.adobe.com/ -- -- Very Best Regards,

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