ED Magedson – Founder
Al Hopkins710 Ogden Ave Westmont, Illinois USA
Al Hopkins yougotfunding.com Corporate Equity LLC Corporate Equity Total Scam Artist - BEWARE Westmont Illinois
I'm a real estate broker that represented a buyer who wanted to purchase a building for a restaurant. We spoke to a local mortgage broker who referred us to Al Hopkins who supposedly specialized in getting loans for people who couldn't get conventional financing (through a bank).
I was present for the first conversation my client had with Al and apparently he wasn't aware that he was on speaker phone and was listening to the conversation. He immediately starts bad mouthing real estate brokers claiming that "they do nothing but slow up the process" and "we'd be better off without them."
This, in my opinion, was his first attempt to get my client "unprotected" so he could start extracting funds from my client. He promised my client low interest rates, minimal down payments, etc. I advised my client to start looking for different options because I (and my other brokers) knew deep down that he wasn't going to deliver on his promises.
I had other (private) funding lined up for my client but my client insisted on pursuing this option with Al because of the lower interest rate and down payment. I would confront him about some of the things that "didn't add up" and eventually he got so angry with me he hung up on me and wrote me an email telling me never to contact him again. He would often try to tell me that I didn't know what I was talking about, along with other similar
Long story short, he gave us the run around for nearly 4 months, taking $10,000 of my client's money and never delivering on his promises.
He blamed it on the fact that the comps used in the appraisal were not satisfactory to his underwriters. Note: he and his "underwriters" are based in Illinois and the appraiser we used was a local guy who has been doing appraisals for over 15 years.
My buyer almost lost a $25,000 deposit. Luckily my client finally took my advice and went with the financing I had lined up.
There is another complaint on this website filed by someone else who had a similar experience with this Al Hopkins character. Similar ocircumstances, similar outcome. BEWARE OF THIS PERSON!
This report was posted on Ripoff Report on 09/09/2013 12:51 PM and is a permanent record located here: http://www.ripoffreport.com/r/Al-Hopkins/Westmont-Illinois-60559/Al-Hopkins-yougotfundingcom-Corporate-Equity-LLC-Corporate-Equity-Total-Scam-Artist-BE-1082995. 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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