• Report: #464345

Complaint Review: Network Capital Funding

  • Submitted: Tue, June 23, 2009
  • Updated: Thu, June 25, 2009

  • Reported By:Seattle Washington
Network Capital Funding
2040 Main St, Suite 420 Irvine, California U.S.A.

Network Capital Funding The famous bait and switch rip off artists sam roumi and network capital funding Irvine California

*Consumer Comment: Some thoughts

*Consumer Comment: I have to agree with the original complaint

*Consumer Suggestion: Proof of Hoax

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I Originally inquired with this company about a refinance two months ago, April 19th, 2009. I looked at four different mortage companies, on the phone network capital appeared to be the lowest. They told me the interest rate was 4.625% fixed for 30 years with $6,700 total costs for everything , escrow, closing costs, and title work and I was faxed a good faith estimate from this company and it was filled out by an employee by the name of sam roumi, so it seemed legitimate. I paid $out of my own pocket for the appraisal which seemed like a shady process with them to begin with, my gut feeling was it was starting off bad from the get go. My Loan amount was $292,000.
A month after the appraisal was completed I was still waiting for the approval and waiting for the loan to close. After my approval on the loan, they tried to tell me the interest rate was now 5.375% or I would have to pay 4 points to get my 4.625% rate back, would would equate to $11,680 in addition to the $6,700 for costs of the loan which is absolutely crazy. They never locked my loan, they had no intention of getting me that rate or being honest and upfront. This sam roumi guy was absolute scum. I'm an attorney so I know what kind of scam artists this guy and this company is, I'll make sure to report this outfit to the better business bureau as well
This sam roumi guy is as shady as they come, this company should be shut down, and this sam guy should go to prson, im sure this company and especially sam have been ripping off people for many years. Do yourself a favor and your family favor do not ever do business or ever consider doing business with sam roumi or Netwrok Capital Funding located in Irvine, California

Verlaine
Seattle, Washington
U.S.A.


This report was posted on Ripoff Report on 06/23/2009 10:22 PM and is a permanent record located here: http://www.ripoffreport.com/r/Network-Capital-Funding/Irvine-California-92614/Network-Capital-Funding-The-famous-bait-and-switch-rip-off-artists-sam-roumi-and-network-c-464345. 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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#1 Consumer Comment

Some thoughts

AUTHOR: Abram - (USA)

I am just a random reader and do not claim to know the truth about this post as these days there are many fake posts online and you cannot trust what you read. However, I wanted to say if this is really what happened then it is the buyer's fault for not getting the rate in writing or looking over any terms and conditions that they may have signed. In any economic climate, it can be difficult to make the payments on a home mortgage. Between possible high interest rates and an unstable economy, making mortgage payments may become tougher than you ever expected. The danger in refinancing lies in ignorance. Without the right knowledge it can actually hurt you to refinance, increasing your interest rate rather than lowering it. One of the major risks of refinancing your home comes from possible penalties you may incur as a result of paying down your existing mortgage with your line of home equity credit. In most mortgage agreements there is a provision that allows the mortgage company to charge you a fee for doing this, and these fees can amount to thousands of dollars. Before finalizing the agreement for refinancing, make sure it covers the penalty and is still worthwhile. Along these same lines, there are additional fees to be aware of before refinancing. These costs include paying for an attorney to ensure you are getting the most beneficial deal possible and handle paperwork you might not feel comfortable filling out, and bank fees. To counteract or avoid entirely these bank fees, it is best to shop around or wait for low fee or free refinancing. Compared to the amount of money you may be getting from your new line of credit, but saving thousands of dollars in the long run is always worth considering.

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#2 Consumer Comment

I have to agree with the original complaint

AUTHOR: R. E. - ()

Last January 21, 2013, I had all paperwork ready and signed for a loan approval. I received a good faith estimate, all I was waiting on was the result of the appraisal. Come time to finalize the details, I got a call from Omeed Sadat Darkeh and he told me that the rate had suddenly changed.

I was flabbergasted at the new cost, which would mean more money out of pocket. I already was up to my nose in closing cost and he then tells me that if I wanted to keep the super low rate, i would have to pay extra thousands of dollars.

truth be told, I was ripped off. Stay away from this company. AT ALL COSTS!

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#3 Consumer Suggestion

Proof of Hoax

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

This is a hoax from a disgruntled employee who was terminated by Mr. Roumi.

The actual customer in this complaint has been contacted and is assisting in the removal of this report. They have already submitted a letter of denunciation.

It is known who was actually behind this bogus report as well.

We look forward to Ripoff Repots removal of this very soon.
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