ED Magedson – Founder
Athas Capital26901 Agoura Rd. Suite 250. Calabasas Hills, California USA
Athas Capital Alim Kassam,Brian O'Shaughnessy, Pedram Minoofar, Steve Nicholl Dishonest, prey of people who are in financial distress, they cannot deliver bait, and switch Calabasas Hills California
We applied for a hard money mortgage loan construction loan. They asked us to sign a document called Letter of Interest. In that document, there was a cancellation fee of $144,000. We signed it because I wasn’t going to cancel. We also paid them $1,950 for an appraisal, which is very high. We asked them total of 6 times though emails and phone calls to give us a copy of the report, but they refused, even though by law, they are required to give a copy within 3 days of receiving it. We never cancelled the loan and we needed the loan. They couldn’t deliver. They said it was because we didn’t have the Occupancy Certificate. How can we get that when we have not finished the construction? Talking to other private lenders, we found out they have the worst reputation and are known for bait and switch tactics and not being able to do large loans because they can’t raise big money from their investors, so they use excuses to not do the loan and attempt to extort money in the lieu of hefty cancellation fee. [continued below]....
This report was posted on Ripoff Report on 06/23/2014 12:16 AM and is a permanent record located here: http://www.ripoffreport.com/reports/athas-capital/calabasas-hills-california-91301/athas-capital-alim-kassambrian-oshaughnessy-pedram-minoofar-steve-nicholl-dishonest-1156711. 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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