ED Magedson – Founder
CLS Mortgage920 Argonna, Spokane, WA Internet, Select State/Province USA
CLS Mortgage All talk, all greed, worthless brokers. Spokane WA
I needed a hard money lender to perform a refi for exisiting debt on commercial property. I called Tara Azaroff and Jeff Ball who did a conference call with me. They were very ager to get the loan gong for me and told me that they had a private desk who would be able to fund the deal within 30-45 days. CLS put together a letter of engagement to get the ball rolling. CLS told me they they needed $12,000. upfront to do site visits, and due dillagence to get the deal done. I sent CLS the fee, and we started working together.
Three weeks had past they called me to tell me that the private desk was going to pass on the deal because they had to many other deals to look at, CLS did not do any site visits, they did very little underwriting, and charged me $12,000 to get a NO from a private desk that I never even got the name of. I requested the fee back because they really did not do anything a 9 year old could not do and Jeff said he has never returned an upfront fee nor would he consider it on this deal. I was able to get somebody else to fund the deal, so I'm not looking for lenders responses, this is a very serious warning not to work with Jeff Ball with CLS Mortgage. They did nothing but collect a fee and forget about me.
This report was posted on Ripoff Report on 05/09/2013 07:24 PM and is a permanent record located here: http://www.ripoffreport.com/reports/cls-mortgage/internet-select-stateprovince/cls-mortgage-all-talk-all-greed-worthless-brokers-spokane-wa-1049747. 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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