ED Magedson – Founder
Daniel Peterson1207 Antoine Dr. Ste 200 Houston, Texas United States of America
Daniel Peterson Verified REVIEW: Home Equity Lending, Inc Customer Satisfaction Commitment: Daniel Peterson committed to customer satisfaction, Home Equity Lending, INC implemented strategic changes to insure clients success, focusing on finding ways to help clients search for new opportunities effectively even in the sort of challenging market we face today. Specializing in Texas commercial loans, Houston, Dallas, Austin, San Antonio, Dallas, Fort Worth Metroplex
*UPDATE: Recognized by Ripoff Report Corporate Advocacy Program as a safe business service Daniel Peterson clients can feel safe, confident & secure when doing business with Home Equity Lending, INC. Ripoff Report Verified on location
Ripoff Report Verified REVIEW: EDitors UPDATE: Positive rating and recognition has been given to Daniel Peterson and Home Equity Lending, INC for its commitment to excellence in customer service. Ripoff Reports discussions with Daniel Peterson of Home Equity Lending, INC have uncovered an ongoing commitment by the company to total client satisfaction. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any complaints or concerns. Home Equity Lending, INC listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services offered and the support for those services.
Daniel Peterson Loan Modification Scam Houston, Texas
Before I lay out my grievance, I want to comment on the rebuttal Daniel provided for a similar complaint filed against him a year ago. His reply was typical, as he made fun of the person who lodged her complaint. His mocking, sarcastic tone was so Daniel like. Thats how he treats people when he no longer needs them (or their money).
Almost sixteen months ago (5/7/09), Daniel called me. I repeat: DANIEL CALLED ME. He asked what my APR was and did I have a fixed or variable rate. I told him that my APR was 8.65% and that I had a variable mortgage rate. He asked if I would be interested in lowering my rate to 1% and halving my house payment. I said sure, what do I have to do. He talked about a new government program that was set up to help folks with high rates cut them down to something reasonable. He told me that for $2000 cash, I could have a loan mod in 6-8 weeks that would cut my rate to near 1% and halve my payment! I obtained two $1000 money orders and delivered them to his office the very next day. That was it, that was our agreement, my $2000 for the loan modification. This constituted our verbal contract.
At that time, proof of income was not a requirement. No one said anything about having to qualify income wise for a modification. Some months later, proof of income became part of the modification application process.
Regardless, on numerous occasions Daniel promised to refund $1500 of the $2000 if the loan modification did not go through. During the last 6-8 months, I asked repeatedly to have my money reimbursed. Daniel refused to do so, NOT because of qualification issues, but because he was confident that he could get the loan modification. He told me on more than one occasion that millions are getting loan modifications right now.
To get a feel for how untrustworthy Daniel is, see the article located at http://www.breitbart.com/article.php?id=D9HNEND00&show_article=1&utm_source=Newsletter&utm_medium=Email&utm_campaign=Morning%2BBell .
As I read this article, I had the sinking feeling that I had been on the receiving end of a lot of BS. Less than 600,000 have received loan mods. Over 500,000 have either been rejected or dropped out of the program. It is getting more difficult to get loan mods, according to the article.
About six months ago, Daniel encouraged us to stop making on-time mortgage payments. He said and I quote I cant take your case to a negotiator and ask for a loan mod when all your payments are timely. I listened to Daniel and slipped a couple of payments. Im not blaming Daniel for our falling behind on the mortgage; it was just really stupid of me to listen to him. I accept responsibility for the difficulties that have transpired since. I really believed that he was going to get us the loan mod.
Until a week ago, Daniel continued to stall. He asserted repeatedly that he was working on the mod. He asked for a little more time to re-submit an application. He told me and I quote if you dont get the loan mod, Ill refund your money.
When the mod was rejected once again, I called Daniel and asked for my money. He did a sudden about face and said thats not the agreement we have! Unbelievable! He then cut me off, as he had done many times before, and left me reeling with the reality that he was going to rip me off and there was nothing I could do about it.
Now, we are behind on our mortgage. The $1500 refund would have covered two payments as we play catch up with the bank. Slipping a few payments has ruined our credit. In the not too distant past, Daniel had ads plastered all over the internet seeking to drum up money for more loan mods. His advertisements carried the phrase guaranteed loan mod or your money back. I wonder if he is standing behind those ads. What a joke.
I dont care how many loans Daniel Peterson claims to have closed successfully or how many of his transactions are from repeat customers. I have been swindled out of $2000, period. And I would bet that Im not the only person who fell for his loan mod scam.
This report was posted on Ripoff Report on 08/30/2010 11:54 PM and is a permanent record located here: http://www.ripoffreport.com/reports/daniel-peterson/houston-texas-77055/daniel-peterson-verified-review-home-equity-lending-inc-customer-satisfaction-commitment-635903. 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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