Complaint Review: David Erante Jr - Miami Florida
- David Erante Jr 261 NE 1st Street Suite 500 Miami, Florida United States of America
- Phone: 888-759-3828
- Web: hardmoneyfinancing.com
- Category: Financial Services
David Erante Jr Hard Equity Financing Miami, FL Stole $3400 Miami, Florida
*Consumer Comment: Hard Money Experience GOOD!
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I was referred to David Erante at Hard Money Financing who claimed to be the underwriter and lender for the purchase of a 61 unit property. I received a term sheet with "soft terms" and I was told to negotiate the terms and get back with the "lender." I did negotiate the terms of the funding from 9.5% interest rate to 7.5% interest rate. Once we agreed on the new terms I was told to wire $2500 to their bank account and also to add $900 rush fee if I wanted to close the deal quickly. I did pay the rush fee, so I sent a total of $3400 and received a note from him that it was received. From that point we were to close in 12 days. Erante said the closing date would be May 31st. May 31st came, nothing from Erante. 3 days later I got an email from him saying that there were 2 missing documents and once I faxed them over we could go ahead and get the loan done. Finally the 12th day came and time to close and nothing from him. 3 more days nothing from him. The title company was contacting me each day saying that they did not receive any response from him in regard to the title commitment, etc. My agent and I sent many emails asking him to respond but he still refused to do so. Finally the title company said that they MUST receive a response from him so that we could close on the 15th. Still nothing. This creep just simply took the $3400 and ran with the money. Do not do business with this guy or company. If anyone suggests working with him or sending him a dollar...do an internet search first. This guy is all over the internet. Now I regret that I didn't research well enough. Just like anyone who perpetrates a scam and ripoff...they will rue the day that they ever started it. Then when they are sitting before a court and whimpering that they are sorry...the court has every reason to just shut the door on them and lock them away for a long long long time. If you hear the name David Erante or anything dealing with Hard Equity Financing, be warned..run the other way.
This report was posted on Ripoff Report on 06/14/2011 05:57 PM and is a permanent record located here: https://www.ripoffreport.com/reports/david-erante-jr/miami-florida-33132/david-erante-jr-hard-equity-financing-miami-fl-stole-3400-miami-florida-740803. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 Consumer Comment
Hard Money Experience GOOD!
AUTHOR: L.R. - (United States of America)
SUBMITTED: Tuesday, August 02, 2011
I had worked with this company in the past & had prompt response on my requests for a hard money loan.
I worked with Steve Jacobs & David Errante. They tentativly
answered all of my questions on their programs & although they had
said they were busy & were tough to reach by phone, they always
returned my calls.
It was a fairly simple loan (485k residential
purchase) & the requirements were basic as it was based
on the equity in the property. There was an upfront due diligence
charge to underwrite the file but I know that is standard in the
industry & their charges were the lowest I could find. Especially
in this market there are many borrowers SHOPPING with no commitment to
close on the loan & it would help me get my client to closing with
some interest in the deal.
My borrower decided against the offer but for all of my future hard money deals, I'm sending over to them. They has an unbeatable hard money source with flexibility to work in this market.
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