Report: #969526

Complaint Review: Hard Equity Financing, Miami, FL

  • Submitted: Thu, November 15, 2012
  • Updated: Sat, June 18, 2016
  • Reported By: T Guy Cook — Baltimore Maryland United States of America
  • Hard Equity Financing, Miami, FL
    261 NE 1st Street suite 500 Miami fl 33132
    Internet, Florida
    United States of America

Hard Equity Financing, Miami, FL Rip off deposits, Fake Letter of intent Internet, Florida

*Author of original report: Advance America Property-T Guy Cook

Show customers why they should trust your business over your competitors...

Watch working with this company! Avoid this place.
I have been in the lending business for 25+ years now and a very well respected lender in the industry.  I sent Hard Equity Financing 2 very legitimate easy to do deals with tons of verifiable equity.
Received a terms sheet, met the conditions, sent in deposit fee for due diligence, appraisal, etc, then nothing?
They simply disappeared, no return phone calls, no return e-mails, nothing, "poof" gone.
Finally after 2 months had passed, I did get a hold of them and was informed the loan was now a turn down for lame reason on a "stip" that I had already been approved for according to their underwriter.
This company may make a legit loan every now and again? Dunno, but I would not risk your clients money or your good name attempting to do any real business with this firm.
It is companies like this that give the private hard money lending industry a bad name and puts the wrong spotlight of attention on us legitimate lenders.
be careful
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This report was posted on Ripoff Report on 11/15/2012 07:19 AM and is a permanent record located here: 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 Author of original report

Advance America Property-T Guy Cook

AUTHOR: T Guy Cook - (United States of America)

The gentleman who wrote this report did not identify himself, but from the way this report is written and the timeline that it was posted.  Yes we do believe we know who the author is.  Bottom line , We delivered exactly what was outlined in our term sheet in accordance of our lending agreement.  When the borrower /contractor failed to perform the proper work as promised for the rehab job and bounced a check on us for payment.  We withheld future repair escrows until proper and qualified work was performed.  Our aim is to have a positive interaction with each and every client when possible. This same client was eventually fired by the partner investor and another contractor had to be brought in to complete the rehab job.

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