ED Magedson – Founder
Infinity Financial Alliancewww.joinifa.com Internet United States of America
Ifinity Financial Alliance, A Dream? A opportunity?- Not really!!!
I was first introduce to Infinity Financial Alliance About Early 2008, after attending one of their conventions. I was really excited and automatically saw a opportunity to enter the financial services industry. I heard of insurance services before and having a few friends in the "field" i was still skeptical. I continue attending there training meetings every Wednesday night, they called them BPM's. It stands for Business opportunity Meeting, but then i would hear some of the MD's ( so cal Manager's ) call them Bring People Meeting, in a way where it seem they would benefit from it in a good way which at the time i did not understand.
After a few meetings I decided to go 100% I pay my fee of $125 because they started doing loan mods and sending them to a company call HRS (another scam). I didnt like the whole idea of the loan modifications and I decided not to be a part of it. My whole training consisted of Recruiting, Recruiting, Recruiting and more Recruiting!! I what point was I going to get train in insurance products or other services aside of loan mods that I can offer my clients? It was financial services right?. After about 2 months and completing a list of 25 contacts I was told to complete by my trainer my trainer was able to get business from half of my contacts plus 1 loan modification which I had told him I didnt want him to offer that to my family and friends cause I knew there was something not right about the company they were sending the business to. He proceeded to collect the payment from the loan mod a total off over $4,000 dollars and insure my friend he was in good hands. At the time all this agents where getting paid up front from any loan modification business they submitted, so there interest was not the clients well being but theres. Meeting after meetings I would see lines of agents collecting checks from all this loan mod business and I could not understand how agents who have never had any real estate or mortgage or even real estate law training go out there and just sell this loan mods like it was the next great big thing and the answer to every American out there about to lose there propertys. Not to mention it clearly states in the DRE web site, you cannot charge a home owner whos in foreclosure for a loan modification. So how where they getting away with this? I didnt like it. I told my trainer this was not a good thing and he told me I didnt know what I was talking about. (of course he was getting paid so he didnt care.)
I try to convince my friend to get hes money back but he was so desperate from hes current situation that he wanted to give them a chance, sure enough nothing was never done after 3 months he received a letter and soon after a sale date, he was not even able to get hes money back cause according to IFA, (Infinity Financial Alliance) they only did marketing for HRS and HRS had bankrupt so there was nothing they can do. I was really upset, not to mention my MD seem like he didnt care at all, he simple said there was nothing they can do and simple just walk away. How is it that a company who on every meeting was averaging about 50-80k a week on new business (according to what their agents would share) simple just say we had nothing to do with it we just market the company and are in a lawsuit with HRS, not be able to pay ALL and I say ALL the clients that lost money and their houses to this company that there only interest was there money, not the client. And whats even more funny is that if IFA really goes by their motto on their wall strengthening families with trust and integrity .one by one (whatever it was)if this was really there drive, wouldnt there prioritys be to give the clients there money back??? But wait they had better things to do, like the CEP (managing partner) gets a brand new over $100k convertible jaguar, and some of the Top producing agents (who also marketed loan mods and got paid) won trips to Hawaii !! Pay for by the company. How those this work?
My friend did not lose hes house he had to get a Real Estate Attorney to help him, which he did for free. I left the company once I realize that the leaders really dont know anything and are driving just by whatever the top guys tell them to do, even if it means ripping people off and getting rewarded for it. I have a friend that still works there, well used to he just quit. Last I heard is that they now they started selling a debt calculator which helps you pay off your debt for $3,500. Not to mention it those not make the payments of transfers for you. It just tells you when to pay it. Also known as a Merger Account, I think anybody with a brain can Google it and it will clearly let you know the direction this company is headed. They are some really good agents in there but its a really small few, I dont understand why they dont see what a lot of agents have seen and so left the company. My experience was really not a good one and I hope others can post there experiences as well so we can stop companys like this brainwashing people to their benefits.
This report was posted on Ripoff Report on 09/08/2009 12:23 AM and is a permanent record located here: http://www.ripoffreport.com/reports/infinity-financial-alliance/internet/infinity-financial-alliance-ifa-loan-mods-calculators-merger-accounts-retirement-pl-491496. 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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