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Report: #290347

Complaint Review: LRP Capital - Woodland Hills California

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  • Reported By: Los Angeles California
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  • LRP Capital 20935 Warner Center Lane Suite B Woodland Hills, California U.S.A.

LRP Capital Mortgage Company Woodland Hills, California, Woodland Hills California

*Author of original report: LRP Capital - Good Effort To Make Things Right

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Beware of promises and delay tactics used by this company. They might give you the impression that your loan application has been approved when in fact it may not have been.

Unlike most forthright mortgage brokers, they will likely not provide you with a Good Faith Estimate (despite it being required by law) on the loan they promise over the phone or email, nor the name of the lender. They will likely keep you hanging with constant revisions to their initial quote on rates, terms and financing details.

My experience was that after having paid for an appraisal per their request and instruction, at the end of 49 days of their on and on promises of loan documents "to be ready to sign in a day or so" I was finally advised my loan was not approved. This final announcement was given after they had bungled things by not providing the lender with details on my recent retirement property purchase which I had advised them of. The lender found out on their own and declined the loan feeling "things were being deliberately hidden" This overwhelming error on their part started things going from bad to worse.

They also promise to have extensive contact with lenders and the lowest mortgage rates in the market. NOT So! Their Executive Loan Officer Laith Ragadi was a serious part of the problem as was my often absent Loan Officer Steven Taylor. So may promises were made between the two of them, THEY had trouble keeping tract of them. None of them were kept.

To date, I still have not received a copy of the property appraisal for which I paid $375.00 in October! Nor have I received the refund they also promised.


I was only provided a copy of Estimated Fees from their escrow office after demanding them. They definitely work at keeping you in the dark when it comes to details.

I would not recommend this company to anyone seeking to secure any type of mortgage loan. I will be following up with a formal complaint with the California Consumer Affairs Commission.

RMB
Los Angeles, California
U.S.A.

This report was posted on Ripoff Report on 12/10/2007 01:56 PM and is a permanent record located here: https://www.ripoffreport.com/reports/lrp-capital/woodland-hills-california-91367/lrp-capital-mortgage-company-woodland-hills-california-woodland-hills-california-290347. 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

LRP Capital - Good Effort To Make Things Right

AUTHOR: Rmb - (U.S.A.)

POSTED: Tuesday, December 11, 2007

Check for appraisal refund and copy of appraisal were forwarded to me 12/11/07. That was a much appreciated gesture from LRP's Laith Rabdi and Steven Taylor to try and make things right for all the drama I experienced.

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