Montage Holdings and InHome Financing Ronnie Espinoza, Sean Hays, Sean C Hayes, Ron Espinoza Scam, Idiots, Liars, Accept fees and do NOT deliver Los Angeles, California

I’ve gone back through my emails again.

  Ron found a lender who changed the cap rate from 8% to 10% and who was charging a rate of 12%.  When you change a cap rate 2 points and charge 12% interest, it’s going to drastically change the price of any property.    Then per Ron’s email the lender withdrew the loan because “His (the buyers) credit was lower than he stated which disqualified him from that program.”   Ron has claimed I was acting fraudulently, etc.  The truth is, Ron scammed the buyer by taking a fee and not getting him a loan.    Also notice the lender is "Mike" 

From: respinoza@inhomefinancing.com 
Date: Thu, 4 Mar 2010 05:01:01 -0800 (PST)
To: Nathan Tabor<nathan@nathantabor.com>
Subject: Re: FW: Deal

First of all I did nothing wrong.  When David sent in his worksheet we offered terms according to what was stated.  If the info on the worksheet was correct he would of qualified for the program we quoted.  His credit was lower than he stated which disqualified him from that program.  The Bridge Investor that offered to finance his purchase has their guidelines we have to follow.  I do not "scam" people.  
 
 
Thank you,

Ron Espinoza 
InHome Financing 
Direct: 734-754-0117 
Fax: 734-293-5056 


Begin forwarded message:

From: respinoza@inhomefinancing.com
Subject: Answer
Date: February 26, 2010 at 8:53:36 PM EST
To: dqdave99@yahoo.com
Cc: nathan@nathantabor.com
Reply-To: respinoza@inhomefinancing.com


The Cantrell file will only be able to move forward at a value of 700K Max as per our investor.  

I have attached the Underwriters NOI worksheet of what the property will cover from a DSCR for the Bridge loan.  The investor is actually basing that the cap rate at 10% due to the property location.  See second bridge lenders comments below:

Property would not come close to sales price on appraisal - gross rental $106,704 - approximate expense charge of 30-40%.  We would only offer a cap of10% due to the location.  We respectfully decline at the current sales price.  Counter offer to lower value and loan amount.  We would need to have new purchase contract at the lower terms before moving forward. 

Mike

We can only move forward if the terms are acceptable to the borrower and seller and a new purchase contract is drawn up, executed and provided.  The purchase contract has the ability to have a provision added that the purchase price will be determined and will be changed to what the appraisal comes in at.  We would also need Mr. Cantrell to provide bank statement showing the funds are available for the down payment and that the funds have been seasoned for at least 3 months.  

If we can move forward with the terms listed above, let us know as soon as possible and we will have a new LOI issued for Mr. Cantrell to sign.  We look forward to the borrowers decision.  Thanks again for your business and have a great day.


Thank you,
 
Ron Espinoza 
InHome Financing 
Direct: 734-754-0117 
Fax: 734-293-5056 

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For some reason this just showed up in a google search.

First, I didn't file a complaint.  I was simply the seller of the property and hadn't engaged Ron Espinoza or his company.  I assume David C. filed the report.  There are THREE similar reports on RipOffReport.com about Ron and Sean. 

Second, Ron makes false claims in his rebuttal.  The fees to David C. were not all refunded.  See emails below. 

Begin forwarded message:

The person who filed this report with RipOffReport.com has never been a client of mine. This person, Nathan Tabor, who filed the report has never retained me for brokerage services.

Nathan Tabor was upset because the property he was selling to my client, David Cantrell, was inflated over the true value of the asking price. The value of the property was based off an appraisal, which is out of my control. Because Nathan Tabor was unable to get away with his scam on inflating the price of the property over $100,000 over what he was selling it for, suddenly he claims that I am a scam artist because his fraudulent maneuvers were found out.

My investors who underwrite and fund these loans all require a certified appraisal in order to fund a property deal. When a property is found to appraise at a lower price than what the final purchase price is, the seller has the option of dropping the price to the appraised value or to back out of the deal. The other option is for the client to make up the difference in the value which would have cost my client $100,000. My client chose not to go forward with the deal because he did not want to come out of pocket the $100,000 required over the appraised value of the property. I have never worked with a buyer of a property who was willing to come out of pocket to make up for a seller's asking price by giving up hard-earned dollars at closing just so a seller can rip off a client by selling a property for much more than appraised value.

My client, David Cantrell, chose not to fall for Nathan Tabor's scam and decided to terminate the deal because he did not want to come out of pocket $100,000 in order to close this deal. Nathan Tabor, the seller, had the option to lower the final purchase price to appraised value in order to sell his property. He failed to lower the asking price.

No lender in today's lending environment will lend above what appraised value is on a property whether it's a residential or commercial property purchase. Because the seller, Nathan Tabor, was running a scam and insisted on selling the property for a super-inflated price well above $100,000 ABOVE appraised value -- and was unsuccessful in his scam -- suddenly everyone in the lending world is a scam artist when, in reality, Nathan Tabor (the seller) is the scam artist in this deal.

And finally, the lender offered to transfer all fees that were paid to them (from the buyer, David Cantrell) to apply toward another property deal. Again, the seller, Nathan Tabor, never paid for any of the brokerage or lending services provided. All fees paid by the buyer were offered to be applied to a different (preferably more legitimate) property transaction.

From the lender himself in an email directed toward me in reference to Nathan Tabor's unprofessional communications (which included approximately 85 emails) to me, this is the response I received from my lender (Sean Hayes from Montage Holdings):

"Ron,

I appreciate you keeping me apprised of Mr. Tabors rants. Rest assured we have provided enough documentation to validate the UW findings on the Cantrell file. We have more than explained the reasons for the denial of Mr. Cantrell file and can only do what falls into program guidelines and meets our investor, who is providing the financing, requirements. Typically, the one who barks the loudest is only trying to deflect his own wrong doings. The inflated value and fraudulent activities regarding the listing on Loopnet. In the end we still put a offer on the table that he refused to renegotiate with the borrower. I fear for Mr. Cantrell most in this situation. I hope he is not locked into the contract.

We truly appreciate your business and look forward with you and your borrowers in the future."