New York Financial Recovery Sent false contract for sale of timeshare, demanding $4000 deposit to process paperwork New York, New York

New York Financial Recovery contacted me with all the right answers. They said my Royal Elite timeshare would be easy to sell and it would be sold 30-60 days, but no way it would last over 90 days. James made sure I would be able to answer my phone for all the offers. I would have to be able to say yeah or nah on the offers. It's been over 3 months and I have not received one offer nor have I heard from James to discuss any issues. This company is a joke and I warn everyone to stay clear. They got $750 out of me and I am sure they will try to get more out of you

A visit to their website does not show much. The link for "about" just says "we finance everything"..no info, no history, no comments..nothing. There are 4 time shares listed on that site..that's it. There is only one other link.."Always wanted that new Ferrari? Get it now!. That link just takes you back to the homepage..highly suspect. Other links on the site are incomplete as well.

Granted there is an address in NYC and phone numbers under "contact us"..but how to verify? An basic internet search for this company yields nothing informative really but the half assed web site, and this report. When did they go into business..yesterday? Are they a legit business at all? I can't find out and I am pretty good with this stuff.

I was going to ask who would be foolish enough to send $4000.00 to a company that has no comments, no reviews, no history, no track record etc..but then I also thought..there are a lot of timeshare scams out there. Anyhow here is what a slightly more advanced search for this business comes up with..

NYS Department of State
Division of Corporations
The information contained in this database is current through September 10, 2010

No business entities were found for New York Financial Recovery.
No business entities were found for New York Financial Recovery.com

The BBB has some interesting info:

Business Name:     
New York Financial Recovery
Business Address:     350 5th Ave 59th Floor
New York , NY 10018
Phone Number:    
(718) 569-6654
BBB Accreditation:     This business is not a BBB Accredited Business

Type of Business:    
ADVANCE FEE BROKERS
Website Address:

http://www.newyorkfinancialrecovery.com/

Rating: F ,the lowest possible
Reasons for the F rating...

• BBB concerns with the industry in which this business operates


• BBB does not have sufficient information to determine how long this business has been operating


• BBB does not have sufficient background information on this business

    Do you really think anyone is seriously going to offer thousands above the listed price for a timeshare that is likely not worth even the listed price? 

    Does that sound logical to you?   If it does, then go for it.

    There are some out there that are of the opinion that people gullible enough to have bought a timeshare in the first place will believe anything.

Now that I read both reports, who do I believe. I, too, have been contacted by New York Financial and was offered $3,000 more than my listing price. Now, about a month later, I have once again been contacted by another person from New York Financial who told me she had buyers for my timeshares which is $9,000 more than the listed price. When I questioned the second caller, she gave me the same claim that the original report said. When I asked if I could take the money out when I sold the property, they said no. Why not? She said it was for legal paperwork.

I have some questions for the person who is dealing with the company. Did you put the money up front and have you sold your timeshare and received the money? If so, how long did it take? If not, how long have they been working on it?

Thank you.

The Rip-Off Report indicates the author was asked to pay $4,000 as a fee for starting the process for selling his Timeshares with NY Financial and he refused to pay that fee.  I have been in touch with NY Financial and am in the process of selling my Timeshare to a prospective buyer.  First let me say that NY Financial is not a Real Estate agent nor are they in the business of selling Timesahres.  They are strictly a Finance Company that handles the financing of prospective buyers, whether it be for Timeshares or property that the prospective buyer is interested in buying and requires financing.  The charges are for lawyer fees and processing of paperwork such as contracts,  buyer financing, filing Quitclaim Deeds and for the Title Search.  Some of these fees are split between the buyer and the seller and none of the fees are for advertising.  One should note that there has never been a Rip-Off Report filed where the fees were paid and the Company did not deliver the sale.  In my dealing with NY Financial I find that they are a reputable Company and will represent the seller in the sale of my Timeshare once the fees are paid and will do everything in their power to accomodate the seller in the payment of the fees and in bringing to conclusion the actual sale of the Timeshare in a timely manner.  The real rip-off artists are the Timeshare Resale Companies who advertise the Timeshare after takiing a healthy fee up front and then never hearing from them again.