ED Magedson – Founder
optimum first mortgage8900 warner ave fountain valley, California USA
optimum first mortgage, mike timoschuk rip-off loan officers - appraisals required but no loans fountain valley California
After discussing with several mortgage brokers, I chose to work with Optimum First.
After encouraging discussions with Mike Timoschuck, and full documentation of income and asset situation, I locked into TWO loans on two properties that I own. I was instructed to get appraisals on the properties, which came back with appropriate pricing levels. I was told all was in order and waited further instructions. These appraisals cost me over $1000.
After weeks of no news, I finally received emails that my loans were CANCELLED. I called Mike immediately but did not reach him, i sent DOZENS of emails, but recieved NO response. More phone calls, more emails. And ZERO RESPONSE from Mike at Optimum First. When I finally managed to reach him, he said they were "still working on it".
Weeks went by, and no news. Again, dozens of emails. No response. Now it has been months, and apparently the loans are inactive. I spent over $1000 on appraisals and did not recieve ANY NEWS on my loans and why they were cancelled.
I feel that this is a scam. Perhaps they are working with appraisers to get homeowners to spend money with no intention of giving loans. Common business practice would include a phone call or a detailed email about what happened, why I spent $1000+ with this company when there is no loan at the end.
I would avoid Optimum First. And I woudl avoid Mike Timoschuck at all costs.
This is not a reliable or trustworthy businesss.
This report was posted on Ripoff Report on 06/08/2013 02:59 PM and is a permanent record located here: http://www.ripoffreport.com/reports/optimum-first-mortgage/fountain-valley-california-92708/optimum-first-mortgage-mike-timoschuk-rip-off-loan-officers-appraisals-required-but-no-1057560. 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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