ED Magedson – Founder
T & M Commercial Funding259 Minot Ave Auburn, Maine USA
T & M Commercial Funding Todd Johnson, Jacob Machaud Hard Money Lender Operating Out of House: No Formal Education: Doesn't Understand BPO's Auburn Maine
Simply google their address, which foolishly I didn't, to see what you are dealing with: 259 Minot Ave, Auburn, ME 04210
T&M Commercial Funding, Todd Johnson, and Jacob Michaud, pre-approved a transaction with full knowledge of credit history and all of the details. Their "underwriter", Todd Johnson, and Jacob Michaud took 3 weeks to find a person to do an appraisal. They failed to find an appraiser and blamed it on my property which is a typical corner property in South Minneapolis. They then rejected the estimate of an appraiser with over 20 years of experience in BPO's. Her estimate after 15 hours of research was approximately $200,000. Their estimate was $40,000 - $50,000. Seriously, a property in South Minneapolis going for that amount? I will buy every single one if that is the price!!!! The commercial property I own was nearly complete and only needed $75,000 to finish. The city was going to contribute an additional $20,000 at a minimum. Jacob Michaud wrote that my property was a "White Elephant" and a "Ginger Bread House". The information provided him included plans for a new grocery store across the street, 200 new employees occupying another building, and a revitailization plan supported by the city of Minneapolis.
The process took over 6 weeks to recieve their condosending feedback. The CEO Todd Johnson, who has no college education, would not return my phone calls. Jacob Michaud has a basic education and is very junior at best. They wasted my valuable time and wasted money in the process!
This report was posted on Ripoff Report on 04/17/2014 12:19 PM and is a permanent record located here: http://www.ripoffreport.com/reports/t-m-commercial-funding/auburn-maine-04210/t-m-commercial-funding-todd-johnson-jacob-machaud-hard-money-lender-operating-out-of-h-1139668. 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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