Capital Direct Funding Josh Taylorassociated Underwriting Dept KEPT MY COMMITMENT MONEY, to slow on approving loan & I lost the deal, they have totally shut down any communication Houston Texas

Capital Direct Funding, particularily Josh Taylor have caused me the worst experience with funding I have ever received. I lost $12,900 in fees and they returned my $50k of comittment money. 

Do not use this company!!!!!!!!!!!!!!!!!!!!!

Here is what happened......

When I first contacted Capital Direct Funding Josh Taylor responded witin a day. He went through their services with me and their reputation. I asked what he would require to obtain a bridge loan so I could do a cash deal to win the bid on an investment property. I told him my time frame and amount needed. I was prepared to put over 20% into the deal. This bridge loan was for 60 days so that I could refinacne on a construction loan which was already in preparation. All of this was done 5 weeks prior to the closing date in September 2013. After reviewing and interviewing several other companies and finding no negative reports on Capital Direct I selected them for my funding. Mind you I did this within 3 days. They emailed all the forms to fill out including a fast approval letter. They asked me to estimate the market value of the property which I did as an "after repair value" All along Josh kept telling me that we would be fine for the closing and that he was sending a list of rquirements needed to complete the transaction and a fee $12,900 to cover the "in-house" apparaisal, closing costs costs etc. which would all be refunded at time of closing. I sent the money and made sure all paper work was in order. Josh said that the underwring department has requested $50k in commitment money up front to put into what I thought would be a cash deal. I sent it and asked again if everything was on track. This is where it fell apart. Go figure.

I was told everything was in oreder and they were waiting for the appraisal. It was now two weeks before closing and I started to Josh daily. The Friday before the closing which was scheduled for the following Tuesday Josh told me the appraisal was not done and that he thought he would have it by Monday. It still shouldn't be a problem to close on Tuesday. The long and short of it was the appraisal had not even been started and that another appriasal company was being hired. This occurred after Tuesday in which I did a dry closing assuming the funds would come by the end of the week. They didn't. As a matter of fact I got the appraisal the following week stating that the property was over priced by $125k and Capital Direct Funding would not be funding the deal and that my initial $12,900 would not be returned due to a failed closing. In addition they would need their legal dept to send me some kind of form (Josh was scketchy on this) that I would need to fill out and return before they disbursed my $50k commitment money. That was three weeks ago. Making it now 4 weeks since the purchase failed. I have continued to leave voice mails on Josh's phone and messeages wit the answerting service. The last two weeks I have heard absolutely nothing.

I will now need to get the Better Business Beareau and the law involved.