Global Equity Financial, Inc. Roy Koldaro, Vice President of Lending Worst place ever. Avoid at all cost because it will cost you. San Deigo California

I have emails to prove all of my STATEMENTS noted below and for my previous review.  Once again Roy Koldaro is telling half truths. Yes there had been a fire in the enclosed porch addition caused by a pellet stove on the outside wall of the porch. I didn't know this would be an issue. I had only burned a small space inside the room. It didn't burn any part of the actual house. After the house had been re-appraised and very clear pictures had been taken and provided, it was determined that the fire repairs were completed. But Roy and Global Equity Financial, Inc. decided that I needed a home inspection to "verify" that the repairs had been made. NOTE: had the home inspection stated that the fire repairs HADN'T been made the

APPRAISER would have lost his license!!! He also failed to tell you that I had provided HIM with the payment history before I FIRED him. He also failed to mention that both he and Global Equity wanted me to make the minor repairs that the Home Inspector listed on the report that was to cost me more out of pocket money that we didn't have. (Had I been selling my home I would have made the repairs to the gutters.) He also made it sound like we were ready to close, but he knows better, it was not true. He failed to tell you how his company placed a HARD denial on my application to a FHA loan. I have been told by several people that this type of denial is almost never done. In fact the people who told me this, have NEVER

seen it done that way. The reason it isn't denied this way is so that a person csn go to another company and continue their application. He also failed to tell you that on the exact day I was told be Banc of California he called me and wanted to know how he and Global Equity Financial could make it up to me. He offered me money and then he wanted me to sign a release stating that I nor any family member or any type of representative would ever be able to be part of any kind of lawsuit againist him or them. It was an agreement that for EX AMOUNT of money, $585 to be exact I would remove any negative reviews that I had written in YELP at the time and filed a claim with the BBB. If I did this then they would give me the money.

I told them that when they had me pay the monies I had unnecessarily paid, I could have been buying us groceries! Needless to say I refused to take them up on their offer. For me if I can save one single person from this man or Company then I know why I had to go through this. I'm hoping that I can be the voice for others who either can't or don't know how to speak up. I also need people to know that it isn't so much about the money now it is about how I was being treated, like a stupid, old lady who couldn't follow along. And because I did follow along it made them mad. God be with yoy all!

 We strive to make every borrower's experience smooth and stress free, however, there are certain situations that are out of our control. As a direct lender, we can be very flexible with our guidelines (as low as 500 credit scores, manufactured/mobile homes, bankruptcies and foreclosures) and we do everything in our power to make sure that every client is well taken care of. Having said that, when you begin a refinance transaction, you should always inform the lender of any potential hurdles that they might face. In this specific situation, this borrower did not mention that she recently had a major house fire. This was only discovered after the value appraisal was completed. The FHA underwriters were

obviously not going to agree to lend on a fire damaged home, so they required that the repairs be completed. We arranged for the contractors to be paid at closing through the loan. After the repairs were completed, the FHA underwriters required that the appraiser reappraise the home as they needed an accurate value, and could not deliver an appraisal filled with fire damaged photos to the FHA. We arranged for a significantly discounted reappraisal cost given the circumstances. In addition, given the significant damage to the home, the FHA underwriters also required that a complete home inspection be completed to ensure that the home was structurally sound and safe to live in. This came back clear

and the loan continued to move forward. As one can imagine, this whole process was unexpected, and could take quite a bit of time. After successfully completing the appraisal and inspection, we moved forward to the previously disclosed next step. The FHA does not permit active disputes to be present on the credit report so we had to employ a dispute removal company to correct the credit report. This was an additional expense that was disclosed upfront and expected. We completed this part of the process, and continued to move the loan forward into closing. Given the additional unexpected expense incurred by the borrower for the reappraisal, home inspection, and repairs, we agreed to reimburse her at

closing for these two additionial inspection requirements. Prior to closing the loan, we are required to complete a verification of mortgage where we confirm that there have been no 30 day late payments on the mortgage, and confirm that the payoff statement that we have is still accurate (that no additional payments have been made). The pre-closing verification of mortgage came back for this borrower reflecting two 30 day late payments. This was an automatic decline as federal guidelines do not permit for a refinance with any 30 day late payments within the last 12 months. Nobody was happy about this situation, but our hands were tied. The FHA underwriters had declined the loan. After some time, the

borrower managed to convince her lender to remove the late payments from their records, and she was able to close with another lender with her now clean payment history. Of course her experience with the next lender would be much different as all the leg work was completed in our refinance attempt. The home had already been fully repaired, and the dispute already removed. We are very happy to hear that she was able to complete her refinance, but we do not understand why she is attempting to smear our name. We are never dishonest to our customers, and would never want to incur additional expense for our clients. The only costs that this borrower incurred are the following: 1. Original appraisal

2. Fire damage repairs 3. Reappraisal (discounted) 4. Home inspection 5. Credit dispute removal After several months, we decided to follow up with the borrower to see how she is doing. After finding out that she was so dissatisfied with her experience, we decided as a courtesy to reimburse her for the reappraisal, home inspection, and credit dispute removal. She refused our reimbursement offer and instead decided to continue to damage our image all over the Internet. It is unfortunate that this is the route that this borrower has decided to take, however we wish her and her family the best, and are here to assist in any way that we can.