Scam artists take advantage of reverse mortgages victims My Heart Goes for all the people whom have been scammed and Ripped Off, Including myself, By These three Home Improvement/ Construction Companies that are all owned by the same family....Scamed Me, Took Advantage Of Me and Many Other Victims Los Angeles, California

My Heart Goes for all the people whom have been scammed and Ripped Off, Including myself, By these three Home Improvement/ Construction Companies that are all owned by the same family...

Also the same owner was chased by the FBI many years a go, ( that's what Ive herd) they left the country and came back with new names, and here they doing it again...

Now let me explain what do I mean by Rip Off! & Scam Reverse Mortgage.

Since Reverse mortgages are designed to target senior citizens, the population are victim of fraud;

The sales person calls you, or just arrive at your door out of no where and tells you that they are having a project near by and that they are there to give you a free estimate.

The telemarketers are thought to investigate about your reverse mortgage, and when a sells person comes to your home, he tries really hard to convince you that he is  hired by the government especially to upgrade your living status, and if they don't go for it, Guess what???  

The company sends a new Representative, while the first one calls the office, and gives them more information and NO SALE.

Second Representative from the second company on the way, sometimes the same day and sometimes few days later, and since one cannot sell, guess who's next? The one next, which usually between the three companies, some one does get the job done, and if not, the company sells the address to other companies.

So far are you following?  GOOD!!!  Now when the sells person arrive, they ask the person to show them their reverse mortgage papers, and if they are too old or can't remember, they search the house until they find it.

When they find out how much money the victim has, they ask the person to call the bank and ask for the money, and if the owner don't know how to say it, they tell them, talk to my son, and the sells person acts like the owners son?

The owner or the sells person writes a request asking for the money in full, signed and dated.  Cleaver Isn't it???? 

So, from the time the letter goes out, the Reverse Mortgage mails back the entire money with a check paid to the client, the sells person also promise the client a gift of $500, $2000, $5000, more or less if there is a lot of cash flow, and the owner is very happy, since they are going to have their renovated. Sweet!

Now, Let's say, the owner have a $50.000,00 worth of reverse Mortgage, so the entire contract will be for this amount or something like this, while the entire home improvement only cost $10.000 more or less, cause thjey do a cheap work...

Now they have $40,000,00 to pay which 50% from the net profit is shared between the sells person and the owner.

Now, As soon as they have the victim sign the contract, the work is in process, as an immediately, never giving the client a chance to cancel or change their mind. They don't even tell the client that they have three days cancellation policy, and if some do, they convince them that it is best to start the process now...

REMEMBER, The client think they are God sent Angels from the Governmant... h*ow mean is that????

If the client insist to wait for 3 days, they may wait, but in the mean time, they will brake something in the house letting them know that they need to order the matching whatever products, roofing, tiles, woods, paint... you get the picture... and if they have to, they will send someone to mess up with the wires in the house or from ouside the house...

I have called and sent letters to the BBB and contacted the construction department, as well the FBI, the 20/20 requesting to investigate this scam and no one ever contacteded me for many years now, and now I am glad to find out your website.

And I truly hope this will help to stop them from scaming people....

I am able to help with the investigation, all the way, and because of these people. the owner of these three companies, my life had been a rollecoaster for many years now, my credit score that was perfect now is ruined, and someone need to stop them.

Also all three companies are located in Sunset, except the one in Van Nuys that they meet with the workers, and the contractors. All calls are received in Sunset Office, the owners are Oded and Zohar ( they are brothers) not sure what is their last names...

99% of their imployees such as ( an indepandent contractors) are Illigal Immigrants, which with time they marry the telemarketers for green card purposes, or their friends, they have over 20 sells people, over 30 telemarketrs... and many contractors

They train their sells people to rip off the owners, how to lie, how to talk, and how to pretand they are on the phone with the office giving them a better deal rushing them to take it now or they will lose the deal, while the phone is off... ( yes, no one on the other side, or it is another sells person) and let me tell you they are Good!!! they have done it for years and years now...

If you think their victim is only Reverse Mortgage Victims, you are wrong, but the reverse morgage is the worst ones.

They have their own loan people, they put lean on the homes, they take everything, and when you can't pay, it's over.. These people are all about money, They have no heart, no simpathey.... and they give many good Home Improvment Companies a bad Name. Espacially to the ones who are from the same cultures, but are truly honest people.

If you know any who is a victim, please have them post their experiance here, until someone stops them.

M.J Constraction Lic # 562932
24939 Alicante Dr, Calabassas, Ca 91302
323-454-1487 323-790-0734
 
Royal Builders
5419 Sunset Blvd # 227,
Los Angeles CA 90027  Lic # 803030
800-667-1669  323-957-9523
 
Quality Constraction  Lic # 852512
29831 Vista Del Arroyo
Agoura Hills, Ca 91301
888-466-3147   323-469-4916