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Report: #548933

Complaint Review: Spartan Home Loans - SACRAMENTO California

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  • Reported By: lisaw — elk grove California United States of America
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  • Spartan Home Loans 9616 Micron Avenue SACRAMENTO, California United States of America

Spartan Home Loans Red Shield Inc Defrauded me out of my livelihood 2.5 acres of land and a Barbershop in Sacramento California SACRAMENTO, California

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Spartan Home Loans & Red Shield Inc are hard money lenders who operate in defrauding me out of 2.5 acres of land and a barbershop which was in my possession for 10 years. A Sherman Collins was able with there help borrow 325,000 on land he did not own. He presented them with a title to my property which I never authorized. He said in the beginning that he could help sub divide the property into a mixed use residential and business. He would of not legally without the help of these mortgage companies received a loan for that amount he claimed on the mortgage loan he made 4100.00 per month. He originally told me he had money backers and to put this loan into a LLc to avoid anyone suing me . The LLc was on paper only because it was never a legitimate LLC then he transfered it to a LLC which the loan was processed in 2007 yet the LLc was no longer valid in 2006. On the documents it noted who I was and it was noted disregard paperwork to follow. At the time I did not know he got a loan. In his deception and with the help of Spartan Home Loans I put title in Bell Creek Estates, he put it in River Tree Properties then after he secured a loan he transfered it back to Bell Creek Estates which generated a letter from the real estate fraud unit due to 3 changes of titles thats when I learned he had got a loan on the property. He has vanished, Spartan Home Loans repossessed the property, my business, my barbershop, even though I still have paid the establishment and barber & cosmetology license, Spartan Home Loans changed the locks which has all my equipment and is now accepting payments from the barbers in the shop.  

This report was posted on Ripoff Report on 01/02/2010 09:03 PM and is a permanent record located here: https://www.ripoffreport.com/reports/spartan-home-loans/sacramento-california-95827/spartan-home-loans-red-shield-inc-defrauded-me-out-of-my-livelihood-25-acres-of-land-and-548933. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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