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Report: #99372

Complaint Review: The Investment Group - Nationwide

  • Submitted:
  • Updated:
  • Reported By: Tucson Arizona
  • The Investment Group 34522 N. Scottsdale Road #212Scottsdale, AZ 85262 Nationwide U.S.A.

The Investment Group, John Jennings AKA Allforeclosure.com Dishonest dealings rip-off! False advertisement. Scottsdale Arizona

*REBUTTAL Owner of company: Defamation of Business Character

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The Investment Group is a real estate consulting company based in Scottsdale, Arizona. The company was founded by John Jennings. The Investment Group advertises that they can help people to save their homes because of their vast knowledge and understanding of the foreclosure process.

The home went in to foreclosure in March due to a loss of a job in August, as the company I was working for was purchased. I made the payments until January 2004 and missed a payment. Several attempts were made to contact the mortgagee company Homecomings Financial to set up a repayment. Homecomings would never call us back. The Investment Group contacted us and told us they could help. They claimed they could purchase the house and rent it back to us and when we were ready, we could purchase the house again. That would get us out of the foreclosure.

The Investment group meets with us in March and had us sign an agreement that they would purchase the house and rent the house back ,with an option to purchase. They were supposed to provide us a copy of the agreement as we asked several time but never received one. The process was that they would find an investor, package the loan, and get a new loan to pay off Homecomings.

The house was scheduled to go to sale on June 1, 2004. We keep contacting the Investment Group to find out the status and they keep saying do not worry we do this all the time. In May they said they could not do anything until we gave them $1300.00, first they called it rent and when we said you have not purchased the house yet, the owner called and said oh it is a good faith estimate and we can not do anything until we get the money. They told us things like we are negotiating with the second, we are trying for a short sale, and we requested a payoff

We did get a hold of Homecoming and they had no record of any communication with anyone. The day before the sale, we contact the owner John Jennings of the Investment Group and he told us that we would need to file a Bankruptcy, Chapter 7 to stop the foreclosure because they needed more time as they had a buyer. We told them that we were already in a Chapter 13 to pay back income taxes and did not want to screw up the 13. John insisted and yelled at my husband that they have a buyer and we could file and just not turn in the paper work and it would delay the foreclosure. He said just do what I say; I do this all the time. Marsh McHenry the person we were dealing with delivered the papers for my husband to fill out and file with the courts.

I was out of town at the time starting a new job so my husband went ahead and filed with the stress of losing the home with no where to go. The Investment Group faxed the filing of the bankruptcy to the foreclosure trustee to delay the foreclosure. It delayed the foreclosure for a couple of weeks. We received a notice the day the house went to foreclosure sale. We called the Trustee and Homecoming and they had no record of anyone contacting them to delay the sale as the Investment Group told us they had done.

I called the Investment Group to advise them that the house went to foreclosure and they said it was our fault because we had not gone through with the Chapter 7. I requested that they return the money because they guaranteed me that they could help in arch and they had asked me not to put the house up for sale for work with anyone else. I could have sold the house to pay off the debt in full and not have a foreclosure against me.

Jean
Tucson, Arizona
U.S.A.

This report was posted on Ripoff Report on 07/17/2004 06:27 PM and is a permanent record located here: https://www.ripoffreport.com/reports/the-investment-group/nationwide/the-investment-group-john-jennings-aka-allforeclosurecom-dishonest-dealings-rip-off-fal-99372. 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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REBUTTALS & REPLIES:
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1Employee/Owner

#1 REBUTTAL Owner of company

Defamation of Business Character

AUTHOR: John Jennings - (U.S.A.)

POSTED: Sunday, October 24, 2004
August 13, 2004

Hi,

In response to the Reference Letter of Dorothy Jean Kviberg, Tucson, Arizona, I have researched the file and determined the following:

The Kviberg's wanted The Investment Group (TIG) to find a buyer for their property to purchase it, and lease it back to them so that they could continue living there, even though the property was in foreclosure. They were told that the property would need to be done under a Short Sale in order for an investor to be interested enough to purchase the property and allow them to live there, considering their past payment history with the mortgage companies. Their credit was in bad shape, but it was possible to do this. TIG charged the Kviberg's $1,300 to consult in this work. The Kviberg's were told that they were going to have to work with us to help us sell the property in the time frame that we had, prior to the foreclosure sale. They agreed.

The following are the steps taken by TIG to accomplish the purchase of the property.

-The Investment Group (TIG) compiled the Kviberg (Owner) paperwork necessary to accomplish a Short Sale with the Mortgage Companies on their foreclosure property.

-TIG acquired the payoff amounts on both mortgages and wiring instructions.

-TIG acquired the contact dates, times, and what was said in the transactions with the mortgages company and the title company on the second mortgage.

-TIG had contact with the owner of the second mortgage on the said property.

-TIG found a buyer for the property, allowing the owners to continue living there, even with their poor payment history to the mortgage company.

-Owners met with buyer at the property.

-Buyer advised owners that they could still live there after he purchased property, and would make a contract out to them.

-TIG made a contract with buyer for the property.

-Owners then told the buyer that they were not interested in living in the house any longer, that they were moving to Tucson, Az.

-Owners told buyer that they no longer cared if house went into foreclosure or not, because they were not interested in the property any longer. They were not going to do anything to stop the foreclosure process.

The foreclosure date was closing fast, and the owners were asked to consult their BK attorney to place the house under their Chapter 13 BK until the buyer could buy the house, or they could do it themselves. It would be no more than 30 days for closing through the title company. Both the buyer and the title company called the owners and asked them to work with TIG to postpone the foreclosure, they only needed a few more days.

The Kvibergs refused to cooperate, and as a result, lost their home. The owners did not do anything to postpone the foreclosure process. They then lost the property to foreclosure, hurting their credit, the buyer, and the mortgage company who incurred the costs of foreclosure.

TIG performed the work as agreed and the fee earned. The buyer was ready to purchase the foreclosure property, but the Kviberg's allowed it to be taken in the foreclosure process at no fault of TIG.

TIG assists people nationwide with distressed properties. There is only so much that can be done if a property owner refuses to work with us. The company tries its best to assist people in the foreclosure process, but needs the owners support to assist them in getting out of the foreclosure process.

If you have any further questions, please contact me.

Thank you,

President
www.allforeclosure.com
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