Bankers, Lenders, and Mortgage Brokers

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Scott Mednick
  • Developer
  • San Clemente, CA
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Fixandfliploan.net Worst Lender ever. Do not use this lender

Scott Mednick
  • Developer
  • San Clemente, CA
Posted Aug 3 2022, 14:55

I was investing in a different state than my usual lender will go into, hint, its a flyover state. I found fixandflip.net and talked to one of the owners. She told me with my experience (20 years flipping) that this should be and easy deal since I am buying the home 55 cents on the $. Well, I sent in all paperwork in the first day and was told they had to wait for an appraisal. Ok I can wait. But they run their business using VA's in another county. Including the main underwriter is a VA that has no authority. What? and underwriter that has no say about the loan, what is that?? That alone could work if the VA's were trained how to complete a loan. Oh, yes this was stupid, they wanted money upfront that would be giving back at the close of escrow. 8 weeks later (I was told they could do this in 3 weeks) the VA's kept asking for the same paperwork 3 to 5 times over and over. The VA's asked the appraiser 3 times to fix the appraisal, but each time a week would go by and waste time. Anyway, do NOT use this company Flipandfixloan.net for any reason. They have no idea what they are doing. They are based in Washington State. STAY AWAY! JMHO

Developer

Orange County, California

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Robin Simon#2 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
562
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450
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Robin Simon#2 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
Replied Aug 3 2022, 14:59

Good warning - there is a lot of variability out there with hard money lenders (and by that I mean that a lot of scammers/bad apples out there), quick perusal of their website shows no google reviews and their social buttons (facebook, twitter) were dead links - IMO in this day and age you should never go with a lender that doesn't have a rock solid reputation and track record that can be confirmed with a 5-minute google search and perusal