Hard Equity Financing Scam
BRIGGS & LAY PRO, INC.
Apple Valley, CA 92307
(800) 216-8871 Ext.5
Re: A Letter To the Scam Lender
261 NE 1st Street suite 500
Miami, FL
http://hardequityfinancing.com/contact.html
David@HardEquityFinancing.com
Our Office sent Hard Equity Financing $1,900.00 in May 2010 because we were approved for a Blanket Loan in the amount of $55,000.00 and their office sent our office documents (LOI) and underwriting agreement stating we were approve for a a .
However,after several weeks of their office asking for miscellaneous documents and completing a BPO (Broker Price Opinion) for each property, we received several e-mails giving us a closing date, but at the last minute Hard Equity Financing sent an e-mail stating that due to doing another BPO the value of the were not the same and the property value was no long the same in 3 weeks for the initial BPO.
Bull Shit!!
It's been over 3 months and we have not received a refund for the $1,900.00 sent to their office and our staff has been unable to get anyone on the telephone and their contract states if there is not loan there will not be a fee, but why has it bee over 3 months and we have not received our funds.
Is Hard Equity Financing a Scam//Rip Off/ Financial Game or use other peoples money to make money?
Are there other people been scamed by HARD EQUITY FINANCING
As of today August 28, 2010 our Office (BRIGGS & LAY PRO, INC.) recieved a cashier check for $250.00 from Hard , but we sent their office $1,900.00 in May 2010 because we were approved for a Blanket Loan in the amount of $55,000.00 and their office sent our office documents (LOI) and underwriting agreement stating we were approve for a a loan. Where is the remaing balance of $1,600.00 and its been over 3 months.
Dot Trust Them
Comments (3)
Unfortunately I did not review the multiple websites containing complaints about this company before they stole my money as well. I am a seasoned real estate flipper and a licensed real estate agent. I knew the comps and value before I put an offer on the house. David and his buddies at Hard Equity Financing took my money and 3 weeks later told me the value wasn't there. Keep in mind, this was after they fell of the face of the earth for three weeks with no communication. I tried to get a response via phone and email, but nothing. Then, when they did send me the denial email I couldn't get a hold of anyone. I haven't heard from anyone since I gave them my upfront money for the application fee. I have only received a denial email, with no response to my emails or phone calls pertaining to that denial email. This is the exact same thing that everyone posted all over the internet about them. I just had an appraisal completed by the original hard money lender I was going to use and it came back at the value I indicated. No return communication from David and his fellow crooks.
Account Closed, over 12 years ago
ANYONE ELSE HAVE THE SAME EXPERIENCE? ANYONE HAVE A POSTIVE TRANSACTION WITH HARD EQUITY FINANCING? LOOKING INTO USING THIS LENDER..
D W, almost 14 years ago
A Letter to the BLOGGER FOR FALSE STATEMENTS. As HR manager. I am notified of all of these complaints & it would be nice if they told the whole story. In defense of HEF, these claims that came in were disputes between customers & HEF. Some even false statements which are outright untrue, as we have been in hard money finance for quite some time now, I feel Hard Money Lenders have been given a bad rap. Most over asking high risk borrower to pay for their own research. All conventional lender do as well, just it may be a pay at the door appraisal, inspection, credit report fee, ect. Our borrowers are no A paper loans, these are borrowers with bad credit, high debt, high LTV, foreclosures, Bankruptcy, ect. I do not think there is a lender out their that would even touch any of these cases and all the risk a hard lender goes out on. It is only common sense to ask customers to cover their exspenses. All loan requests that come in are subject to conditions of verifying the value. All of which have a professional analysis on the value completed. During our process of review, it is common to request additional or supporting information on the file. Usually we are in contact with customers on a weekly basis, brokers, even more so. Yes we will order an appraisal or a BPO & if the value is overpriced, we will correct it. What lender would give a loan based on inflated values. The above mention customer, had 5 SFR's & at the time of the value review, they came in substantially lower. Altogether $80,000 lost in value. We were unable to continue to complete her loan based on these losses of value & a refund was issued promptly. In fact, we issued twice a refund since the customer lost the first one issued. I regret she had a problem with HEF, but it would also have been nice if she told the complete story.
Hard Equity Financing, almost 15 years ago