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Updated about 5 years ago, 10/28/2019

Account Closed
  • Lender
  • New York, NY
14
Votes |
133
Posts

WHEN HARD MONEY GOES WRONG

Account Closed
  • Lender
  • New York, NY
Posted

I'VE USED HARD MONEY FOR OVER 7 YEARS, NEVER HAVE I DEALT WITH A COMPANY SO CONFUSING/WRONG/ARROGANT/DIFFICULT AND IMPOSSIBLE TO WORK WITH. 

HERE'S THE FACTS...

BORROWER: 7 YR FLIPPER, 30 + FLIPS, DECENT CREDIT

THE DEAL: PURCHASE; $150K, REHAB $75,000 ARV: 350K

MY CLOSING COST: $52,000 (INSANE)

NOW ITS TIME TO DRAW THE FUNDS: HML WON'T ALLOW A REALLOCATED FUND SCHEDULE, WILL NOT MOVE MONEY AROUND TO FIT THE FLIP, STATED THAT THEY ADVANCED ME $33,000 AT CLOSING (MY LAWYER CAN NOT FIND THESE FUNDS ON THE HUD, AND LASTLY WILL NOT ACCEPT PAID INVOICES FROM LIC CONTRACTOR FOR WORK COMPLETED.

THIS LENDER TOOK OVER 2 MONTHS CLOSE, LIED ON THE HUD, LIES ON EMAILS, TRIES TO CONFUSE YOU WITH THE WORD "CREDIT" (NO CREDIT WILL BE GIVEN). THEY WILL FORCE YOU TO MAKE ALL 12 PAYMENTS UPFRONT WITHOUT EXPLANATION ...ETC ETC.


HARD MONEY LENDER: TEMPLE VIEW CAPITAL, LLC OUT OF MARYLAND! 0 OUT OF 10 FROM ME! NEVER AGAIN AND BE WARNED

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