Lima One Lending Complaints

[Terri Dyer]

I’m looking for others that have had issues with Lima One lending.  Many of the issues I have had and seen Others on the forums include; them jacking up interest rates without informing the consumer right before closing.  Not paying escrow on properties.  Not providing statements, fees, lending documents, other information up front or at all.  This is all unacceptable and illegal lending practices.  I don’t want others to have to go through the same nightmare or risk your investments.

Please post your experience with them.  Also file a report online with the consumer financial protection bureau.  With enough complaints they will investigate them and can file a class action suit against Lima One.  I saw someone else who is also filing with the Secretary of State and whoever holds their lending license.  I’ll file with those places too this week.

I have won a law suit against them to get my pre-payment penalty back when I refinanced with a more reputable lender so my properties wouldn’t be put at risk anymore and the nightmare with them would be over.  I also tried to work with them on numerous occasions before it got to that point.  They however were only concerned about my end of the contract (prepayment penalty) not their responsibility for their part of the contract.

The judge said their “bookkeeping was negligent at best and their attitude about it appalling”.

They of course are now appealing the decision and continue to try to bully me into just going away.  It’s time something is done about their illegal lending practices. 

[Salvatore Lentini]

I have one loan with them now from back in the day that I am refinancing.  I did not have a great experience with them.  I've worked with many alternatives to Lima One with positive results.  These are the same lenders I used to grow my portfolio to 127 rentals (a number I'm hoping to double this year!)