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Updated over 1 year ago, 04/02/2023
The plight of investing with Patch Of Land -What can I do as an investor
Hello:
I wanted to start this thread, as I see a lot of investors on this forum who are the victims of the vicious company called Patch Of Land (POL). Now it came out under a new mask called Patch Lending.
I have two properties underwater. Total 10K investment. For one property it appears POL got the money back including interest. For the second one, POL says the title was a fraud ( so much to the due diligence this company did). Now they do not want to tell how much they received on the property that they got payments. POL has appointed a guy by the name of Carlos ( who happens to be the co-founder of POL ironically) who is offering 50 cents on a dollar. The contract for settlement is a bit stringent. The settlement contract does not allow the investor to pursue POL in the future with any claims.
Questions:
1. Has anyone in this forum taken the settlement offer? I have already burnt my fingers investing in this shady company, so trudging carefully. If you have considered the settlement offer, appreciate it if you can share your thoughts.
2. I have seen posts from folks considering a class action suit. I searched for any links and did not find any. I cannot afford an attorney. Hence I am a bit pushed to the corner.
Please suggest any options.