I am a real estate investor with 15 years of experience I own 13 apt buildings 2 condos and one commercial building. I was defrauded by Lima One. I have been approved for over 10 mortgages and understand the process immensely. At closing I was told that I would have to use my own money first and then lima will refund me. Also at closing I was told that my rate would be 15%. I cancelled the deal at closing even though I spent thousands during the approval process. The broker called me and let me know that the money takes a few weeks to Come in. He said that Lima will be sending an inspector to help me weekly so I will be paid each Friday. Needless to say inspector showed up months later the company made many excuses and It appears they ran out of money. 5 months later my Lima broker bought a Ferrari. currently we are in litigation with Lima. I would advise everyone to pass this story around. If you were hurt by them call the Cfpb and submit complaint.
