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All Forum Posts by: Brian Burnham

Brian Burnham has started 1 posts and replied 5 times.

Post: Lender ran off with down payment

Brian BurnhamPosted
  • Real Estate Agent
  • Nashville, TN
  • Posts 5
  • Votes 2

@Bridgette Delva I have contacted a lawyer and I’m not ready to spend the money yet to try and get my refund. If the company has no assets then I’m out even more money. I’ll see what the Attorney General comes up with but the company is is technically still in good standing as an entity in Arizona. I’ll keep everyone updated on the progress. Thank you

Post: Lender ran off with down payment

Brian BurnhamPosted
  • Real Estate Agent
  • Nashville, TN
  • Posts 5
  • Votes 2

@Lee Bell I have been pushing since Late October last year and my last communication with them was in January this year where they agreed that I would be getting a refund. I checked with the BBB and found one thread online where this similar situation happened to someone from the same lender. I make it a point to call or them every day since, at least I will have a record of them avoiding me.

Post: Lender ran off with down payment

Brian BurnhamPosted
  • Real Estate Agent
  • Nashville, TN
  • Posts 5
  • Votes 2

@Pamela Sandberg I called the Department of Financial Institutions in AZ they stated because the contract did not involve land, they were not able to help me. They recommended that I contact the Attorney General in AZ which I have done and am now filing a complaint. We shall see what turns up from here. Thank you

Post: Lender ran off with down payment

Brian BurnhamPosted
  • Real Estate Agent
  • Nashville, TN
  • Posts 5
  • Votes 2

@Chris B. 45 days was what was stated in the contract that they were to fund the builders at Monogram Tiny homes. Koala financial group as part of K Bear Capital out of Arizona were the lenders. Medallion Capital Finance LLC were the funders on my contract. Craig Ray was my contact at Koala.

Post: Lender ran off with down payment

Brian BurnhamPosted
  • Real Estate Agent
  • Nashville, TN
  • Posts 5
  • Votes 2

I was looking to buy a tiny home a few months back, found the unit that needed a couple updates. The builder recommended a finance company based in Phoenix, Az. I spoke with the lender that was a tiny home specific lender. Everything seemed legitimate. I made a decent sized down payment and after a couple months, I never received contracts for the financing agreement and the builder never recieved the funding. I tried contacting the lender for a couple months to check the status and after a few months I said that I wanted a refund. The lender sent me a message saying they were waiting on the bank in order to issue a refund and at this point it has been almost 8 months since this whole process started. Any advice to get my money back? Should I take legal action? How can I proceed? Thanks