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Hard Equity Financing

Hard Money Lender Scammers

Miami, Florida, 33132

BRIGGS & LAY PRO, INC.
Apple Valley, CA 92307
(800) 216-8871 Ext.5
E-mail: Chayote23@yahoo.com

Re: A Letter To the Scam Lender

Hard Equity Financing
261 NE 1st Street suite 500
Miami, FL


http://hardequityfinancing.com/


David@HardEquityFinancing.com

Our Office sent Hard Equity Financing $1,900.00 in May 2010 because we were approved for a Blanket Loan in the amount of $55,000.00 and their office sent our office documents (LOI) and underwriting agreement stating we were approve for a a loan.


However,after several weeks of their office asking for miscellaneous documents and completing a BPO (Broker Price Opinion) for each property, we received several e-mails giving us a closing date, but at the last minute Hard Equity Financing sent an e-mail stating that due to doing another BPO the value of the properties were not the same and the property value was no long the same in 3 weeks for the initial BPO.


Bull ****!!


It's been over 3 months and we have not received a refund for the $1,900.00 sent to their office and our staff has been unable to get anyone on the telephone and their contract states if there is not loan there will not be a fee, but why has it bee over 3 months and we have not received our funds.

Is Hard Equity Financing a Scam/Fraud/Rip Off/ Financial Game or use other peoples money to make money?


Are there other people been scammed by HARD EQUITY FINANCING



As of today August 28, 2010 our Office (BRIGGS & LAY PRO, INC.) received a cashier check for $250.00 from Hard Equity Financing, but we sent their office $1,900.00 in May 2010 because we were approved for a Blanket Loan in the amount of $55,000.00 and their office sent our office documents (LOI) and underwriting agreement stating we were approve for a a loan. Where is the remaining balance of $1,600.00 and its been over 3 months.

However, after several weeks of their office asking for miscellaneous documents and completing a BPO (Broker Price Opinion) for each property, we received several e-mails giving us a closing date, but at the last minute Hard Equity Financing sent an e-mail stating that due to doing another BPO the value of the properties were not the same and the property value was no long the same in 3 weeks for the initial BPO.
Bull ****!!

It's been over 3 months and we have not received a refund for the $1,900.00 sent to their office and our staff has been unable to get anyone on the telephone and their contract states if there is not loan there will not be a fee, but why has it bee over 3 months and we have not received our funds.

Is Hard Equity Financing a Scam/Fraud/Rip Off/ Financial Game or use other people money to make money?


BRIGGS & LAY PRO, INC.


Is looking for investors that were Scammed by Hard Equity Financing because we were scammed by Hard Equity Financing and we were are not able to get any contact information of several other people scammed by Hard Equity Financing on a (http://mortgagegrapevine.com/thread/?thread=560889) website with the complaints are listed below. However, we were able find several complaints, but we would like their contact information in order to file a Class Action Law suit against Hard Equity Finance/Financing.



HARD EQUITY FINANCE- SCAMMERS!!!! WARNING!!!!


THEY ARE SCAMMERS. DAVID ERANTE JR. IS OWNER. THEY ARE IN FLORIDA. TOOK CLIENTS DD FEE AND AFTER 2 MONTHS CAME BACK DENIED SAYING VALUE WASNT THERE AFTER THEY HAD APPRAISED IT. THE VALUE WAS FINE 3 WEEKS AGO. THERE ARE NO LIENS ON THE DEAL AND THE LA WAS ONLY $100K. BORROWER HAS MID 600 FICOS.
DONT SEND THEM A DIME!
I SUBMITTED 8 DEALS TO THEM AND THEY ALL GOT AN LOI. I HELD BACK SENDING ANY MONEY ON MY OTHER CLIENTS UNTIL I COULD SEE THE FIRST ONE CLOSE.......WHICH NEVER DID AFTER 3 MONTHS...HE WAS TRYING TO GET ME TO SEND MORE MONEY FROM MY OTHER DEALS BUT I WOULD NOT.
by Ronirvinebroker April 9, 2009 7:54 PM

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Who Scammed You Commenter
A Letter to the BLOGGER FOR FALSE STATEMENTS.

As HR manager. I am notified of all of these complaints & it would be nice if they told the whole story.


In defense of HEF, these claims that came in were disputes between customers & HEF. Some even false statements which are outright untrue, as we have been in hard money finance for quite some time now, I feel Hard Money Lenders have been given a bad rap. Most over asking high risk borrower to pay for their own research.


All conventional lender do as well, just it may be a pay at the door appraisal, inspection, credit report fee, ect.


Our borrowers are no A paper loans, these are borrowers with bad credit, high debt, high LTV, foreclosures, Bankruptcy, ect.


I do not think there is a lender out their that would even touch any of these cases and all the risk a hard lender goes out on.


It is only common sense to ask customers to cover their exspenses.



All loan requests that come in are subject to conditions of verifying the value. All of which have a professional analysis on the value completed.



During our process of review, it is common to request additional or
supporting information on the file. Usually we are in contact with
customers on a weekly basis, brokers, even more so.




Yes we will order an appraisal or a BPO & if the value is overpriced, we will correct it.




What lender would give a loan based on inflated values.




The above mention customer, had 5 SFR's & at the time of the value review, they came in substantially lower. Altogether $80,000 lost in value.




We were unable to continue to complete her loan based on these losses of value & a refund was issued promptly.




In fact, we issued twice a refund since the customer lost the first one issued.



I regret she had a problem with HEF, but
it would also have been nice if she told the complete story.

As for ypou
Who Scammed You Commenter
A Letter to the BLOGGER FOR FALSE STATEMENTS.

Also, aside from issuing your multiple replacement checks of the course of several weeks, we on top of that issued you an additional credit of more than what was agreed since you feel your file was mistreated.




I can tell you clearly sir, the file was underwritten & when the value came in, it was not acceptable. I understand you have a lot of money tied up into these vacant SFR's. All of them being vacant is a huge overhead exspense, especially in this economy. You were requesting a cash out on them but our review of the value & the current values trends in the area were unacceptable for your request.




We cannot give you a loan for more than what a property is worth & based on the value reports, that is what you wanted. This is why your file was declined.





We did issued you refund towards your out of pockets costs with us. We even issued you more than what was agreed since you feel your file was mishandled.





But why are you emailing us these bloggs that you are writing?





Why are there comments from other pages copied & pasted into your comments?





Why cant you simply call us? I do not know what more you would like sir as we have extended you our greatest length of courtesy & professionalism.





COMMENT FROM THE PRESIDENT:

If you are persistent to continue stating libel statements about us & identifying yourself as the persons of those statements, we will keep a record & you may find yourself being served a lawsuit for slander.
  • mhenry
  • Submitted: 10/02/2011
My company was scammed by these people as well, last October we were told that our deal was to be funded. We sent $1,600, before we did the deal we saw many negative reviews and David stated it was from former employees and they are on the up and up. The same exact thing happened to us, they gave us a commitment, two days before closing we get something saying the BPO is lower even though we had a licensed FHA appraiser give a subject to appraisal. They sent us $250, any company that wants up front money is a scam. David Errante Jr. is full of it!

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