Hello,
I am in NY and I started a hard money loan with a company. I am self employed and had to go this route to refi my home(no mortgage). They liked my information and said they would be able to fund my loan after due diligants. That started 2/2/10. They asked for $2500 for any payments they needed to make(Underwriting, title, etc). They wanted it only wired money. I was always on top of anything they needed and did not hold them up ever. They did my Pro Forma and said all was good. Then I come to find out they use an investment pool to fund my "project". It has now been 5 months and not 1 bite. They have a physical address and it is in South Bend Indiana. I checked it out with their landlord. This money was being used for an addition to my home(baby on the way 10/10) and to fund my business. I have full equity in my home(250k) and was only asking for 150k. It was a easy loan and I have good credit. I feel like they do this a lot. I am on a investor page with my "project" with others and with the greatness of computer I found the same thing with a guy in Chicago. They have given the, "This will fund quick" garbage. I emailed them that I want my money back and nothing. I assume I have to send a certified letter but where do I file small claims for something like this? I am in Albany NY and they are in South Bend, IN. I called my court and they said they have to be in this jurisdiction. I'm the one who was bilked of money and I have to travel to Indiana and fight for my money on their turf? Tell me I'm wrong, please.
I can answer any questions about this. I'm lost on this one and if you can help I would be very grateful.
Thank you
I am in NY and I started a hard money loan with a company. I am self employed and had to go this route to refi my home(no mortgage). They liked my information and said they would be able to fund my loan after due diligants. That started 2/2/10. They asked for $2500 for any payments they needed to make(Underwriting, title, etc). They wanted it only wired money. I was always on top of anything they needed and did not hold them up ever. They did my Pro Forma and said all was good. Then I come to find out they use an investment pool to fund my "project". It has now been 5 months and not 1 bite. They have a physical address and it is in South Bend Indiana. I checked it out with their landlord. This money was being used for an addition to my home(baby on the way 10/10) and to fund my business. I have full equity in my home(250k) and was only asking for 150k. It was a easy loan and I have good credit. I feel like they do this a lot. I am on a investor page with my "project" with others and with the greatness of computer I found the same thing with a guy in Chicago. They have given the, "This will fund quick" garbage. I emailed them that I want my money back and nothing. I assume I have to send a certified letter but where do I file small claims for something like this? I am in Albany NY and they are in South Bend, IN. I called my court and they said they have to be in this jurisdiction. I'm the one who was bilked of money and I have to travel to Indiana and fight for my money on their turf? Tell me I'm wrong, please.
I can answer any questions about this. I'm lost on this one and if you can help I would be very grateful.
Thank you
