In April I was asked to work at a small mortgage company, whos only employee was the Vice President. The President of the company was let go and all the staff left with her. Lori hired me to help her increase business, and she hired two of my frineds who worked at my last job. All of us started at the same commision split and at the same time. When we started, there was no desk, phones, computers, and printers. I had to go and buy a desk, and chair my first day. All of us worked together to get a office cleared from files, and broken equipment including my husband. We were not able to work, we had no desk, computer, printers, phones, and supplies, for the first month. Since we are a mortgage company we need to be able to type and print out the borrowers application. We all were using our cell phones to call borrowers. We all had to share Lori's computer when she was out of the office to type our applications. I was asked to open the office from 9:00am to 7:00pm monday through friday. After a few weeks working for Lori, she gave me the title of President. I thought because of my back ground of owning and operating a company, and my decication to help her make money, she was rewarding me with this new title. After my husband learning of my new position, he asked her why she gave me the new title. She told him because I was doing a great job, no money was ever talked about.
A few weeks I spoke to Lori that I would like to buy a commerical building and I would like to see if she would like to move Loans Unlimited. Our plan was to find a commerical building, and I would buy it as a existing business, so I would have to only put 10% down. At the same time Lori wanted to mover closer to her business and asked for my daughter Stephanie to help her find a home in Laguna Niguel. She found a home she liked and I loaned her $5,000.00 to open escrow.
Lori agreed to allow me to refinance my property in Huntington Beach with no cost and a 0 point loan for helping her with her down payment on her new loan, and I could loan the business money to buy Phone system, desk, printer, fax, and other supplies. She also agreed to help Angie with a 0 point loan for her new home. My refinance was for the down payment on the commerical building, and buy computers, phones, fax, and printers to help loans unlimited and we could move the equipment when the building is finished. Lori paid me the $5,000.00 not long after her escrow closed. Again I was never asked to pay any money to be President of her company. The broker from my last job was helping me and Lori to find a commerical building. Lori and I both went to look at one in Irvine, and I put a offer in to purchase. Lori went to all the meetings and helped pick out the colors for our new office. Lori closed a loan just before going on a 5 to 6 week vacation, and asked John Williams to follow up on the payment of the loan and help with broker packages while she was gone.
John Williams was never in the office, and I had to help out, by opening the office and help the other staff with any problems during Lori's absent. On one of my loans I could not get loan doc's because Lori did not send in a corp. Document to the state of nevada, and I had to loan Lori money for John Williams to get the company off suspension.
When Lori returned things started changing. She was all stressed out, she was not paid for the loan she closed before going on vacation, and she was mad at everyone in the office. She had no loans in her pipeline, and Tim, Angie and myself were doing around 3 loans each.
All of us were making money but her. She seemed to be in financial problems, but we were closing jumbo loans. When I asked Lori for her tax records, for the new building, she asked me for a loan of $5500.00. She took the money and sent me a letter telling me she could not get me her tax infomation. This is when the problems started. She wanted me to give her everything I put into the business, Phones, Printer, Desks, computers, money loaned and my Hess commisions, that I was not paid.
I told them that it seemed that the business was in trouble and I do not see the benifit of having stock in the company for all my equipment and that I wanted to pass, but loans unlimited still could move to the new building, we had to start a new real estate business, since I could not provide tax records for loans unlimited.
On October 28, I was let go as president, locks changed but was told I still could work there. I still did not get paid for a loan that closed in Aug. Due to low business funds, and I closed two more loans, that I was never paid for. I feel they were going to ripp me off from day one.
To this day, they refused to give me back my equipment, or pay me $31,000.00 in commisions, or pay back the money borrowed. I have tried to go to the police report the equipment stollen, but was told this is a legal matter.
John Williams says that I signed agreement to hold Loans Unlimited harmless, so if I sue, I will have to pay lawyers on both sides. I was told this could get expensive but I need to stop these people from doing this to someone else, and they locked me out from my own personal belongings. They have to be stopped...
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