FIRST SECURITY MORTGAGE: Predatory Loan? / Trust Account Violation?
Neighbors of mine took hard-money loans from first security mortgage of san diego and they will probably lose their home.
Their home is scheduled to be sold by auction by first security.
Their address is: 1111 washington heights place in el cajon.
Many homeowners have taken real estate loans from John Slavin or Paul Rios of First Security Mortgage Home Loans Inc, located at 4669 Murphy Canyon Road #101, San Diego, CA 92123.
Some of the homeowners using First Security have been forced to give an "upfront" personal check that First Security will "hold" until the close of escrow, then the check is cashed at the bank. The broker will actually "go to the bank" with you to make sure you pay the excess, perhaps "unlawful" fees.
When was the last time your banker went with you to your bank to make sure you paid your fees to him in cash to avoid a money trail? Shades of money laundering! Did this happen to you? Do you want a full refund? You may get a full refund with penalties.
Some homeowners have had to pay almost double the fees in cash at the bank at the closing of their home loan, or forced to give First Security a personal check as good faith money upfront to make sure excess fees are paid. Did this happen to you? Do you want a refund? Were you happy with this?
Holding a personal check for upfront fees is not allowed in California and the penalties are severe if a lender is caught cheating. You may be entitled to a refund if this is true. You should contact an attorney or law enforcement, or the Department of Real Estate if this is true. Did this happen to you?
You may be able to collect all fees that you have paid with interest. Would you like a refund?
If you are in danger of being in foreclosure because you took a loan and paid extra high fees; more than $2000.00 total, you should contact an attorney or the Department of Real Estate and get a refund. Did this happen to you? Did you pay more than $2000.00? Did this happen to you? Would you like a refund?
If you were beguiled in to giving an "upfront" fee to the above lender, or forced to pay double the fees, (example: $40,000.00 loan maximum loan fees = $2200.00), you should consult an attorney or contact the Department of Real Estate in California.
Maximum fees in California for fixed rate loans are 6% of the amount financed.
Did you pay more than $2200.00 in fees? Do you want a refund of excess fees?
A person with a $40,000.00 loan could have been forced to pay up to $6000.00 in total fees by giving First Security a personal check, which may be a violation of the law.
Did you pay more then $2200 for a $40,000.00 loan for any reason? Do you want a refund?
You may be entitled to a full refund with interest and penalties.
If you paid more than $2200.00 in loan fees, you should contact a legal professional or the California Department of Real Estate Enforcement Division. Did this happen to you? Do you want a refund?
California department of real estate
predatory lending enforcement
2201 broadway
sacramento, ca 95818-2500
Local Phone Number: (619) 525-4192
Local Fax Number: (619) 525-4375
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Some other borrowers who had very recent experience with first security mortgage's foreclosure mill;
ANGELITO AND NORMA, IN FORECLOSURE ON A HIGH PRICED HARD MONEY SPECIAL. SAN DIEGO 92139 their house is to be auctioned soon.
Rudy pedraza national city ca 91950
in foreclosure now
Christian/brenda of oceanside, ca 92054
in foreclosure now
I have tried to contact people with the same experience;
others who have entered the web of high priced loans
in the last several weeks are:
(all these guys took out very small loans. Want to bet that they were raked over the coals for extra fees?)
Merle and ricardo san diego
Sandra or alfonso san ysidro ca
Robert oceanside ca
Troy or audrey spring valley (no phone)
Victor or claudia chula vista
Mr. Robin san diego
Mr chauncey evans 4296 mount huckee san diego (no phone)
Zoe san diego
Medardo lemon grove
James lakeside
Dwayne san diego ca
Don encinitas ca
Concerned neighbor of:
robert & lori
el cajon ca
Robert
EL CAJON, California
U.S.A.
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