This is a Murphy's-Law kind of complaint, long and complicated, but here's the gist of it. Don't do business with Geoff Kane. Uber Caveat Emptor!
After months of research into many companies, my husband & I chose Geoff Kane from Riverview Mortgage, part of Riverview Bank. But after not closing our loan for 2 months, Mr. Kane told us that my husband's bad debt was what was stalling the loan and that his bank (i.E. Riverview Bank) would advance us the money to clean up the debt. He said this would bring up my husband's credit score and then the loan would sail right through. He used the standard legalese ("I can't promise, but I'm 98% certain."). He offered a short-term loan for 0% interest in the form of a promissory note that he told us was a second lien on my husband's home.
While I read the promissory note prior to my husband signing, I explained to my suspicious husband that in essence Riverview Bank was giving us the 0% for a few weeks on the small loan in exchange for the years of interest that they would earn on the big loan. Mr. Kane agreed. I also noticed that the company name on the promissory note was Bavarian Financial Ltd. I asked him, point-blank, was that Riverview's parent company (I had investigated Riverview Mortgage but not their entire corporate structure). His response was "Yes, exactly." I told Mr. Kane at this meeting that if he didn't get the refi we would need him to extend the terms of the promissory note. He seemed to agree.
After jumping through his hoops and cleaning up my husband's credit post-haste, he proceeded to... Ignore us. He stopped returning calls and e-mails for the entire duration of the promissory note. When it came due and we still didn't have our refi, he suggested my husband sign a controlling interest in his home over to third party and that we sell the house and split the profit. I couldn't believe he was advocating for the loan company against us, instead of being our advocate. I told him, in very polite language, no effing way.
When I realized that Geoff Kane was working against us instead of for us, I began to dig deeper. But when I asked for a new copy of the original promissory note from Riverview (I had misplaced my copy), I was then that I was informed that Riverview Bank had not issued the loan. That was the first time that I was told that Bavarian was not the parent company of Riverview.
Now I went online, investigated Bavarian Financial Ltd. (as I would have done BEFORE signing the promissory note IF Mr. Kane had been honest with us). They only have a simple website (no contact numbers, just 2 e-mail addresses) and a P.O. Box. I had to call the Washington Secretary of State to get a physical address and any names of anyone in the company. They won't even tell me their receptionist's name. We never would have chosen to do business with a company like this, but now that we've been defrauded into their promissory note, we don't have any choice but to work with them.
With no jobs, we could only get one low-cost consultation, but (and this was the only good news in this whole debacle) she was able to tell me that the promissory note is not a second lien on my husband's house. But we're still left with a huge debt just dangling in space, and I'm now negoitating with Bavarian Financial to get them repaid, but we have nothing to pay them with.
Luckily, the president of Bavarian is talking to me directly (no run around so far). But this has destroyed my husband's credit and his nerves.
I have not mentioned Mr. Kane's most egregious lie because I want to keep my only ace close to my vest, just in case we have to litigate this matter. Riverview Bank told me they've fired Mr. Kane after receiving my complaint from the Office of Thrift Supervision, so they did the right thing by us. But they're not going to help with the fraudulent loan. I will update this posting with Geoff Kane's 3rd lie as soon as we have resolved this with Bavarian.
I want people to know about Geoff Kane before he can do this to anyone else. But to summarize, Geoff Kane lied about the source of the short-term loan, he lied about what the loan was tied to, and he lied about one more incredibly important matter. Don't do business with this "gentleman" (I'm trying to be respectful), no matter what. He comes across as very cool headed, but he will not work for you. He only seems to work for himself.
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