Beware of: Long Realty Company, First Magnus/Stonewater, and Title Security Agency of Arizona!
This is a true story about my 81 year old father who is a World War II Veteran who got the Royal shaft from Long Realty Company, and their affiliate companies. He decided to retire and buy a house in Tucson, AZ. He put his trust in Long Realty Company. After one day in the home, the nightmares began. This all started at the Oro Valley office with the Long agent / broker on January 22 and the Mortgage Advisor via telephone conversation. She highly recommended using this Mortgage Advisor because he was a Christian and a very dear friend of hers.
They both took advantage of my father's age and the lack of knowledge of Real Estate. She had him sign and date a blank, Loan Status Report.
She also had him initial and sign 9 pages of a blank Purchase Contract. She told him on page 9 to leave the date blank. She told him this was just to get started, and for him to write a check for $1,000.00 earnest money. She told him to offer full price which was $127,500.00, because this house would not last much longer on the market.
My father had only one appointment with the Mortgage Advisor for Pinnacle Mortgage / First Magnus, now called StoneWater. On January 24. My father brought all his documents to his appointment, such as Bank Statements, US Military Retirement Pay, VA Disability Income, and Social Security Income. He had my father sign many blank documents. My father came home without any copies of the documents he signed.
The Long agent also said she was very good friends with the Escrow Officer. On February 5 which was the COE, she had my father sign numerous documents including page 4 of 5 and page 5 of 5 of the loan application.
The Long agent used Pinnacle Mortgage/First Magnus, Title Security Agency of Arizona, and etc. She never gave my father any other options.
They increase his monthly income and liquid assets to quality him for a loan he could not afford. After these companies received their money they sold the loan to CitiMortgage.
My father called the Escrow Officer to get copies that were missing from the closing, she told him they could not give him copies of the documents.
At the end of March we went to the Mortgage Company to get copies of my father's documents. The Vice President said she could give him what she had, and one of those documents was the, Good Faith Estimate that was not signed or dated.
The very first mortgage payment was due April 1 to CitiMortgage.
I called CitiMortgage when I found there was a problem and asked if they could please send me the loan documents. On November 9 when we received the information we requested, I was horrified to find two sets of loan applications with different information including forgery.
We also found out that the owner's mother was the Long listing agent for this property, as it turned out, she was also the seller's agent for her son when he purchase this property back in December 20 for $63,700 per the MLS #2427963.
1. Falsified MLS!
2. Falsified Loan Status Report!
3. Falsified Loan Application!
4. Falsified Purchase Contract!
5. Falsified Seller's Property Disclosure Statement!
6. No permits!
7. Falsified Home Inspection!
8. Falsified Appraisal!
My father had good credit until he did business with Long Realty Company, and their affiliate Companies. His credit is now destroyed. My father's house is in foreclosure and is being auctioned February 27.in addition this house is literally falling apart, the plumbing system is on the verge of total failure, and etc.
Long agent told my father to offer full price which was $127,500 because this house would not last much longer on the market. The seller Tim Hagyard walked away with over $63,000. This same house just sold in June for only $57,000.
Long Realty Company and their affiliates companies, Pinnacle Mortgage/First Magnus, and Title Security Agency of Arizona committed fraud and forgery?
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