EXECUTIVE SUMMARY:
We are seeking a refund of $12,500, which is the total amount of money we paid in fees to get a loan through Baytree Funding. We are also seeking approximately $3,000 in additional expenses associated with applying for this loan, including travel, bank fees and processing fees.
After nearly a year, Baytree Funding has failed to fund a loan despite assuring us in writing that we were approved for both a rehab loan and a $1 million line of credit. The company assured us that the loan was ready to go into underwriting.instead, the company said the only reason they havent funded the loan is because the person in charge of the companys retirement plan, which we are seeking to use the funds for the Linton deal, is no longer with the company
Baytree Fundings Managing Director, George Witherspoon, has made no further effort to keep us in the loop as to whether we will ever receive funding for the loan or a refund of our fees.
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