My husband and I were keen to purchase a commercial property not far from us. Whilst we were shopping around for a loan to finance this, MONEYTREE MORTGAGE gave us a UNSOLICITED phone call telling us that we were PRE-QUALIFIED & PRE-APPROVED for a loan of $60,000 and that all we had to do was pay the $300 filing fee in good faith. Of course we thought it was too good to be true and my husband asked the guy (RON MASSEY) if the loan was guaranteed and he said yes.
My husband after some thinking decided to go with MONEYTREE MORTGAGE and they promptly sent us the email application form and deducted the $300 from our account. Now, fast forward to todays date (11.05.03), we've been told that our loan cannot be closed until we've cleared certain open accounts on it, then we have to wait until it reflects on the credit report, AND ontop of that, they DEDUCTED another UNAUTHORIZED $300 from our account which now totals $600! Our action was to take this to our bank and we disputed the $600 taken from our account on grounds of misrepresentation and decievment.
We are now in the middle of have the money returned to our account via dispute with our bank. I've noticed that a lot of people have gone through what we have, either been hit in our account twice, been told to close out open accounts on the credit report or been bounced off from one person to another when we're tried to reach them.
People, if you have been ripped off like us, go to your bank and dispute the $300 application fee on thee same grounds we did, many people are still waiting for a REFUND THAT WILL NOT ARRIVE! How many loans are there that MONEYTREE MORTGAGE has closed? Why isn't there any "SATISFIED CUSTOMERS" that have written in their defence? STAY AWAY FROM MONEYTREE MORTGAGE!
Ying
Chicago, Illinois
U.S.A.
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