I have been dealing with Larry Higgins of TIG The Investment Group, Inc. I believe him to be a mortgage broker. I deposited $6,500 with him to secure a Mutual Business Agreement (MBA), on Oct. 28th. Both parties signed this agreement. TIG's service was to find funding for an income producing property purchase of my choosing.
I was unable to secure a purchase contract on the property I was interested in when that MBA was signed. We changed the type of property we would pursue funding for, and on Nov. 17th, I signed a revised MBA. The existing $6,500 deposit would be used to secure the new MBA. To this date I have not received that contract signed by a representative of TIG. Both of the MBA's contain language which makes the $6,500 deposit refundable.
Due to numerous communciations with Larry Higgins, in which he seemed to not remember what he was supposed to be doing for me, and 7 weeks with no apparent progress in underwriting, on Jan. 11th, I requested he terminate our relationship and the contract, and return the full deposit to me.
He has refused to return the deposit and even refused to quit pursuing a loan on my behalf. Both of these are in direct violation of his contract. When he honors the contract and returns my deposit I will update this post. I will also update if I have to take it to arbitration. Until then, beware.
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