Charles A. Vaughn, presumably worked for IMMEDIATE FUNDING, INC., in Encino, CA manipulated my brother, and me to take out a mortgage loan on our home, inherited from our parents, and fully paid for; on October 19,1999. He persuaded us to take out a loan with payments beyond our means, even though we had earlier agreed to take out a $20,000 loan with payments within our budget. He reported that we couldn't get approve for that loan as we owed a no-interest loan to the County for repairing our roof under a low-income housing preservation program in 1985.
Instead he created a loan for $40,000, which turned out to be $47,000 due to unexplained fees and his costs for his service. Within three months, our loan was sold to another loan servicing company, EquiCredit out of Florida.
Within less than a year, it was sold again to Fairbank Capitol, Inc. Also out of Florida. Due to their fraudulent business practices, our home ended up in foreclosure and was sold Feb. 28, without us ever being sent a Notice of Default or Notice of Foreclosure.
Their loan rep. Rudely told us that we couldn't save our home even though we had a private investigator willing to pay off our entire loan prior to the sale of our home. She lied and said that the home was already sold, but it wasn't. Even though we filed a Chapt. 13, it wasn't enough to save our home.
We had to leave our home, with which was sold to Billion Enterprises for $150,000, even though it was worth $350,000. Though we received the remainer of money after they subtracted the loan balance and had to pay Billion Enterprises, $2,000 of the remainder of the money left from the sale because we had fought trying to save it by filing a Chapt. 13 and going to court, as they failed to served us though they stated in court records that they did, which was found to be a lie.
The entire thing was a financial fiassco, with definite elements of fraud, broken laws, and deceit. Recently, I found out that Charles Anthony Vaughn's salesperson real estate license to do real estate transactions in the state of California was revoked by the California Department of Real Estate August 2,1994. Also, an Accusation was file against Immediate Funding, Inc. Requesting that their corporate real estate license be revoked as of June 23.
So our family was ripped off of our family home, leaving us with minimum funds which were not sufficient to purchase another home, especially within California's bay area and insufficient for us to move out of state, due to permanent bay area employment ties.
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