You are enticed to pay $200 for listing of homes in pre-foreclosure in your area (I was told there were thousands in Los Angeles) and that all you have to do is select the ones you are interested in and they will do background checks for liens, etc. And set up appointments for you to view the homes.
The way it works is they have hard money lenders who will purchase the home and sell it to you for no money down, only income verification. They do this because they will charge you a high interest rate, but you are able to refinance at any time with no penalty. Either way, they get paid.
What they DON'T tell you is that you have to (at your own expense) send letters to these homeowners trying to get them to sell their house to you. Guess what? I sent out a hundred letters and got NO responses.
Whenever you have a question / complaint you are directed to their customer service line where you will wait a minimum of a half hour EVERY TIME you call. You will get no resolution to any of your problems (such as the website taking forever to load, no response to your letters, etc etc.) nor will they refund your money.
Total scam!
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