Demarco Lies,Lies & More Lies Philadelphia Pennsylvania
Demaco continues to insist they helped me & they have met all my demands. I have made no demands of Demarco. There were many false promises made by 1 or more employees at Demarco. In this respect I am at fault for beleiving them.
Demarco has written they have sent a customer satisfaction survey to my home, i have never received any surveys; what i received was a form in Feb demanding I send them contact info: if this form was not returned they would assume i had abandon the property & have no alternative but to start legal proceedings; when I ? Demarco regarding this a mgr at Demarco advised it was company protocol to send the letter a lot of the clients they had helped were not paying the rent,everyone received the letter.
Demarco has all my letters on file, I have all their letters on file also, I never heard from Nu-credit & I have not been contacted by anyone on Demarcos behalf regarding the repurchase off my home. The most recent letter I received from them was a letter statng they have not received the rent for may,The letter has a very hefty fine over 1000 however in their defense if payment has been mailed Thank you,etc,etc.
I have been paying Demarco by check from the cashout they gave me at closing,I prefer not to speak with them ,they do not enforce what they say especially regarding what was told to me at closing.
I understand now that was a false promise ,that i unfortunately beleived. I have one hope if I hit the lottery ,I can be a homeowner again.
cj
union city, New Jersey
U.S.A.
1 Updates & Rebuttals
Carlyn mccabe
union city,New Jersey,
U.S.A.
The Saga continues
#2Author of original report
Thu, June 05, 2008
I would like to add some final facts regarding Demarco's rebuttal.An attorney was never mentioned to me,Demarco had their own attorney (Montgomery Buck) his siganture was on the lease document that was signed by me in October of 2007.
I had suggested Bankruptcy ;Demarco assured me that they were a reputable company& the Bankruptcy laws had chnged drastically.
The 2900 rent was agreed on at closing because Eric Hovkin assured me that the extra 600 a month rent would be sent to me in an additional wire;in order to cover the additional 7200 rent i would be paying the cashout should have been 27,200.Instead Demarco gave me a cashout of 22,500.
The rent for one year is 34,000 Demarco gave me a cashout on my property of 20,000 there was a profit made of about 130,000.
The unfortunate predicament that is present now is that verbal promises were made by Eric Hovkin a manager at Demarco even regarding the gross stipulations in the lease . I was foolish & vulnerable enough to beleive him.
I have received phone calls from individuals stating that my signature was forged ;I have faxed Demarco stating this .I still have not received a pre stamped envelope with a customer satisfaction survey enclosed.
In closing i would like Demarco to think about what they have done.
An individual in foreclosure is willing to sell their home &get a cashout from the proceeds of the sale.
The rent agreed is 2300 a month for one year with a cashout of approximately 25,000.{cashout is based on homes equity}
The amount owed on the home is 200,000 & the home was appraised for 355,000.
The cashout is 22,500 with a rent of 2900 & the home gets sold back for 319,000. the reason for the escalation in rent is because the taxes in the city of union city have gone up & the city never made me aware of this.I really would like to know how this is helping me?????
The sad thing about this is that I believed Eric,although the rent was high I figured as long as i was getting back the additional cash it would be worth it to save my home.
It did not work that way all I have gained is paying 2900 to rent a house that had a mortgage for 2,052;along with the rent is a lease that states you cannot get sick,or lose your job.The rent must be paid no matter what.
Demarco I thought you helped me,but i am actually paying you 2900 a
month for the house i sold you.The cashout you gave me is going right back to you & THE RENT YOU ARE CHARGING ME FOR 1 YEAR IS 12,000
more than the cashout you gave me.
THANK YOU SO MUCH*****