Freestand Financial Holding Corp. (Jay Frost) rip-off! Their incompetence lost $2500 escrow money + $300 fees. Seller asked for extra $10,000 after appraisal. Phoenix Arizona
My wife and I are trying to buy land in Queen Creek. We had a deal with Jay Frost. We agreed to pay $95000 and he accepted $2500 check for escrow. We now shop for a loan for the $92,500. This is a large sum of money for us and the seller assured us that he would refund our money if something would ever go wrong.
We select "Freestand financial holding corporation." Anyway, they took forever. They said the bank they did business with went through a re-org and lost our paperwork. They refiled the paperwork at another bank. We get approved again. Freestand financil did not pay the appraiser, so I send him $300 to get him out there.
May 6th at 4:00 the appraiser calls and tells me he is finished. May 6th at 5:00 an associate of Mr. Frost calls and says that we have to complete the deal by tomorrow or he wants an extra $10,000. I call my lender and this is impossible.
Now, Frost keeps our $2500 and the land. The bank is incompetent and we want our money, our time and our dream of building on our land back.
Frank
chandler, Arizona
U.S.A.
1 Updates & Rebuttals
Frank
chandler,Arizona,
U.S.A.
Jay Frost is a good guy - mistake
#2Author of original report
Thu, June 17, 2004
I am trying to correct this report.
Mr Frost is a good guy. He even refunded our money before he knew about this complaint eventhough he didn't have too.
Like I said the loan took too long and the land appreciated. He is even willing to talk about selling it to us at the old price. He was talking about this before he knew about this complaint.
The president of Freestand financial is okay too. He is talking about making amends to us. He said he will reimburse us our $300 fee.