Complaint Review: InHome Financing

I contacted Ron Espinoza about an Apartment mortgage program that he was pitching at a event with Monica Main (Espinoza).  I later found out Monica Main has has Securities Fraud charges filled against her which she pled guilty of at the link below.

Ron was pitching a loan program called "144A Bond Program".  I contacted Ron on the phone about this program and was told that their was some upfront costs for paper work and due-deligence.  I was told by a lawyer friend not to pay any upfront fees, other than fees that were truly needed like appraisal fees.  Ron seemed like a nice person, but was pushy on the needed fees.  The fees wasn't a guarantee on anything, just a pre-approval.

I sent Ron $500 via a money order.  I got a pre-approval from Ron on the apartment deal.  The numbers looked good and based on the numbers we were getting the property $132k below market for the area.  Ron said the move to the next step, I would need to send $2500 for a lender retainer fee.  If the numbers hold up and all the documents look good.  The loan should be completeed in 3 months (been 5 months) of excuses from Ron.

I own my home and was never asked to pay upfront fees to look over documents or get pre-approvals.  If something falls through, their's no guarantee on anything and you lose this money.  I've been sending emails to Ron and left several messages with Ron.  I hear nothing back now.  It was a good thing the property was local to me and had an inspection clause in my contract.  I didn't fully like something on one of the buildings roof.  The seller was willing to due a price adjustment, but I just backed out and got my $15k earnest money back.  I'm still out several thousand from Ron charging upfront fees to look over the deal and do nothing in the end.

I should have know better when he partnered and married Monica Main.  She has had securites charges filled against her by the SEC.

http://www.cftc.gov/ucm/groups/public/@lrenforcementactions/documents/legalpleading/enfmaincomplaint.pdf

Sites and address:

http://inhomefinancing.com/

http://www.monicamain.com/

Ron Espinoza
respinoza@inhomefinancing.com
734-754-0117

Monica Main Global Success Strategies
24900 Anza Dr., Ste. C
Valencia, CA  91355
661-295-5050