Kennedy & Cohen David Gold, Leslie Greenblat Scammed us out of $20,000.00 on a owner finance. We paid 5000 down and made all 1800+ monthly payments and they never paid the bank the house was foreclosed on Allen, Texas
We thought we had purchased a home from Kennedy & Cohen in Mckinney. We gave them $5,000.00 in cash down and made payments monthly in excess of $1,800.00 for eight months. We found out that the house was on the Collin county foreclosure list for sale in September of 09 we moved in Feburary of 09. Kennedy and Cohen had been taking our monthly payments and had not paid any money to the mortgage company holding the note. Further kennedy & cohen had no legal right in the first place to sell us this home as the previous owners note had due upon sale clause in it. We have learned this after the fact. We were told that Kennedy & Cohen was waiting on the banks approval in Feb in order for us to close another untrue. We have had to move out of the house since finding out we were nothing more than paying squatters! If you have any dealings with these people you need to RUN and fast they are just a scam!!!! So far they have gotten away with $ 20,000.00 from us.
2 Updates & Rebuttals
SD
McKinney,Texas,
United States of America
Total lies
#3Author of original report
Wed, June 09, 2010
David Golds couldn't speak the true if he had a mouth full of it. The state DA has the facts of the case. he never made any payments to the bank holding the mortgage. He also ignores the lending rules such as due at sale. I have four other people that can speak to his total disregard for the real estate laws of Texas. All he has to do if answer to the State Da and the IRS and we all see where this goes. The word is thief!
Property1234
United States of AmericaMeeting Your Obligations and Telling the Whole Truth
#3UPDATE Employee
Tue, June 08, 2010
The gentleman that wrote this post is Scott Ditto. He did owner finance a property located in McKinney Texas from Kennedy and Cohen. He decided to no longer to pay his mortgage and meet his financial obligations as he agreed to which caused his loan to default. After a couple weeks, Mr. Ditto decided to move out allowing a different family to move into the property.
Mr Ditto claims the property was going into foreclosure. Why would a company, who spent $10K renovating the property and would profit approximately $30K when the property is refinanced, want the property to be foreclosed upon. The property was not foreclosed and another family lives in the property.
It came to our attention that Mr. Ditto no longer working for his employer and could not afford his mortgage payments. This is why he decided to walk away from his mortgage and financial obligations instead of trying to resolve his situation, and then he blames Kennedy and Cohen for his situation and problems.
Owner finance can be a great opportunity for seller and buyer of a property as long as both parties work together and communicate and issues or situations that might occur.