Complaint Review: Moneytree Funding

Arman, Rich Saputo, Angelo, Xavier and Lelanni (names may be fake) work for Moneytree Funding. They promised me home buyer leads in my area which were pre-approved, fully underwritten, ready to buy with a 5% down payment (also verified), waiting for a call from a local real estate agent.

The first lead was a dead end. No one ever answered the phone at the number provided. The replacement lead had made a casual inquiry about a loan on the web but had no intention to buy and if they were to buy they already had an agent. When I contacted Arman about the fact he misrepresented the leads he put me on hold and never got back on the phone. When I called back he said I would need to contact customer service. Voice mail is the only thing I got and no one returned my call. Lelanni was the name on the voice mail indicating I would receive a prompt return call.

After many more messages and attempts to speak with someone to cancel my contract, I eventually had the receptionist connect me to a live person in customer service Rich Saputo. He listened but said he had no authority to cancel the contract and the charge to my credit card would not be reversed. I was successful in having the charge reversed by my credit card issuer.

I filed a complaint with the BBB and Moneytree never responded to the BBB's request for a rebuttal. If you get taken by these scam artists be sure to fight the charge with your credit card company and report them to th BBB. I also put out an alert to my fellow Realtors to not get duped by these scumbags and asked the California Associations of Realtors Expo coordinators not to allow them a booth at the annual real estate convention.

Brad
Redding, California
U.S.A.