National Loan Investors of Oklahoma City, A Preditory Lending Company *UPDATE *Consumer Suggestion
National Loan Investors of Oklahoma City are financial pirates they specialize in purchasing discounted real estate loans of people who are in finacnce distress. They purchase loan because that way they can get around the licensing required by many states.
Afer they purchase a distresses loan they harass and threaten by adding every possible penalty and fee to jack-up the close out price of the loan. They refuse to accept any payments so that they can force the loan into further distress. In most case they will raise the intrest rates and attach phoney legal fees with continuing threats of foreclosure.
In our case they purchased a mortgage loan from our local bank for .50 on the dollar, the loan when they purchased it was 350,000. in less that two years it was inflated to over 570,000. Even the filing of a chapter 13 did not stop their harassment.
Many attempts by mortgage brokers to negotiate and obtain a reasonable settlement figure has failed. They have refused to release any figures as to their claim, we have paid them over 54,000. in the past twelve months, as of this date they have not acknowledged these payments, or have even sent us a receipt.
2 Updates & Rebuttals
I talked to the Federal Trade commission this week
#30
Sat, January 26, 2002
They filed the following rebuttal to the above Rip-Off Report:
Their name: Joe Conner
Their relationship to the company: Consumer Suggestion
Rebuttal:
I talked to the Federal Trade commission this week, people may contact them by the net. They allow you to file a complaint on line. They monitor the complaints and when more than one complaint is filed they watch for a trend then jump on the company " QUICKER". Lets hope and pray that lots of
the customers of National Loan Investors will contact the federal trade commission. Also contact the U.S> Senators office. If the problem started with a bank , get in touch with the comptroller of currency. Washington d.C. .. We are allowed protection so use it. Or loose it.
Joe conner, Tulsa oklahoma
YOU ARE ABSOLUTELY CORRECT. I am a person who was improperly serviced by Nation's Bank.
#30
Wed, December 26, 2001
They filed the following to the above Rip-Off Report:
Their email: conner@geotec.net
Their name: Joe Conner
Their relationship to the company: Owner
Rebuttal:
YOU ARE ABSOLUTELY CORRECT. I am a person who was improperly serviced by Nation's Bank. I borrowed funds, I even have a FULL RELEASE on the note and mortgage. The bank issued this Full release After accepting a cashier check. Does National Loan investors care? Heck no.
I cannot imagine how they get by with extortation. If you read the code or dictinary on the word " EXTORTION" you will see it is demanding payment when they have no
legal right. I hope that somehow others will realize a class action suit against National might be warranted. As you know they are registered in Deleware corp but operate out of Oklahoma City. I have not been able to locate a connection betwen Bank of America and or officer of the bank.
The great Comptroller of currency says they are not allowed to do anything for " THE BANK SAys they did nOT do anything wrong". wHAT KIND OF A STATEMENT IS THAT? jOE cONNER tULSA oKLAHOMA. a PERSON WHO HAS BEEN FIGHTING nATIONAL FOR TWO YEARS.