Complaint Review: Patron Estates LLC

Patron Estates is a hard money front. In this market, it is difficult to distinguish the good money, the bad money, and the companies with no money. Patron will charge a min. of $5,000 per loan that clients are "approved" for. They have used other company names in the past, such as Worldwide Strategic Alliance, Inc. Many crooked companies change names and addresses rapidly to spare themselves a devastating lawsuit. Many hard money lenders have contacts who are private investors or hedge fund investors. When a deal is brought to the table it is reviewed and either approved or denied (usually based on appraised value). However, if erroneous fees are charged up front, it is smart to walk away. What scam artists do is pre-approve clients, then charge them preliminary fees. They will then attempt to find an investor to lend the funds to close, and if they don't the deal is dead and the client has lost his or her deposit. This company is no exception. Beware of all hard money lenders. Due Diligence is necessary always.


Jon
Irvington, New Jersey
U.S.A.