- Report: #1528280
Complaint Review: Do Hard Money (Investors Edge) - West Jordan Utah
Reported By:
Anonymous -
Newark, Delaware, United States
Submitted:
Updated:
-
Author Not Confirmed
Why?
Do Hard Money (Investors Edge)
8846 S Redwood Rd #C212 West Jordan, 84088 Utah, United States
Web:
https://www.investorsedgesoftware.com/login
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Do Hard Money (Investors Edge) Investors Edge DHM (Investors Edge) Mortgage Fraud; Keep Fees without funding your deal West Jordan Utah
DHM Scam #1 - Bait and Switch - DHM markets their lending product and promises to lend on a deal you bring to them (they tout 100% financing for purchase plus rehab) - They will make you sign an agreement and pay ~$3,500 to engage them for lending (that fee is required to get the funding for your deal) - After you pay, they give you the runaround and excuses as to why they can't lend on your deal. - People have brought them deal after deal and they find a way to not lend to them. - DHM then refuses to refund you the ~$3,500 paid for lending DHM Scam #2 - Poaching - DHM has taken deals from investors that come to them for funding. - After evaluating properties, they provide terrible appraisals (from appraisers of their choice, and you pay $400-600 for the appraisal) - Sometimes they broker the property and capture the equity/fees - Sometimes they move to acquire the property themselves. Victims of Scam #1 I have come across dozens of victims of the bait and switch scam. I am one of those victims. I was told by many DHM employees that my property qualified and they could lend on it. Therefore, I signed a purchase agreement and paid a downpayment for the property, paid ~$3,500 in fees to DHM for lending, and paid $400 for the appraisal. The appraiser made large mistakes on the property appraisal and afterwards DHM finally said they cannot/will not lend on the property due to 'nonconformity'. They refused to refund my ~$3,500. I had to scramble to try and salvage the deal with the seller and pay more fees to another lender to lend for the property purchase. Victims of Scam #2 After researching DHM and their predatory practices, I came across two gentlemen that were defrauded in 2014. They are still fighting for justice. Their case is worse than mine. They brought a property to DHM after DHM said they could lend on it. They paid the fees and did everything DHM requested. Finally DHM said they won't lend on it and they moved to take the property from the investors. They can give all the details if/when needed. In the end, they committed fraud to try and acquire the property from the investors. This caused one of those gentlemen to be forced to file bankruptcy and the stress gave him a heart attack. The other gentleman's wife divorced him due to the financial hardships they faced by the debacle with the property and DHM.
1 Updates & Rebuttals
The
Newark,Delaware,
United States
Do Hard Money Industries (Investors Edge) Investors Edge DHM Mortgage Fraud; Keep Fees without funding your deal West Jordan Utah
#2Author of original report
Thu, August 24, 2023
- DHM Scam #1 - Bait and Switch - DHM markets their lending product and promises to lend on a deal you bring to them (they tout 100% financing for purchase plus rehab) - They will make you sign an agreement and pay ~$3,500 to engage them for lending (that fee is required to get the funding for your deal) - After you pay, they give you the runaround and excuses as to why they can't lend on your deal. - People have brought them deal after deal and they find a way to not lend to them. - DHM then refuses to refund you the ~$3,500 paid for lending
- DHM Scam #2 - Poaching - DHM has taken deals from investors that come to them for funding. - After evaluating properties, they provide terrible appraisals (from appraisers of their choice, and you pay $400-600 for the appraisal) - Sometimes they broker the property and capture the equity/fees - Sometimes they move to acquire the property themselves.
- Victims of Scam #1 I have come across dozens of victims of the bait and switch scam. I am one of those victims. I was told by many DHM employees that my property qualified and they could lend on it. Therefore, I signed a purchase agreement and paid a downpayment for the property, paid ~$3,500 in fees to DHM for lending, and paid $400 for the appraisal. The appraiser made large mistakes on the property appraisal and afterwards DHM finally said they cannot/will not lend on the property due to 'nonconformity'. They refused to refund my ~$3,500. I had to scramble to try and salvage the deal with the seller and pay more fees to another lender to lend for the property purchase.
- Victims of Scam #2 After researching DHM and their predatory practices, I came across two gentlemen that were defrauded in 2014. They are still fighting for justice. Their case is worse than mine. They brought a property to DHM after DHM said they could lend on it. They paid the fees and did everything DHM requested. Finally DHM said they won't lend on it and they moved to take the property from the investors. They can give all the details if/when needed. In the end, they committed fraud to try and take the property from the investors. This caused one of those gentlemen to be forced to file bankruptcy and the stress gave him a heart attack. The other gentleman's wife divorced him due to the financial hardships they faced by the debacle with the property and DHM Industries.
