- Report: #1519855
Complaint Review: Fix and Flip Loan - Spokane Washington
Reported By:
Anonymous -
Phoenix, Arizona, United States
Submitted:
Updated:
-
Author Confirmed
Why?
Fix and Flip Loan
100 North Howard St., Suite R Spokane, 99201 Washington, United States
Phone:
4153561111
Web:
www.fixandfliploan.net
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Fix and Flip Loan LLC requested $20,000 deposit for $2MM LOC. Did not provide product and does not refund borrower's deposit. Spokane Washington
Company advertises many loan products for investors. In June, 2022, we contacted them to provide LOC for customer. They responded our client is qualified for the LOC and needed 1% deposit to secure the $1MM line and the deposit funds are credited at Closing.
Informed there is LOC increase in 90 days after performance but told client to send another 1% for immeidate increase to $2MM. This was done without my knowledge as I stressed to client to drawdown on the $1mm LOC before sending any more deposits to them. He sent them another $10K and the product has not materialized.
We requested an immediate refund since you cannot deliver on your promise. This company has responded with all types of lan information but the LOC is non-existent. Borrower is taking legal steps to get his money back.
The company (www.fixandfliploan.net) continues to advertise as if it's a legitimate organization providing a valuable service to the community. But this is wrong and all of these platforms should be terminated immediately. Wire Fraud, I believe is federal crime. Correct me if I'm mistaken here.
