Complaint Review: Realty Funding Partners - Internet Nationwide

I am so confused with all this crazy talk about RFP and residential lending.  As far as I have been told the company disassociated themselves from the fund in question here, Bella Homes.  I have closed several commercial deals with RFP and have never worked with anyone better.  Since they do not handle residential lending products, I am not sure where the issue comes in with Bella Homes, but they no longer work with that fund.  Period, done, end of story.

If you want to get good rates and terms for commercial projects, I highly recommend this company.  I have already said this on other posts I have seen and don't mind repeating it.

No idea what the MLM comment is about.  I just know they close my loans and I have never worked with anyone better.

OK - so if you haven't heard yet - Bella Homes has been shut down by the US Attorney's office and the Colorado Attorney General's office this past week for "scamming" people out of money.

I'd like to make it VERY clear that I was not the original poster on this thread and have not publicly "bashed" RFP as an organization other than stating facts (that they are re-selling a scam run by Bella Homes and that they are running an organization claiming not to be an MLM but when it all boils down to it - they are very much like one).

There were many within the RFP management who previously loudly trumpeted how marvelous their organization was because THEY were placing more folks facing foreclosure into the Bella Homes program than even Bella Homes was (see post above by Robert Valentin which was similarly stated by RFP management on many "company calls").

I'll admit to feeling a bit of the "I told you so" feeling regarding Bella's shuttering when I was notified by one of Bella's ex-clients of their triumphant success at helping shut down Bella by their testimony.  Also admittedly I knee-jerked and wrote a rather unkind note to two of my ex-"supervisors" within RFP stating that they should be "ashamed" for all of the vulnerable folks they helped take advantage of.  (Especially after being warned that Bella Homes was simply and plainly a SCAM several months ago).  One of the two ex-supervisors sent me a kind note stating that he had separated from RFP two months ago (good for him) - the other RFP Director climbed down my throat in SUPPORT of the "good" work that RFP does.  Here is one of the quotes I received:

"I have not run across a more self righteous person who assumes to know more about our company than we do.  We are a large corporation with good people doing good things. Bella Homes was not a part of our corporation and we did not develop or run their products or services."

My reply was simply:  "Oh my God.  Really?"

Although it may be true that RFP is doing lots of other good things....I'll leave it up to you from here...would you put your support into a company who: 1). actively ignores warnings that a product they are voraciously reselling (i.e. and being paid "commissions") is a SCAM and not only supports the product but claims to be the biggest re-seller of the product after being warned and then 2).  when called upon their careless behavior of reselling a questionable product (and earning "commissions") quickly and simply says, in so many words,  =our company didn't create nor run the product all we did was resell it=.....

For those of you who continue to give support to this sort of organization for any of the "good" work they do....good luck and best wishes to you...

Oh My...
I'm not sure how to go about responding to your post without sounding disrespectful - but here's my attempt:
The Tenants Act is regarding the Leasor / Tenant relationship.  It says that before a Lease is signed between the Leasor and the Tenant that there can be no prior relationship.  So let's go through the Bella model:
1).  Owner of said property DEEDS the property over to Bella (this forms a RELATIONSHIP - i.e. two parties have agreed to a title transfer to a property)
2).  THEN a Lease is signed.  The 2009 Tenants Act is written EXACTLY for these circumstances where something other than a lease has transpired between the two parties PRIOR to the Lease.  The time frame can be 1 minute for all the Act cares.  This is simply, plainly, NOT a Bonafide Tenancy per the 2009 Tenants Act.  Period.

The mention about Bank of America and their consideration for a Lease Back Program is SO far off from the Bella Model - that it really is like saying:  "Well look at Wells Fargo - they offer checking accounts"....meaning Bella and BofA have 100% differing Lease Back models.  Bank of America would be leasing the property back to the ex-owner of the property after foreclosure.  Bank of America (and/or their investors) would OWN the property AND the loan to the property COMBINED.  There is no issue with trying to BUY the note (like for Bella) - or sue to GET ownership of the note (like for Bella).  Bank of America would have an automatic decision making right to lease their recently foreclosed property to the ex-owner as 1).  They own the note and 2). they own the property = full control of the property and automatic rights to lease to whom ever they wish with NO concern of another party coming in and foreclosing or messing with the contractual lease signed.   Bella on the other hand is leasing to the ex-owner simply and only while they attempt to get control of the note....however....I use the word "attempt" with emphasis.....

Sorry guys but the information concerning the applicability of the tenants rights act of 2009 is off point.  The Bella use of this act more than meets the requirement of "arms length" contract and negotiation. There is no "prior relationship" between Bella and their clients before closing.

The question that should be asked is if the Bella program is so illegal then why are organizations like Bank of America (whom Bella has faced in court several times successfully) attempting to copy Bella's  program using the tenants rights act ?

If anyone has a "prior relationship" it would certainly be BOA leasing the homes back to the hundreds of thousands of people there were initially going to foreclose against!!!!!

Hi "Uncharted" (and to all that agree with this post) -
I know what it feels like to be told what you believe is flat out wrong - it is unsettling to say the least.   Just so you know, I (and many others) AGREE with you on the massive banking fraud/mess that has occurred that seems to be the focus of your post above.  But as the old saying goes: "two wrongs do not make a right". 

Because I was uniquely where you are for a few weeks and simply regurgitated what RFP fed me - I'm going to ask that you put aside what RFP has told you for a day and spend some focused time  and actually personally research some of the claims you posted above (do not ask RFP "directors" or any other Bella/RFP reps as that will get you no where).  You don't have to search for too long because it all falls apart when only a few of your claims above don't work.

I'll be generous and start you off here:
Have you personally READ the 2009 Tenants Act??  I have.  And the 2009 Tenants Act that Bella/RFP purports will keep the new tenant protected from Foreclosure (and eviction) is flat out WRONG.

For the 2009 Tenants Act to apply there must be a "Bona Fide Lease or Tenancy".  "Bona Fide" is further defined within the Act and states that the Lease or Tenancy (among other things) MUST BE ARMS LENGTH.  Call any non-affiliated lawyer and you will find that a recipient of a deed (now the new "owner" of the subject property who in this case is Bella Homes, LLC) who is now also the Lessor DOES NOT MEET THE ARMS LENGTH REQUIREMENT.  There can be NO prior relationship between the Lessor and Lessee for the Lease to be considered ARMS LENGTH. Thus the 2009 Tenants Act DOES NOT apply to the Bella/RFP program.  Period. Done.  The bank can and WILL foreclose at any time.  (Believe me when I say I have corresponded with an ex-Bella client - and by no means did Bella invoke the 2009 Tenants Act .... because it simply doesn't apply.  Yes - that ex-client is facing foreclosure as we speak....And who benefited most from that "lease agreement"?  Of course...Bella did.  They did nothing but receive $10,000 in ill gotten lease payments and the ex client is now scrambling to save their home from foreclosure when they really believed they would be buying their home back in 3-5 years with equity no less!!!!!).

There are several other points you make that are similarly able to be broken down and thrown out if you are willing to step aside from the spurious sales tactics of RFP/Bella.

My man - PLEASE for the sake of yourself and your prospective clients - go check out this link (or any other link that you can find on your own) to the actual 2009 Tenants Act and you will see that what we are trying to tell you is true.......Bella/RFP's "savior program" is based on lies and is flat out fraud.....Do you not get that putting folks who have been victims of the banking fraud/mess into ANOTHER fraud/mess puts you in the same category as those who helped perpetrate (and profit from) the banking fraud/mess???  Based upon what you wrote - I can't imagine that you would want to do that...but unfortunately the truth is.....you are.

http://www.nlihc.org/doc/701-704-Public-Law-111-22.pdf

The above commentary is well written and contains some very good points. As my very good friend the late great Fred Gwynn once said "That is a lucid, intelligent, well thought-out objection....Overruled!"

While the banks and MERS did all what you say, there's no disagreement there.

Please answer the question....

Please let me know how a company buys a house for resale back to the owner in several years...
*without knowing what the Fair Market Value will be
*and credit you back 60% of your lease payments

It's a very fair question based on math, not speculation.

ie..  my mortgage balance is $300,000. Current Fair Market  Value is $150,000.

Your "investors" (I love that saying that) make a deal and buy the note for say...$100,000. Okay?

Three years goes by and lets say the new Fair Market Value is $105,000. The homeowner wants to exercise his right to by the house back. 

How can you give back partial lease payments and give equity back; When That Is An Unknown!

Who says where the market is going to be?

It's a simple question.....

OR...you can just collect the lease payments and not do anything with the bank.

Let's call a spade a spade. Also, neither RFP or Bella has a single deal back to the owner

Clearly, we are in uncharted waters in this economy.  Clearly, the banks have committed so much fraud behind the scenes.  Clearly, uncharted waters brings new ideas to solve new problems.  Clearly, the general public does not understand all the inside legal ramifications of what's going on with bank fraud, quiet title, Occupy Wall Street, etc...Scammers are always abound.

We are in uncharted waters because many millions of people have lost their jobs, their homes and their dignity...they feel embarrassed.  And, many more millions are upside down in their homes where they owe more than their home is worth.  THESE FAMILIES who are upside down, CAN'T STAY in their homes because they cannot stomach paying and overpaying when the value is not there, they are either over or under qualified for the pretend loan mods, and it take the banks sometimes over a year to decide that after they are told to stop payments for 90 days to begin a default and screw up their credit.  So, with foreclosure around the corner, many just walk away from their homes.  They also CAN'T SELL because the buyer would not bring enough $ to the table to payoff their debt, and a short sale (paying the bank less than what's owed) can bring the dreaded 1099 or deficiency judgement where they still legally owe $ (the difference).

The banks have committed so much fraud it's unfathomable.  In order for the banks to make big $$$ by quickly selling pools of Promissory Notes to other companies, they created the Mortgage Electronic Registration System.  MERS destroyed many millions of original mortgage docs that tied homeowners' promissory notes to the properties as liens.  During foreclosure process, the courts required original docs (note and mortgage), so the banks proceeded to replicate the originals, illegally fabricating docs, using high tech signature forging and illegal robo-signers.  It was a big business; on May 13, 2011 "CBS 60 Minutes" covered the story.  In addition, most promissory notes were securitized, placed in multiple portfolios and insured.  So, when a large percentage of notes in one portfolio defaults, the portfolio defaults, and AIG or another insurance company paid 100% of the portfolio in full.  This means that: 1. Some notes were paid in the portfolio that were not in default, and 2. YOUR NOTE, YOUR HOMEOWNER DEBT, WAS PROBABLY PAID IN FULL THRU MULITPLE PORTFOLIOS.  Documented proof can be found thru a Bloomberg Data Securitization Report.  All 50 Attorney Generals, and the Federal Housing Finance Agency are currently sueing the banks.  You can too, by obtaining your promissory note's secritization report which is 100% proof, and then filing a quiet title lawsuit with an attorney.  It is happening in all 50 states.

With HUGE, uncharted problems comes new solutions.  Smart Sale Leasebacks are only possible because of the BANK FRAUD, and Quiet Title is the "Ace in the Pocket" for every deal.  The investor requires the deed from the homeowner, to become the homeowner and provide standing to negotiate the note with the bank.  The bank is willing to negotiate to clear their books of bad debts, and free up cash reserves for future lending...plus they know we hold the ACE.  

In a President Clinton interview, he states: that we need to "accelerate the resolution of the housing mortgage crises", "flussh out the debt", and for people who owe more than their house is worth, offer multi-year "leasebacks".  Bank of America lease backs began on Dec 9th, 2011. 

Using Real Funding Parnters, the original homeowner becomes a tenant with many benefits:

1. Recorded 1st right of refusal to buy the house back.

2. 2009 Tenants Act allows them to stay in the home during the entire lease period...3-7 years.

3. Temporary Restraining Order stops bank from further derogatories against their credit.

4. Real Funding Partners requires the bank to not produce a 1099 or deficiency judgment.

5. RFP also requests that the bank reports "paid in full" to all 3 credit bureaus...credit improves. 

6. The rent is roughly half of the original mortgage payment...monthly cash flow improves.

7. 60% of this rent goes towards the buy back. 

8. Buyback is at 90% of the future market value as determined by 2 appraisers. 

9. 90% sale, less 60% rent towards purchase equals apprx. 80% ltv, 20% equity, and no pmi.

10. They are not required to buy back.

11. RFP expects to offer optional financing.

Regarding RFP vs. Bella Homes: RFP is currently using Bella Homes as one of their many investors/programs.  RFP works with many other investors/programs offering Commercial Loans, Consumer Finance, Merchant Cash Advances, and more...growing with real commissions, and overrides from people you directly signup...1 level deep.  Personally, I have not heard of any pressure to be on a conference call.  And, personally, I would like to see some posts from happy and unhappy clients.  Finally, the Bella Cease and Desist is from the Georgia Dept. of Banking and Finance...it seems that homeowners, negotiating their own notes, would not be regulated by this department.  Are they stopping BAC from doing leasebacks in GA as well?

In summary, the banks committed massive amounts of fraud, and it's time for the public to fight back. FTC's recommendations are outdated.  The two best current methods are:

1. Quiet Title: Duke it out in court.  The courts make many wrong decisions, so it is a risk.  It can be very stressful, and last quite awhile without knowing the outcome.  You can possibly get your house free and clear, or lose, or somewhere inbetween.

2. Smart Sale Leaseback: Virtually guarantees you to stay in your home with a lease, protected by the 2009 tenants' act, and eliminates stress immediately.  Pay low rent for 3 years or more, and buy it back with 20% equity.  This is a very SMART solution for families who qualify, and are upside down on their home.  This is what President Clinton advises. 

When people don't completely understand, they believe it may be a scam.  There are many scammers demanding money upfront, and selling bogus Bloomberg Securitization Reports for Quiet Title.  However, Quiet Title and Leasebacks are successfully occuring across the U.S...they are not false hopes!  For more information on Quiet Title, Bank Fraud, and Sale Leasebacks visit EICHomes.com.

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I most certainly would like to applaud the previous poster:  clwrob.

I am incredulous at how many people are willing to turn a blind eye to extremely obvious facts about Bella and RFP in order to either:  1).  make a short term bit of money (resellers) or 2). theoretically stay in their home for a few months longer while paying Bella their "lease" payment with the false hopes of getting to keep their home (desperate homeowners).

What clwrob points out is exactly what is on the FTC website about "Sale Leaseback" programs...this is for all to go see for themselves.  But shockingly, and I believe the worst of them, are the resellers who do not take the time to thoroughly research what they are taking money for.

There is much, MUCH more information that I have found since I decided to RUN away from RFP/Bella (before referring any clients THANK GOODNESS).  I have found an ex-client of Bella's who has shared with me exactly what I presumed to be true....that Bella did essentially nothing while taking his "lease" payments.  Now he's desperately trying to save his home from foreclosure by working with the lender he should have been working with from day 1.

The warning is there if one looks BEYOND all of the reseller and company spam on the internet.  PLEASE use your common sense and see that what clwrob presented above is all accurate.

I think the poster said it best by writing:
"Just how many red flags and 'common sense' does one need?
If you are an affiliate and getting 'commissions' either you don't know any better <and I'll add and don't want to know any better>, or you don't mind ripping people off."

AMEN!!

I've looked into Bella Homes and Realty Funding Partners. I'm also a mortgage professional. While it's a great idea, Bella or RFP hasn't closed anything back to it's original owner (as with other companies trying to do the same). Here's what the FTC has to say.....

If youre looking for foreclosure prevention help, avoid any business that:
* instructs you not to contact your lender
* encourages you to lease your home so you can buy it back over time
* recommends that you make your mortgage payments directly to it, rather than your lender
* urges you to transfer your property deed or title to it

Please let me know how a company buys a house for resale back to the owner in several years...
*without knowing what the Fair Market Value will be
*and credit you back 60% of your lease payments

 Bella and RFP does all of these things.

Just how many red flags and 'common sense' does one need?

 If you are an affiliate and getting 'commissions' either you don't know any better, or you don't mind ripping people off.

I used to be a consultant for Realty Funding Partners.  I understand much of what the first poster stated and I also see the points of the person who rebutted.  One of the many things I did not like about RFP was that within the many weekly calls they either alluded to or flat out stated that RFP is "NOT an MLM"....when in fact they are a re-seller of an MLM (Bella Homes).   HMMMM?  Why be cagey like that?

I guess what bothers me most is that one can go look for themselves and see that Bella Homes, LLC has a cease and desist order in Georgia for marketing mortgages without a license.  (This is public record so I'm not making anything up here).  Does anyone out there REALLY believe that billion dollar hedge funds would continue funding their millions of dollars with a company who has a cease and desist order on them?????

I certainly don't.  So - to both posters - RFP is as good as Bella is, (and in some ways worse as the original poster pointed out) and I frankly believe Bella is NOT on the up and up.  Trying to find UNBIASED information on the web from folks that are NOT resellers for either RFP or Bella is ridiculously difficult.  Frankly there isn't ONE post from ONE happy customer anywhere that I could find regarding the sale/leaseback program, EVEN from those who are currently "leasing".  Why is that??? HMMMM? 

There is a link posted by a James Bigelow who states that simply because he found 4 lawsuits filed against big banks in the county where Bella is located in (Georgia) that that "PROVES" that Bella is legit.  What is interesting is if you actually FOLLOW some of the filed Bella lawsuits most are DISMISSED by the courts.  Also - what is actually filed in some of the lawsuits that I looked at are boiler plate suits that are not specific to the client.  Responses from the courts were not very positive at all for that reason.  Again, where are the happy CUSTOMER posts for the sale/leaseback program???????

This has got to be the most bogus stories I have ever read! First of all who is the publisher? My name is Robert Valentin and I am a branch manger with RFP. Yes we use Bella's platform for several reasons, but the fact is Bella only offers 1 product, RFP offers 4 and soon many more. No one bullies anyone and we don't hire anyone with a pulse, at least not on my team. We want entrepreneurial types who are willing to work the business and work hard. I am the one who does the calls and training calls and have never conducted a call at 11:30 at night, total BS. This person is obviously someone who didn't make money with RFP and is now looking to blame someone for his/her own failures! Or you are affiliated with Bella and are looking to recruit my bad mouthing RFP. RFP has conducted well over 100 + deals in our first 45 days of introducing this product, and will surpass Bella 24 month production in a matter of months. Finally, no one ever said RFP was around for 18 years, your claims are totally untrue. Get your facts straight!