Complaint Review: TCRM Commercial Corp - New York City New York

You mentioned to Jacob that you were under the impression that that term, bait and switch, is exactly what you did to us....I have no clue what was done to him....but if you are saying you are an honorable company, promise 12% interest in writing, change it to 18% not in writing...the 12% was in writing..take out time, effort, and then at the last minute a few days before closing hit us with another $2500 fee to open a corporation....this was an interest only loan as well...You must be kidding. We signed papers with the original rates and it was always the same lender...Why did the terms change right before closing? What would you call that -- proper business ethics...We wouldn't... If you think that this is depriving people from getting loans they need, let them go elsewhere...we speak only from experience....The ball is in your court..You are in control of whether the reports are filed on a regular baSis, and the list gets longer..or not....Do the right thing, Les.

You say you are an honorable firm...Did you learn from Eunice Bennett what your "honorable firm" did to us? They told us that we would be able to get a loan of approx. $60,000 for 12% interest, and we were so excited about being able to purchase a dream lot on a lake in S.C....Our dreams were dashed after months of phone calls and affirmations that everythign was fine and that the lot was going to be appraised...after we had paid $500 down...and the appraisal fee was quoted as $850 ....ON RAW LAND? We objected, and instantly the rate dropped on the telephone with Eunice, from $850 to $450...The appraiser told us his fee was $250..so there is an outstanding $200 ---where did it go? The the terms all changed....Nothing in writing initially when we signed the papers said anything about the lender owning 90% of the lot and we would get to own 10%....we would have to open a corporation that would cost us an additional $2500 (meanwhile for a $60,000 loan the fees were heading to half the amt. of the loan..ridiculous) interest went from 12% to 18% and on and on....Naturally, we turned it down and asked for our money back since it was not the same loan that we signed for!...TCRM is not an honorable company....and SHAME on YOU...You pulled us along and when it came down to the closing, EVERYTHING CHANGED--all the terms were different and it was not the same loan..we asked for our money back plus the $200 that TCRM kept for the appraisal....So, who is the honorable one...You built our hopes up and then slammed us down..We want $2500 from TCRM for the time involved in getting this loan, the money that you should not have had.....dozens of long distance phone calls, making arrangements with lawyers, appraisers, etc..and until that time, when the check arrives, we will gladly close this case and no longer file complaints...But right now, we have something to complain about and don't want others to get their hopes up and then have their dreams destroyed..Shame on YOU...dO THE RIGHT THING... The Schklairs, Miami, Fl.

You say you are an honorable firm...Did you learn from Eunice Bennett what your "honorable firm" did to us? They told us that we would be able to get a loan of approx. $60,000 for 12% interest, and we were so excited about being able to purchase a dream lot on a lake in S.C....Our dreams were dashed after months of phone calls and affirmations that everythign was fine and that the lot was going to be appraised...after we had paid $500 down...and the appraisal fee was quoted as $850 ....ON RAW LAND? We objected, and instantly the rate dropped on the telephone with Eunice, from $850 to $450...The appraiser told us his fee was $250..so there is an outstanding $200 ---where did it go? The the terms all changed....Nothing in writing initially when we signed the papers said anything about the lender owning 90% of the lot and we would get to own 10%....we would have to open a corporation that would cost us an additional $2500 (meanwhile for a $60,000 loan the fees were heading to half the amt. of the loan..ridiculous) interest went from 12% to 18% and on and on....Naturally, we turned it down and asked for our money back since it was not the same loan that we signed for!...TCRM is not an honorable company....and SHAME on YOU...You pulled us along and when it came down to the closing, EVERYTHING CHANGED--all the terms were different and it was not the same loan..we asked for our money back plus the $200 that TCRM kept for the appraisal....So, who is the honorable one...You built our hopes up and then slammed us down..We want $2500 from TCRM for the time involved in getting this loan, the money that you should not have had.....dozens of long distance phone calls, making arrangements with lawyers, appraisers, etc..and until that time, when the check arrives, we will gladly close this case and no longer file complaints...But right now, we have something to complain about and don't want others to get their hopes up and then have their dreams destroyed..Shame on YOU...dO THE RIGHT THING... The Schklairs, Miami, Fl.

You say you are an honorable firm...Did you learn from Eunice Bennett what your "honorable firm" did to us? They told us that we would be able to get a loan of approx. $60,000 for 12% interest, and we were so excited about being able to purchase a dream lot on a lake in S.C....Our dreams were dashed after months of phone calls and affirmations that everythign was fine and that the lot was going to be appraised...after we had paid $500 down...and the appraisal fee was quoted as $850 ....ON RAW LAND? We objected, and instantly the rate dropped on the telephone with Eunice, from $850 to $450...The appraiser told us his fee was $250..so there is an outstanding $200 ---where did it go? The the terms all changed....Nothing in writing initially when we signed the papers said anything about the lender owning 90% of the lot and we would get to own 10%....we would have to open a corporation that would cost us an additional $2500 (meanwhile for a $60,000 loan the fees were heading to half the amt. of the loan..ridiculous) interest went from 12% to 18% and on and on....Naturally, we turned it down and asked for our money back since it was not the same loan that we signed for!...TCRM is not an honorable company....and SHAME on YOU...You pulled us along and when it came down to the closing, EVERYTHING CHANGED--all the terms were different and it was not the same loan..we asked for our money back plus the $200 that TCRM kept for the appraisal....So, who is the honorable one...You built our hopes up and then slammed us down..We want $2500 from TCRM for the time involved in getting this loan, the money that you should not have had.....dozens of long distance phone calls, making arrangements with lawyers, appraisers, etc..and until that time, when the check arrives, we will gladly close this case and no longer file complaints...But right now, we have something to complain about and don't want others to get their hopes up and then have their dreams destroyed..Shame on YOU...dO THE RIGHT THING... The Schklairs, Miami, Fl.

the way we see it the only rip off is jacob because his remarks "i too was ripped off by tcrm" is the first line people see when they go on google and this will deprive those people who need a mortgage from an honorable firm willing to help borrowers with difficult loans to obtain them. jacob alledges that our firm used bait and switch tactics something alien to our firm. i'm under the impression bait and switch means to sign a borrower up and when it comes to the closing switch the rate and terms. based on what he has written neither he or his client ever signed up with our firm. from what i can read they never lost anything because they didn't move forward. he alledges that two loan officers gave him separate quotes.is it possible that given limited facts each reviewed the initial information slightly differently. one tiny factual change in a mortgage request can totally change the character and the rate and term of the loan. who were these loan officers? did jacob receive written quotes? had jacob sent in a full underwriting package with three years of tax returns,both personal and corporate, a 1003 application,a loan registration statement, and a personal financial statement or was he just running a scenario by us with limited paperwork. the point i'm getting at is that jacob's allegations are so vague that one does not know what really happened. jacob says he was going to give us large commercial loans. instead of immediately reporting us as a rip off firm it might have been smarter if he had a bad experience to ask to speak to tcrm's senior management or get references to check us out. does jacob know that just a few weeks ago we placed and closed a $4,000,000 loan for a queens developer? does he know that we are about to close a $1,300,000 loan for a brooklyn theatre owner? last week we helped an amsterdam, n.y. borrower obtain a $65,000 bridge loan. did jacob take the time to call the pennsylvania retail center owner and find out that two loans later we helped him take a 10 year vacant warehouse to open a 100 unit retail center? did jacob bother to check with the owner of japenese restaurant in nyc that is now in business thanks to the $3,500,000 bridge loan that closed in about 20 days arranged by tcrm? did jacob ask about the alabama mall owner that tcrm closed a $6,500,000 loan for after he looked for over 6 months unsuccessfully for before coming to us? did jacob speak with the discotheque owner who tcrm arranged $3,000,000 loan for? did jacob talk with the borrower with a rite aid as a tenant in louisiana who couldn't obtain money elsewhere yet tcrm successfully put his money together for him with a closed loan? the list goes on...... jacob in a veiled threat alludes to connections he has with new york state officials. the only one he should be reporting is himself for ruining his own opportunity as broker to obtain loans for his clients, make money for himself and help the new york economy. jacob, if you are serious about doing business call us. however, please withdraw your complaint you are hurting the "good guys". we deal only one way which is with honor and integrity. jacob of valley stream- "SHAME ON YOU"