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mccane and pape financial / Fraud/Scam

1 20 Ashburton PlaceBoston, MA, United States Review updated:
Contact information:
Phone: 1-781-498-2745

TOTAL SCAM!!! My husband and I were looking for a loan and were contacted by McCane and Pape Financial. They approved us for $50, 000.00 with a down payment of $1, 700.00 and no mortgage payment for 6mos!! We sent the money Western Union. They received the money and were supose to send us our welcome packet threw FedEx. They called the next day stating that the loan was being held up by the bank because they wanted to secure the loan with insurance and that we needed to send another $1, 700.00! We stated that we didnt have that kind of money. So, they approved us for a $1, 000.00 credit which would be payable once we received our loan money. So, we sent them the $700.00 from the origional number so they would release the loan money to our bank. The money should have been in there the Monday following. Ofcorse it wasnt! So we called them, the number didnt work anymore. We looked up their web address...it no longer exists!!! They took our money (totaling $2, 400.00) and ran!! The money was sent to Canada (that was the bank releasing the money). The names of the people we dealt with were: Erin Harper, John ? (her boss). We are reporting this to the Atterny General. The BBB has them listed as an F rating. Do not do any kind of business with these people. They are very convensing...

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Comments

  • Sl
      23rd of Feb, 2010
    0 Votes

    We were ALMOST drawn into the same scam! We had applied for a 180, 000 loan through multiple sources, and being in a tight situation with bad credit, got refused by most. McCane and Pape contacted us, saying that they could approve the loan but due to the poor credit standing they would need 4 months mortgage payment up front. When we asked how to make the payment, they said the same thing, Western Union. We were put on guard by a required "up front" payment like that, so we asked if we could send a normal check or bank check, or wire transfer ... just to see what other options we had available. They refused everything else, saying it had to be Western Union. We offered to give them a Money Order for the monies, at closing, when they brought the loan paperwork for the mortgage for everyone to go over. Again they refused, saying that their loan originators were not banks, but individual investors and as insurance they wanted the 4 months up front. We started looking into McCane and Pape, and at that point could not find a listing on the BBB. We contacted a friend and a lawyer to look into it and eventually found the F rating you mentioned. At that point we were advised that this was almost definitely a scam, and we pulled out completely, thank goodness!

    They are VERY convincing, and they look for people in bad situations that are desperately in need of a loan. Due to many recent problems, we have to move VERY soon, and they knew that history and played on our need. We lost a lot of valuable time dealing with them, and are in a much worse situation now... but fortunately we saved over $6000 by NOT sending the money.

    I feel awful for anyone that gets caught by these scammers! If you see the name, or anything that sounds like this type of "money up front" loan... don't walk, RUN away.

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