Investors Finance Inc. -HOMR Program review: Scam 173

One more thing I have to wonder about Tom, how did you know to come to complaints board to write about your great experience ? I spoke with Mr. Monaco a couple of times when he was trying to placate me, he asked me to stop posting comments. I am thinking therefore that it was HE who asked you to write something nice to try and shut everyone up. That is not going to happen, unless we get some money back, he is still a thief in our eyes.

I have to agree with the coach, I am glad for you that you were helped, but what about the rest of us that were left hanging out to dry ? I signed up with IFI last February, in the meantime I have lost my home and so have many others that were scammed. Mr. Monaco is trying to save himself, and it looks good if he helps clients after the fact. Think yourself very lucky that you came in AFTER the fact. Are you now in fact renting from IFI ? That was the last deal I was offered, if so beware. I was not about to enter into any kind of "trust" that I was supposed to pay monthly without some kind of proof as to where the money was going. If you got a great deal, good for you. I was supposed to sign paperwork that listed my husband and I as tenants with a list of rules that we had to abide by as we would in fact be renting, also the interest rate when we finally became "owners" again was crazy. After all that went down with this company and the way things kept getting changed, we consulted a lawyer who was afraid it was suspect. Mr. Monaco told me I could get some of my money back, considering I never had an appraisal done on the house and that was part of the upfront fee, of course it never happened and calls and emails don't get answered. Those of us that were indeed scammed now feel more cheated than ever, the man admitted on T.V. that he had not had any success and now he has two, amazing. Sine you like him so much, could you put in a good word ask him if he will at least have the decency to give a full refund to those that got no help ?

Tom,
You're wearing blinders and only seem to be concerned with your experience. Did you read the posts, did you see the lawsuits, and do you feel the pain he has caused so many. The man is a con man and often con men fulfill on a few promises to draw in the masses. Ever hear of Bernie Madoff? Some people actually made money... but the majority lost hundreds of millions of dollars!
Promoting this program is irresponsible and only perpetuates the fraud. What about 1500 other clients who had were made false promises, what about this whole scenario are you missing?
I'm actually happy for you as an individual but you are being extremely irresponsible by posting anything that may encourage another poor soul to fall prey to this con!
One more eye opener... 2 successes out of 1500 clients is equivilent to .0013333 % success rate. Do the MATH!

Coach all I can say is that we got our house deal done. I met Monaco at his office the day we closed and he seemed to not blame anyone for all the bad press when we asked him about the channel 10 news and the newspaper. He just said that he was standing up to all the scammers and he has been doing business for more than 25 years. Coach we are very happy with our new payment with IFI and the fact that we saved 300k. It looks like IFI seemed to have goten over all of the problems they were having with the banks becuase we also met another couple from Corona that was in closing their new house deal too with IFI in IFI's lobby and they seemed to more than happy in fact they didn't pay their mortgage for over 2 years because they were upside so bad.

Tom,
If what you are saying is true then cheers to you. But a few things need to be cleared up ... Len Babbitt was not fired from IFI... he quit because of the fraud being committed by Mike Monaco. Mike Monaco accepted payments ranging from $795.00 to $2250.00 from over 1500 clients for the HOMR Program service. Average it out and thats approximatel $2 million dollars. It wasn’t until the Union Tribune and Channel 1o News stories broke that anything was ever completed... i.e. your note purchase. Until all of the other clients receive a refund or satisfactory results with regards to the services they contracted for... all should stay as far away from Mike Monaco as possible.
Consider the following scenario for any other business... if 1500 customers paid for a product at a going rate of $795.00 and only one customer was able to show fulfillment the authorities would be on the business like a fly on *%#+! This man has funded his personal life, country club membership, new cars, personal and family vacations etc. with the monies collected from individuals in desperate need of assistance. He is a criminal who has mastered the "system" all in the name of God! Look at his track record and it speaks for itself. A token "note purchase" does not a good man or a good business make!
His day of reckoning is coming!

I too am a client of IFI HOMR program. IFI just purchased my note and now is the Investor (after 5 months). I felt I needed to at least tell some of you that at least for me and my wife we got our deal done with IFI. The title and escrow closed on December 3rd. our process was that I was originally with City Mortgage which was USFM Law group in Orange County who tried hard to get us a loan modification. They referred our file to IFI. Linda Gimbel I thought did a good job. However at first I was very nervious after finding out that IFI only charge $795 for the appraisal and that City Mortgage took $2, 995. from us. So I had called the VP Frank Maimone of IFI and he assured me that IFI would take good care of my file. Surprivingly IFI appraisaed my house at the lowest pricing for my area and me and my wife when an notorized the IFI affirmation to verify the amount that would be acceptable to us, including the new payment and when I called Frank Maimone he said the IFI gave me a 3 day right to cancell without any addtional charges. We signed and sent it in. Now its been four months of waiting after we signed but once escrow got opened IFI actually bought our note from Wavochia and lowered my monthly payments by over 1k dollars. We did have to bring in the closing costs which we had saved from not paying our payments for the last two years. After reading all these posts, the news paper, and the TV news we almost pulled out but we talked to IFI underwriter and found that one of the people in the newpaper wasn't even a client of IFI and that one other was cancelled becuase he had a law suit against his property. I actully think after having talked with many of their staff at IFI including Monaco that the time it takes to get the loan purchased is longer from the banks than what City Mortgage had given us for closing. " Now I can say something of real IMPORTANCE" that is concerning to me and my wife and should be to everyone; I got a call the day before escrow was closing from Zen Companies Mr. Len Babbitt who was fired from IFI but was once with IFI as a manager (even on a video) that IFI requires a fee for $2, 995 for credit repair and that he was able to send someone named jorge to my house today to pick up the check or escrow would not close. I called Monaco direct which he said that was not true and that IFI did not require nor need us to have our credit repaired to close escrow. So to me that was weird and alarming that an old employee could call me and my wife on our private lines and demand a fee for credit repair. I looked up Len Babbitt on this website and [redacted] and found out that he has a new company in Ontario Ca doing a principal reduction and redit repair under the name of willow brook www.willowbrook.com they charge $2995 for credit repair to enter into their program. BEWARE of LEN BABBITT looks like he took off with his scamm and running it at willow brook BEWARE of WILLOWBROOK. IFI has referred this to their lawyers to stop them. Overall me and my wife have gone though hell in our relationship over this whole mortgage mess. We owed over 700k on our house that was only worth 415k. Would we do it again yes but I think I would have avoided dealing other companies and just go direct to IFI.

I haven't heard of one, I was told that he is going to lose his license, but for previous problems he had and not necessarily with the HOMR program. I don't think we will get our money back, which is really infuriates me.

I have a similar story as most everybody here. Does anybody know if there is a class action suit or similiar that is being pursued?

Exposing fraud appears to be the first step in the process. Now it's up to the San Diego District Attorney and the State Attorney general. So go back through the chain of posts and continue to submitt complaints to both resources and Mike will be shut down. The Department of Real Estate is holding hearing to strip Mike Monaco of his Brokers License but that is just a start!

Pat Savage is nothing more than Mikes sidekick and yes man. You won't get far with him!

Patrick Savage
Sales &Customer Relations
[protected] x190 office
[protected] fax
16870 W Bernardo Dr.#120
San Diego Ca. 92127
psavage@investorsfinance.net
www.InvestorsFinance.net

how is he getting away with this ? there is no justice, I am one of the ones getting ripped off and thought he was going to get shut down. How frustrating.

More Fraud… now Mike Monaco is changing the HOMR program to HOMR Express because he could not do anything he said he could do. BUT instead of refunding home owners who don’t want this new program he is just keeping their money. What a SCAM. Oh and now homeowners do not have to pay up front..hmmmmm I wonder why? SO what happens to the 1, 000’s of home owners that did pay up front and are getting thrown into a completely different program they never wanted or paid for? NOTHING but getting ripped off

THANK YOU COACH FOR YOU GOOD NEWS AND INFO ( MIKE MONACO IS AT FRAUD AND IFI )
THANK YOU ! COACH

Thank you Coach, I did read the on-line article last night and I hope that something gets done now. I also read the comments that people wrote after it and some of them were hateful, what is wrong with them ? I am trying to ignore it as best I can, but it infuriates me that they would go after the victims while ignoring the wrongs of the person at the center of it all. I am very sad that Mike has a wife and children, why didn't he think of them while he was doing these awful things to families. ? Thank you to everyone else here on complaints board.com for your input and suggestions, living here in Nevada made it more difficult to know for sure what was happening. Good luck to everyone to that knows now for sure that IFi will not be doing anything to help you keep your house as you had hoped.

Well... it looks like justice will prevail. I want to applaud everyone who took the time to post and expose the fraud on the part of Mike Monaco and IFI. The following links are to the Newscast that took place last night on CH 10 ABC News San Diego and this morning’s article in the San Diego Union Tribune (front page)!

http://www.10news.com/news/25678458/detail.html
http://www.signonsandiego.com/news/2010/nov/08/homeowners-sought-help-but-didnt-get-it/

"You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time". Abraham Lincoln

The sad part is that Mike has a wife and kids and unfortunately they will have to pay the price of his actions. I wish them well!

http://www.10news.com/news/25678458/detail.html

Heather,

I know you want IFI to be real and to help you, but 1096 is right. Monaco house has been up for Notice of Sale as late as July 2010. If IFI could get a principal reductions, wouldn't he have done his own house by now?

I feel betrayed by them and I am tired of taking this laying down. Go to the California Attorney General's website at http://ag.ca.gov/ and report IFI. Especially Monaco. Do it now.

I agree with 1096-he has taken advantage of people when they are their lowest, let's send him to prison for this fraud. I know for a fact that IFI has changed their program and all the innocent folks who were already in HOMR are now getting a new program without any choice. It will be leasing their own home for $1, 500 a month-what a crock! Talk about stealing?

I do know of other programs that work, but with this type of fraud going on, who wants to believe the real thing?
If anyone wants to see other programs or if anyone hears of any programs that work please contact Cate at WiseAnalysts@yahoo.com or [protected]

Hopefully things are going to be resolved with IFI and Mr. Monaco soon.

OMG--THE TRUTH COMES OUT MIKE MONACO IS IN FORECLOSURE AND TAKING YOUR MONEY TO PAY HIS DEBT!

Didn't want to give his home address but this is a county document that proves The Monaco's just WANT your money to pay their DEBT! Mike hates strives on uneducated people that have a credit line he can steal from!

Mike is such a con man. My "contacts" at Investors Finance just can't believe that you people out there that are NOT listening to this Board and go put money in this CON MAN"S pocket are incredibly stupid!

WAKE UP PEOPLE...REPORT HIM RIGHT AWAY. CALL THE ATTORNEY GENERAL'S OFFICE, THE SAN DIEGO UNION TRIBUNE (Danielle, she's VERY interested) THE REAL ESTATE BOARD, EVERY LEGAL AUTHORITY YOU CAN THINK OFF...PUT HIM IN PRISON WHERE HE BELONGS.

Don't believe his soft story about cancer...you are what you eat and the drugs you take. Yes, Mike we all know about the drugs you took and probably still do. And as for you wife, Wendy...you drag her into the mess with you every single time. YOU DESERVE EVERY POSSIBLE PUNISHMENT..YOU PIECE OF HORSE...

FORECLOSURE-Mike and Wendy Monaco
Seller Name : Wellman Brent A &
Tammy A
Document No : 555357
Document Type: Grant Deed
.!JI.ortgag, , -_Hlst, , -ry: __.. _, ._ ...
Mortgage Date 11/ 412006
Mortgage Am : 51, 000, 000
Mortgage Lend r : Private Individual
Mortgage Typ : Private Party Lender
Borrower : Monaco Michael S
Wendy M
Foreclosure History:
Document Type: Notice Of Trustee's
Sale
Defaclt Date:
Foreclosure Fil, ng Date: 07/27/2010
Record, ng Date: 07/29/2010
Document Number: [protected]
Default Amount :
F, nal Judgement Amount: 51, 756, 966
Ong, nal Doc Date: 04121/2006
Ong, nal Doc Number: [protected]
Wellman Fred S &
Donna
240007
Quit Claim Deed
10/0212006
$178, 000
Private Party Lender
Monaco Michael S
Lis Pendens
11/17/2009
[protected]
[protected]
Donna
Centex Homes
529730
Grant Deed
06/13/2006
$200, 000
Secured Fndg Corp
Conventional
Monaco Michael &
Wendy
Notice Of Trustee's
Sale
11/20/2008
11/25/2008
[protected]
$1, 542, 502
04121/2006
[protected]
Page 2 of2
04121/2006
$1, 481, 250
Empire MIg Co
Conventional
Monaco Michael &
Wendy
_M?re!ii."!, :, !,
Notice Of Default
08121/2008
[protected]
[protected]
[protected]
$34, 757
04121/2006
[protected]

Wow!

IFI is now skirting their responsibilities in paying out commissions to the Business Agents and requiring the B2B to invoice IFI for any commissions owed to them. In their attempt to keep all monies they are taking the focus off of their inability to purchase the note and place focus on the supposed fraud committed by the Business agents who have submitted files to IFI.

http://www.investorsfinance.net/index.php?option=com_content&view=article&id=49&Itemid=55

It appears they still can not purchase the notes as once said and found an interesting way to skirt the issue and spin it into a short sale model.

I would not trust anything they are saying, I have reported them to the states attorney. My friend signed up for something similar, she kept paying and nothing was done to repair her credit, she lost her money. Paying money up front is never a good idea, but they know these are hard times and people are desperate. Once they have got your money, you don't hear from them, no calls back no matter how many messages you leave. I was hearing from the President of IFI for awhile, but now he doesn't respond, the paperwork now comes from a different address in California and I am wondering if it was getting too hot for him to be there anymore. What the coach has written above is the best advise to follow, these people need to be stopped.

I was asked by IFI Ontario to pay $1495 for credit repair. On top of that, they wanted me to pay $1695 + $595 (both first and second) in order for them to start the negotiation process. I've not been feeling right with IFI since the beginning but i was so stupid to pay half of the credit repair amount to get the credit repair started. I was trying the reach the financial advisor David Payne after I paid the money but he never responded. Now that they are asking to pay the full amount so they can start the negotiation process. I've too much doubt and let me know what should I do now?

First try to get back your $1650.00 and another $250. 00 .As per the latest update from their Website they are not charging any upfront fee .
I have reviewed the details on mine and could not find any reference to the value of the property or will be transfered in 2 yrs..
Did you get any written confirmation from your Attorney or IFI on this?

People, you’re signing away your home without legal counsel, what are you thinking?

Call a real estate attorney and you will find out if IFI's practice is legitimate.

Call the Department of Real Estate.

Call the State Attorney Generals office.

IFI is known to take peoples money without providing the promised service. Their HOMR program projections just went up to 12 months. Why? Because they are not capable of performing! What better way to perpetrate fraud than to keep delaying the promised outcome.

Their staff seems to change as often as their underwear and the expertise they claim needs to be investigated as well. They have yet to post any successful note purchases as a result of their HOMR program.

Now they are promoting HOMR Plus and having people sign over their homes and charging a closing cost of $15000.00. WOW!

Read what Heather Molinari posted. She secured the service of a professional and was warned not to participate.

Is anybody out their reading the entire post?

Mike Monaco was a SUB PRIME LENDER and preyed on people in need. The way he spins it in is video is classis CON MAN spin. SUB PRIME LENDERS were in part responsible for the mortgage mortgage market meltdown.

Mike Monaco has just found another avenue to profit off of the backs of homeowners in distress.

To report Mortgage Fraud or Loan Scams:
Federal Bureau of Investigation
Phone: 1-800-CALLFBI [protected])
Online Tips: FBI Tips and Public Leads Form

i also had signed up with the IFI, homr plan, the lawyer office, an american law firm from walnut creek, ca.,
had directed us there .
paid the $1650.00 and another $250. 00
to service the plan.

and was told i will sign the revocable trust, lease agreement
and the intent to buy back the property in 2 years. there is an upfront fee of $ 15, 000. on closing which will be put on escrow.
the monthly payment is not cheap--$2800.00/month and
if defaulted, will be evicted..

there are more strict with the servicer ...
please enlighten me here. i am having the
cold feet .. the money needed is too much ..this is
hard earned money..

please post your comment .. i will appreciate it..

loony

Same situation here too! Received Revocable trust agreement and Initial Lease Agreement ..I forwarded the details to my Attorney who intiated paper work with IFI and they are reviewing them and did ask me not sign any documents..It has been a week and still waiting for a word from Attorney ..
I am going to request my money back first ...

We received the "revocable trust agreement" they wanted us to start paying into it right away even though there were no guarantees they were going to be able to get our house. Our legal advisor said it was bad news and that IFI is opening themselves up for law suits. I have requested our money back but have heard nothing. I will contact the attorney generals office today. Thank you for your help.

Thank you for the info. we will be adding our names to the complaint.

The sales pitch that IFI used to induce brokers to solicit there clients for their service is absolutely ridiculous. Let me give a few reasons why:

1. There is no secondary market. Fannie and Freddie are basically it. If there was a hedge fund or insurance company that would allocate asseture to purchase bad loans do you think IFI is the company they would be dealing with? Of course not.

2. If you WERE purchasing mortgage assets would you purchase sub-prime, default notes (min 60 days per their guidelines), with homeowners underwriting only to a front end DTI? You would have to be incompetent to think that is o.k.

3. As far as I remeber 2/28's were essentially banned in 2007. Nobody was buying them and lenders stopped funding them because wall street did not want them. No matter the level of barbelling these loans you can only hide so much. IFI's initial product was a 2/28 at roughly 8%. Why would wall street or a private investor buy loans from IFI on the very program they were no longer willing to buy just a few years ago WITH a verified defaulting borrower?

4. Lastly, Why take $795.00$1695.00? Here is IFI's financial agreement...IFI would pay it's brokers 3% of the new loan amount at closing for bringing them the client and closing. So on a $400k mortgage the broker would be entitled to $12, 000. Now I am assuming that IFI was receiving at least 3% as well on a closing. Why would risk those types of profits to violate the California Civil Code, Newly enacted legislation (SB 94) and about 9 other state laws when you could get 5 times the amount of files by charging $0.00 upfront? The answer is you wouldn't.

I have to say this. In theory I think this is a great idea. Buy bad notes, give clients new loans based on the actual values of their homes at fixed rates, even if it's at a high rate. The problem is the execution. Misrepresentation, bad business practices and fraud are laced all through this. These are the types of things the boys from Virginia (FBI) come to visit you about at home Mr. Monaco. If IFI was smart they would contact every homeowner they have contracts on refund the money that they were paid and beg Jerry Brown doesn't make an example of them during his campaign.

I just received a letter from the California Attorney Generals office acknowledging the complaints about IFI. I've also come to learn that they require a minimum of 30 complaints against a company to take action.

Get the word out and file those complaints!

Contact the California State Attorney General's office.

The complaint website is http://www.ag.ca.gov/consumers/general.php DO IT NOW!

First Omega Financial is associated or a branch of The company "IFI" using a rust as a scam to get struggling home owners to give them up front $1650 for application fees, $2900 to get an attorney law firm (Nassin and Nassin attorneys), 1st and last month of payments with also 6 months up front for tax and insurance. The company and the poeple working for it, are using a scam promissing that the IFI investor would buy their loan from the bank and later sell it to the customer at the current market value with a 8.75% interest rate. They also try to scare their clients into giving them more money because the IRS would go after them with under the Tax forgiveness act (1099). The name of the scame artist in Ontario, Ca is Andre Vasques who claims to be the President for the Ontario, ca office. Office [protected] or cell [protected] or fax [protected].

Please! Setting aside the he said she said. It is clearly academic, that anytime that you have this much discussion from so many people, there must be something wrong. If it looks like a duck, walks like a duck and sounds like a duck, it’s probably (IFI) Mike Monaco.

THESE ARE FROM http://www.stopfraud.gov/report.html#mortgage

To report Mortgage Fraud or Loan Scams:
Federal Bureau of Investigation
Phone: 1-800-CALLFBI [protected])
Online Tips: FBI Tips and Public Leads Form

To file a complaint with the FBI contact the nearest FBI field office. Locations are listed at www.fbi.gov/contactus.htm or https://tips.fbi.gov/ or for major cases, you can also report information by calling toll-free number 1-800-CALLFBI [protected]).

Housing and Urban Development (HUD) Office of the Inspector General Hotline
Phone: [protected]
Fax: [protected]
Email: hotline@hudoig.gov
Address: HUD OIG Hotline (GFI), 451 7th Street, SW, Washington, DC 20410

PreventLoanScams.org: A project of the Lawyers’ Committee for Civil Rights Under the Law
Website: PreventLoanScams.org
Phone: [protected]-HOPE

PreventLoanScams.org - was launched to serve as a nationwide clearinghouse for loan modification scam information on complaints filed, laws and regulations, and enforcement actions. If you think you’ve been scammed or approached by a company or individual promising to help you with your foreclosure, report it today.

Federal Trade Commission (FTC): Complaint Assistant
Web Site (Spanish): https://www.ftccomplaintassistant.gov/Consumer_HomeES.htm
Phone (for complaints against companies, organizations, or business practices): (877) FTC-HELP
Phone (for complaints about identity theft): (877) ID-THEFT
Email Address (for complaints about spam or phishing): spam@uce.gov
The Federal Trade Commission collects complaints about fraud, companies, business practices, identity theft, and episodes of violence in the media.

Everyone needs to stop the banter and file a complaint. It is the only way. Anyone that posts another comment without reporting IFI to the following agencies is responsible for their losses.

You can lead a horse to water but you can't make them drink it. I have shown you where the water is. The rest is up to you.

Send IFI the requested documents (DO NOT PAY OUT ANY MONEY UNLESS THERE IS AN ACTUAL CLOSING) and then do the following:

Contact the California State Attorney General's office to file a complaint.

The complaint website is http://www.ag.ca.gov/consumers/general.php DO IT NOW!

Also, there is a "Watchdog" at a San Diego television station, KUSI News, Michael Turko. He specializes in exposing fraud. Since Investors Finance, Inc. is located in San Diego it would be a great avenue to pursue.

Michael Turco's contact phone number is [protected] his website is http://www.kusi.com/features/turko

Danielle Cervantes, a Journalist at the San Diego Union Tribune [protected] has a serious interest in the story as well.

CALL the California Department of Real Estate (DRE) and file a complaint. Mike Monaco is a DRE Broker and will have to answer for his actions. The San Diego DRE complaint department number is [protected]

Monaco, Michael Steven DRE Broker License # [protected]

Nothing will change until action is taken

I too received the letter saying they had tried to contact me multiple times. Not true as I am not working, have no car and am here all day. Secondly, when I called the phone number on the letter, I got a voice mail message from someone named Brian. He said if you received a letter from Investors finance they have listed the wrong number and had given his instead. One of the numbers was transposed, more proof that they are sloppy. I have asked for a refund, my bank is not going to wait any longer, I paid my money to IFI in February, now they want me to hurry up and give them more of the same documents I provided way back then, it is way too late and I don't believe they ever did a thing. I will not be able to hold the bank off for 30 more days. I will try one more time to reach IFI. tomorrow and see what they have to say this time.

They are stalling and playing on your emotions. Unfortunately it's these stall tactics that help to keep business like this operational. responses like yours only feed their greed for more.

Reporting a complaint now will only hurt them if they can't stand up to the scrutiny of any of the contacts I've provided. You have not been given anything of substance to prove they are working on your behalf.

It's you’re choice. We, as a collective, have already shut down IFI's advance fee collection practice. Do you think it would have stopped if IFI was providing a legitimate service?

I said it before people WAKE UP. It's no wonder con men flourish in this world. They prey on those who have nowhere to turn and perpetuate false hope to enable the scam.

I received a letter couple of days back that IFI tried to contact me multiple times and will not be able to proceed further until required documents are submitted.I was mad as I sent the documents same day they requested and called them back and after holding for few mins checked and confirmed they do have my documents.
Today I received another letter stating that they received the documents and their team of Investors will be reviewing my file that any of the programs may be applicable to my situation and one of the members will contact me within 30 days to go over the options.
Nothing was mentioned regarding the repayment of the processing fee I paid earlier.
As already waited this long, will wait for another 30 days before taking next course of Action.

Stop trying to make sense out of FRAUD... what is it you don't get?

ONE MORE TIME:

Send IFI the requested documents (NO MONEY UNLESS THERE IS AN ACTUAL CLOSING) and then do the following:

Contact the California State Attorney General's office to file a complaint.

The complaint website is http://www.ag.ca.gov/consumers/general.php DO IT NOW!

Also, there is a "Watchdog" at a San Diego television station, KUSI News, Michael Turko. He specializes in exposing fraud. Since Investors Finance, Inc. is located in San Diego it would be a great avenue to pursue.

Michael Turco's contact phone number is [protected] his website is http://www.kusi.com/features/turko

Danielle Cervantes, a Journalist at the San Diego Union Tribune [protected] has a serious interest in the story as well.

CALL the California Department of Real Estate (DRE) and file a complaint. Mike Monaco is a DRE Broker and will have to answer for his actions. The San Diego DRE complaint department number is [protected]

Monaco, Michael Steven DRE Broker License # [protected]

Nothing will change until action is taken

IFI has recently contacted us stating that they "are nearing the purchase of your [our] mortgage note' and requesting if escrow funds are available. I called our lender today...actually made three different phone calls and all lender personell gave me the same answer...there has been NO ACTIVITY OR COMMUNICATION regarding our loan or the note of our loan being purchased. Now, let's be logical...if IFI is nearing the purchase of our loan, the lender would have documentation and communication regarding the purchase of our note. Another point is that our lender gave us until the end of this month to come current loan. Why would they do this if our note were to be puchased in the near future? WHY DOES IFI WANT THE ESCROW FEES? IFI is a predat0r lender.

Everyone needs to understand this is not a voluntary action on the part of Investors Finance Inc. It is the result of the pressure being placed upon the company to demonstrate performance. I applaud all of you and encourage your pursuit of a refund and or proof of the offers being made, on your behalf, to the lender to purchase your mortgage.

Don’t fall prey to any repayment plans or refund policies that allow Investors Finance Inc. to keep your money. They no longer charge for the service because their previous business practice is under investigation. The change in policy doesn’t eliminate Investors Finance Inc.’s fiduciary (financial) responsibilities to every paying HOMR client.

Anyone who has paid Mike Monaco a fee for the HOMR program is due proof that he and his company performed the service. If you don't get satisfaction report the company to the proper authorities (see my previous postings for all the contact information).

Never settle for anything less than what you deserve.