Investors Finance Inc. -HOMR Program review: Scam 173

Ms. Molinari this is Mike Monaco - I am back from NY and have requested for your file to be placed with Andrea Fisher head of operations to determine how to resolve your concerns. HOWEVER we have never received your file. Also our legal department indicated to me that we do not have USMAC Law Group approved to do business with IFI. Please send me an email with a phone number that I may be able to contact you directly. My email: mmonaco@InvestorsFinance.net

Again this is Mike Monaco CEO and President of Investors Finance, Inc. I encourage anyone to contact me directly with any question or concerns at [protected] or email me directly at mmonaco@InvestorsFinance.net

Investors Finance, Inc. Stock Symbol IFVI
For Information please contact the Security and Exchange Commission:
www.secinfo.com
http://www.secinfo.com/d1J13.zc.htm

I have inside information from an employee that Mike Monaco has been in trouble with the law many times. His nickname by many people is "Con Man" From that inside source, Mike Monaco has thousands of loans, but NOT ONE CLOSED! Who ever deals with him should contact the FBI and your local law enforcement agency. If he took your money, report him right away so you can get your money back. He's laughing all the way to the bank, you fools. Don't fall for " I've had terminal cancer, but I'm a Christian now...I just want to help you folks out...the man is a CON MAN.

Thru my source, nine people who have reported him recently. .. hopefully he will have a nice knock on his nice mansion door soon.

What is the law firm? Ever heard of Hedding Law Group? Or American Law Firm? Ever heard of Peter Girgis or Andres Gaitan?

Have you ever heard of Mortgage Restructure? Or Guaranteed Principal Reduction?

I put a client into this program and I am worried about it.

I finally talked to someone from USMAC, I do not expect to hear from them everyday when they have nothing new to tell me, but I did have some important information for them that might change the status of our case. It would have been better if they had responded earlier, but they didn't and that could be costly. I don't think it is blowing smoke about it being a scam on the internet if there are legitiment concerns. We were enrolled with IFI from the beginning of the programs inception, it is now June and we have only just received the affirmation papers. The terms have been changed a lot from what we were originally told and signed on for, I am not blaming anyone for that as they have to do what they need to to make it possible for the investors to get a return on their money. Mr. Monaco has still not called us and we suspect he never will, even though it is posted here that you can feel free to call. I still don't know if this is a scam or not, I would like to think it is all above board and that they are able to help desperate homeowners, but we think it is not going to work out for us, there are still no guarantees that IFI will be able to aquire our house, maybe it was a good idea that was harder to manage than they imagined.

I am filmier with IFI and the homer program let me start by saying if you paid 1650.00 then you have just recently been introduced to the IFI program maybe in the last 40 days or so. Is this correct and if so lets compare how long it takes to complete a loan modification to how long IFI has been working on your Principal reduction. My personal experience is over 6 to 11 months at best to complete a loan modification. You have gave IFI 40 + days and are already blowing smoke on the internet about it being a scam if you gave the loan modification company 10 months to do there job than I think you should give IFI some time as well before spreading bad press. What if some one was doing this kind of bad press about you after giving you just a short window of time to complete such a large task?

By the way I lost my home to foreclosure last week and I blame my self
I didn’t pay the mortgage and some time's it's just too late to save it. No I didn’t hire IFI because I couldn’t give them the time they needed to save my home I was told they would need at least 4 months and I didn’t have that much time.

Good luck

Mr. Monaco or any other IFI Rep,

I was trying to look up the stock symbol for your company and have been unable to retrieve it, I was under the impression you were a publicly traded company. Please help me to clarify this matter.

I have been following the Guardian Group as I am a victim of their scam and stumbled upon this complaint as their name popped up when I searched for it. I suggest you do what one of the above postings says and work with the bank directly. If you check out this complaint board you will see that the string of postings are very similar to what we experienced when we were scammed by the Guardian Group. First it started out as a complaint. Then people from the Guardian Group got onto the message board and started to defend their company and posting positive comments about working with the Guardian Group. Just look at the past Guardian Group posts and you will see that they are very similar to the ones above. I am sorry folks, if it seems to good to be true. Then it probably is. My suggestion if you think you are being scammed. Then you should consider filing complaints with the proper authorities. Probably the department of Real Estate for California, the attorney general, the district attorney or any other federal agency. I would not wait. The longer you wait, the more people get scammed and the longer it will take this company to be shut down. But until someone turns these con artists into the authorities. They will continue to take people's money. They are preying on desperate people who are in a bad place. I am a victim of the Guardian Group and I waited too long to complain to the proper authorities. Look at last posting which refers to USMAC. They are all over this complaint board and it looks like the attorney involved is in trouble. If this company Investors Finance was real, then why would they associate themselves with a company like USMAC. I also tried to pull up Investors Finance as a stock and can't seem to find them. This should be another warning sign. They claim to be a publicly traded company. The Guardian Group said they were backed by a Billion Dollar Hedge Fund which was not true. Also these companies are trying to buy your mortgages for pennies on the dollar supposedly from the bank. Then why do they need your up front fees? I know you want to believe it people. But wake up. This is most likely another scam.

I would love to talk with Mr. Monaco, but I was told he is in New York and I have left messages for him to call. I would like to think they are legit, I got paperwork today and the amount of the loan and new mortgage is way higher than we were originally told. My gripe is with USMAC, the lady that originally told me about the HOMR program is now MIA, I was told she was on vacation and would be back on May 15th. Of course that was a lie. Now I am calling there and no one picks up or replies. When I called Investors finance I was told that they don't talk directly with the homeowner and that I should contact USMAC. When I got angry and said that was what I was trying to do, the lady said she would have someone call me back. That didn't happen either. We pay money and then are not told anything that is going on, our lives are on the line and they ignore us, that is not CUSTOMER CARE. If Investors finance is indeed legit, I suggest they disconnect themselves from USMAC right away.

I have heard great things about IFI and look to move forward with them. I have done quite a bit of research and they are definately legit. They are very real and you sound a bit mis informed. i would call Mike Monaco to clarify in regards to the program.

I would suggest that you Contact Mike Monaco to properly educate you on the program. This transaction is done through a different department and not the negotiating department. Which is why when you contact the Banks servicing dept they are not familiar with IFI. Also, IFI has never promised or commited to stop the forclosure that is something that the homeowner needs to take care of and usually the Lawyer handles that. If you have paid more than what IFI's fees are and were mislead to think they were IFI and not attorney fee's, please contact IFI and provide the name and number of the Firm. There are many people out there in need of this program and it is a great one, please don't scare people into thinking this is a scam. It is NOT.

Thanks for posting this. I thought all along that this maybe to good to be true but wasn't sure. I checked out that company you mentioned the Guardian Group and it seems like the same story that Investors Finance sold us on. I am pretty much in the same boat as you but I am not about to lose my house. I worked with a law firm who was suppose to get me a loan modification and they didn't. So I signed up with IFI as it seemed like a good thing if they could make it happen. The only difference is that I only paid $795 or $800, I would have to check my statements for the exact amount. It seems that you paid over 2 times the amount I did. Sorry that you paid more if in fact this is a scam. I haven't actually dealt with or spoken to anyone over at Investor Finance. I have been working with the law firm directly who turned me onto them and they assured me since I signed up about 4 months ago that my file is in process and close to closing. I am really upset at the law firm more then anything as they recommended this company. I paid a lot more for my loan modification and nothing happened. I did receive paperwork from IFI called an Affirmation or something like that. They put down a value I felt was a little high but close to the current value. But their interest rate was 8.75 which I feel is really high. Since I am not happy with the law firm. I went to a different law firm and the attorney I spoke with assured me that the affirmation was not binding so it was probably ok to sign. But I decided against it and didn't sign it and send it back to Investor Finance.. My current attorney warned me to not pay any further upfront fees in the future and to proceed with caution with IFI and my loan mod law firm. So I waited a couple of weeks hoping that this Affirmation document was going to happen. It has now been almost 3 months since I received the affirmation. I have heard nothing from IFI and I have not contacted them. either. But I did contact my bank who holds my mortgage and they said they had no records of selling or restructuring my mortgage with IFI. But they asked for a copy of the Aff irmation document and they have been more willing to work with me now. Since then I have been working with the bank directly and not bothering with my loan mod law firm. I guess it is true. If you want something done right. You need to do it yourself. As I don't think the law firm or IFI have done anything with my account at all as the bank had nothing in their records. I am close to coming to agreement with the bank that I would be very happy to get. The bank rate is a closer to 2%-5% and they are considering a principal reduction as well. My negotaitor at the bank has been very helpful and is willing to work with me! It seems that the banks are finally listening and willing to work things out. I am employeed and can afford my house which is why IFI supposedly was working with me. They made it seemed like I qualified for their program. Now I think they just wanted my money. But I was willing to pay $800 to find out. But I am also willing to walk away from my house as I am underwater and it is not worth what I have against it. I will assure you one thing though. Once I close this new loan with my existing bank. I will go back to this law firm and IFI and ask them for my money back. Because it seems like neither of them have done anything to get my principal reduced or my loan modified or restructured. I will continue to keep paying attention to this until the bank finally does something. Good luck to you. After reading your post., my suggestion would be to speak to a lawyer and get some further advice as I did. And also take the Affirmation that IFI and show the bank what they are offering and see what they can do! But I wouldn't count on anyone but yourself to get thing done.

This is Mike Monaco CEO and President of Investors Finance, Inc. I encourage you or anyone to contact me directly with any question or concerns you may have at [protected]. This posting seems highly suspect.