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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Business Law
Satisfied Customers: 19125
Experience:  B.A.; M.B.A.; J.D.
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I paid a Finance consultant a lot of money to secure a $500,000

Customer Question

I paid a Finance consultant a lot of money to secure a $500,000 hard money loan. They approved me the money .Gave me the terms and told me I would recieve the money within in 14 days. 6 weeks later I have not recieved anything but empty promises. The contract I signed with them is vague at best but I have them on numerous recorded phone conversation specifying the terms of the deal and telling me I will get my money. Do I have a case against them if they are scamming me. I live in the state of New York
Submitted: 7 years ago.
Category: Business Law
Expert:  Phillips Esq. replied 7 years ago.

Have you signed your property over to them?

Customer: replied 7 years ago.
no that is not part of the deal
Expert:  Phillips Esq. replied 7 years ago.


Thanks for your quick response.



If you have not given up anything in order to secure the $500,000.00 loan, it is my opinion that you do not have any recourse against the hard money lender. You should just walk away and count yourself as being lucky that you were not taken in by these people. It is obvious that they cannot fulfill their promise to you since it has long passed the 14-day deadline.


I do not see any merits to the district attorney getting involved since you did not lose any money for the deal, you have not signed off your property in exchange for the loan.


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