Investors Finance Inc. -HOMR Program review: Scam 173

People are losing their home due to situations that are either beyond their control or they got into a loan they could never afford in the first place. Whether it be the homeowner, loan officer or lender it doesn’t really matter at this point if you’re facing foreclosure. Homeowners need to look at what to do next... “I was put into a loan i could never afford because it is an adjustable rate and it sounded good at first but now that the interest rate is adjusting and I can’t afford it". Well look at your options let it go through foreclosure, file bankruptcy, short sale, give it back to the bank (deed in lieu), sell it (if you have enough equity), and if you are trying to salvage what you have then try doing a modification but keep in mind lenders are difficult to work with at times. The modification process can take months to complete and you are never guaranteed it will be accepted, and if it is accepted it is possible the payment will still be too high to afford! It is possible to do a modification yourself but the success rate for modifications is very low for multiple reasons. Statistics show that approx. 4 million people are in need of a modification but less than 200, 000 homeowners have not received one. Now last but not least you can TRY another option through IFI that is not 100% sound yet because like most endeavors it takes a while to get it going due to unforeseen obstacles that always arise in business. If you do not trust anyone then simply don’t go with options that require any money to be invested it’s that simple! You have other options. Now the IFI Business plan is a great plan and if Mike Monaco (CEO of IFI) is proven to be a person to trust or at least TRY, then I believe it’s something to move forward with and we as homeowners should educate ourselves on the process that goes into this program so we can come up with ideas and solutions together instead of fighting or blaming... we are all adults with the same goal to save the place we call home. Now Mike is man enough to talk back and address these complaints so let’s use that to our advantage and see what it’s going to take to save our homes. Like I said the plan is great and the pieces are in place judging by the research that I have done... so let’s see what it’s going to take on our end to get things going. And if IFI cannot handle the volume or cannot execute the objectives then maybe they are not the company for us! But I don’t see anyone else out their investing their time or money and not to mention reputation. And like I said earlier if you are one of the people who thinks this is all a scam or bullcrap then don’t do it! But we don’t want or need the negative attitude! Mike can you answer me a few questions please? I understand business takes money to operate. But is there a way for homeowners to join this program with minimal to no investment upfront? I understand you need a minimum of $10 million buy for bank owned loans and only 20% of loans out there are bank owned, I understand that takes a lot of time in itself to determine just that. But if there was a way to offer enough (10mil) bank owned loans already bundled together would anyone (homeowner) have to come out of pocket besides closing cost? I understand there are guidelines that the homeowner would have to fall into like DTI and no Fannie, Freddie, VA or FHA etc. but if all that is done before hand I don’t see why the homeowner would have to come out of pocket any money upfront other than your team confirming the information. My name is Caleb and I would like to discuss some ideas and questions with you that may help address a lot of these issues. I noticed your phone number above I will try calling you to discuss this along with other concerns that may speed the process up further in detail.

I heard from Mike a week ago, he told me that all the things that are being said are not true and that he wishes he never came out of retirement. I spoke to my lawyer and he said it is very possible that IFI ran into some obstacles that they did not expect, and that the intentions were indeed on the right track. I have asked Mike to show his good intentions by at least contacting people and letting them know what is going on. we should not be expected to pay money and then never hear another word. I also felt as though he was more worried about what is being written about him than actually taking care of his clients. I would prefer to think that this is going to be a successful program, it might help some people, but it is too late for me. I have lost my home and the one hope I had left was the HOMR program that I paid for and now that is obviously a bust too.

What happen to the 66 million dollar package you submitted to the lenders in April, per their press release.Alot of yack, and no shack. Say something Mike Monaco!

I certainly understand what IFI is trying to do and have to applaud them for being creative with trying to buy and restructure mortgages for homeowners who want to retain their property. The issue I have is the up front fee they charge to homeowners. In CA, the state recently passed SB 94 which prohibits a up front fee for any loan modifications or similar loan workouts. You can still do loan mods but not even an attorney can charge a fee until after the loan mod is completed. I know IFI is technically not doing a loan mod but I question whether the procedure and fee will pass SB 94 scrutiny. Also, I'm not sure why IFI would charge a fee to a homeowner to buy their mortgage note. Maybe they have a good reason I don't know about. I certainly can see a DA somewhere looking into this.

We do a similar practice of buying mortgage notes from lenders but we target properties that the owner no longer wants to keep. There are no fees at all. Our intention is to become the mortgage note holder and then acquire the property through a deed in lieu of foreclosure. In some cases, we actually pay the homeowner to move out and leave the house in good condition. In exchange for the deed in lieu, we waive any future potential deficiency judgment and there will be no foreclosure on the owners record. We can do this because we are the bank!

Just remember that you need to understand what IFI or any other company is going to do for you. There are no guarantees no matter how much money you give someone. You can certainly contact your bank directly but this does not mean you will get the best result. The bank is going to look out for themselves and not for you.

HELLO, the man has posted his contact on several occasions. I personally am one of the success stories. They were able to get my principal reduced about 4 weeks ago.

the contract CLEARLY states the do NOT stop foreclosure and the reason the "Banks" haven''t heard of IFI is because they are the "master servicer" the banks make money off of consumers each month to service the loan. IFI negotiates DIRECTLY with the trustee of the notes. These negotiations take place without the banks blessing. as a matter of face the banks are doing all they can to block these principal reductions. 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. the IFI fee is $1, 650 for the first mortgage and $595 for the second. ALL fees are refunded (100%) during closing of the new loan. the damn program is basically FREE people. if you don't believe contact them directly and have them send you the agreement. and for the record you ###s who started this get a life and get your damn facts straight before you start rumors. by the way you can be sued for slander. by law this site has to provide your IP address . [censored]

good for you Connie, I am glad you were helped, you are the first person I have heard of that actually got help. IFI supposedly did contact my lender and not the servicer, however that was in March. I think the problems have arisen because of lack of contact, and I was never told about money being refunded at the close of the loan. I was working with USMAC who never returned phone calls, please don't call people ### holes when they are just trying to find out if anything has been done for them when they have paid money. All we wanted was answers and we weren't getting them. People are being scammed all the time, it is not unusual, therefore people are highly suspicious when things don't seem to look right.Saying people should get a life when theirs is falling apart is also not cool, want to walk a mile in their shoes ?

Again this is Mike Monaco President of Investors Finance, Inc. my email is mmonaco@investorsfinance.net for anyone that has questions or concerns.

For the fee they collect ($795 and up grade to $1650) and tough guideline on DTI (Debt to income) ratio and unwillingness to accept investment properties show only IFI intention was good. The obvious fee in my opinion is for operational cost.

If assume IFI has 500 files by now, you need streamline software/CRM, the staff to issue out affirmation letters, comb the files for the above guideline to "pretend" you have a strict guideline and also not to include the overhead expense in the office rent and paying out advance fee of $500 to the agent that brings the deal in. Gross income for IFI is $1100 per file ($1650 $500= $1150.

With the cost of operation cuts his net operating income cut by 50%, Mike Monaco makes out $550+ per files. Not bad for putting such a creative way to "Pretend" to help homeowners but if you are con man why play so small? I would go all the way... If I am in that shoe, I would charge $4500 to $6000 to stay market competitive with what other outfits is charging and be more lenient on the guideline and interest rate so you get the volume. This will get Mike at lease $2500 to $3000 a pop. He is not a smart business man in my opinion if he con artist.

I think he should stick to running a hedge fund or asset manager for IFI public company. He makes more money that way. That is just my opinion folks. There so much more deals out there doing short sale and REO.

Mike,
Any time you charge a fee, you are putting yourself in a tough spot whether your intention is good or not. It's like you owe them something even if you your business model intention is good. A atty once told me, it not your intention that gets you in trouble, it the people around you or marketing your program that gets you in trouble. You can not control unqualified/incompetent agent and distressed homeowner. These two don't mix.

Only way to solve your problem. Offer for free. Whether you succeed in this and provide testimony or not, there will be people who will point the figure at you because there will be people that will end up losing their home while in your program because it your ratio of success is only 33% due to lenders final approval to sell the note to you, MIke. Long run, you are ruining your name and your family company name that was built for over 40 yrs., regardless with our with testimonies. Is this worth your time Mike?

I hope and my prayer goes out to your business and your health. I know your intention was good. Sorry to hear this mess and you can not blame them. It a different animal when it comes to keeping the American dream. You will have blood on your hand when you charge a fee.

Homeowners and potential leads:
Consider short sale to avoid foreclosure (Work with the bank). Sometime it's better to start over. There is revelation in "decrease to increase". If you dont want to work with companies like IFI.

Existing IFI clients, "READ THE FINE PRINT ON WHAT IFI CAN AND CAN NOT DO" and make common sense decision. IT is not their job to stop or postpone TS.

A little on IFI MODEL:
IFI purchase non-performing notes in pool at discounted price. They are in business to make money on the spread of the buy and what they sell to the final end buyer of these notes. First they purchase it, then IFI restructure the note with a rider of principal reduction and bring the note/homeowner from non-performing to "re-performing status so they can repackage and sell to the secondary market such as HSBC or Capital One. IFI act as a bridge loan/bank technically but the spread is nice. It is a win-win. Homeowner get principal reduction. The banks get their non-performing "Toxic asset/headache of their books. IFI get the spread selling it off to the secondary market.

Trust me, there are more of these hedge fund companies using this concept now, some are working and some are not such as Guardian Group. Great concept as long you get the lender to sell the notes at a price that you can resell it. From the standpoint of why the high 8.75% rate and strict guideline is to satisfy the HSBC and Capital One guideline. IFI is not in business to service these notes long term with only 2B fund fund. You need this 2B to cycle in rotation for the next batch. This is business 101 folks.

Sorry for the long post but though I speak my mind and try to be neutral overall.

Prinipal Reduction? It's all ###! I tried those idiots IFI! They have a new office in Ontario Ca and they are going after the hispanic market. Dont beleieve the hype. They scammed me but luckily I found a small company called NuWay Financial (their online at www.nuwayfinancial.com). They helped me save my home and lowered my payments. They know exactly what my bank wanted to allow me to modify my house. I referred my brother to them and they got him a settlement on his 2nd. He owed 125000 and he ended up paying only 20K to settle it. God Bless these folks. They really went out of there way to help me w/o charging me an arm and a leg. Dont get taken like I did with a b.s. principal reduction.

Good Luck,
Marlene

Wendy Alvarez has NEVER been an employee of Mike Monaco's or Investors Finance, Inc. She ran the Executive suites where Investors Finance had a few offices before. (they have now moved) as part of her job in the suites; she would assist different companies with administrative work. Mr. Monaco asked her to make a few calls for him and she did so. WENDY ALVAREZ HAS NOT NOW NOR EVER BEEN AN EMPLOYEE WITH INVESTORS FINANCE, INC.

Buyer Beware... IFI and their "HOMR Program" is an “unproven” concept and one which is, at this point in time, HIGHLY SUSPECT. The primary focus should be on IFI's success to date… there you will find the answers. There is no record of success other than a single “note purchase” posted on their website

Mike Monaco claims to be accessible but how many clients have actually been successful in getting a direct response (actual voice) to their personal inquiries and concerns? I’ve read through the chain of comments. One concern should be the “tone” of the comment made by Connie in Las Vegas… the one satisfied client. Seems to be more of a Marketing Promotion that a testimony… and poorly written at that. Also, getting full credit at closing is meaningless if there are no closings.

Note: Negotiating with the Trustee of a note requires access to the trustee… not easily accomplished and a known roadblock in IFI’s business model.

As a “wholesale operation” IFI has created a comfortable barrier between the client and IFI. It appears IFI has shifted the load of dealing with any and all dissatisfied clients to the retail representatives…a great model.

Here are the questions that need to be asked and answered:

1. Does the business model work?
2. Can you track the progress of the ongoing negotiations with the institutions?
3. How many of the existing clients have had their 1st notes successfully purchased?
4. How many existing clients have had their 2nd notes successfully negotiated?
5. What institutions are participating with IFI where success can be demonstrated?
6. Why has IFI not focused on the institutions they claim to have a relationship with?
7. In other words… WHERE ARE ALL THE PRINCIPAL REDUCTIONS?

IFI is supposed to be providing a service that performs with some level of success… not experimenting with an idea that may work. Especially in consideration of their target market… “Distressed Homeowners”. They are not individuals with extra cash lying around to “give it a shot”… they are as defined… DISTRESSED.

One last question:

9. Who is the Investor in Investors Finance, Inc.?

Answer:
The Distressed Homeowner is the actual “investor” putting up their personal money… in the form of fees charged.

Problem:
In a traditional business model “investors” usually get a piece of the business they’ve invested in. CLIENT FEES should not be in place to develop a business concept and determine its viability.

Recommendation:

Since Mike Monacosays to do so... I encourage any and all individuals, who have paid out their hard earned money to Investors Finance, Inc. (IFI) call Mike Monaco directly. The retail business partners are unable to provide any information about the status of HOMR note negotiations.

The corporate numbers are

[protected]-[protected]

Taking the chance on IFI. It is a new business model, but there are others popping up. 2 I know of here in Las Vegas (THE Foreclosure capital of America). I've looked into ALL the options and their costs and credit ramifications. I have a $311, 000 interest only loan that's about to convert to a monster payment, and my house is worth $150, 000. I have to do something now or walk away. Sad but true.
I believe the concept can work even though it is very new. If it works:
We stay in our home.
We reduce the principal to the current market value. So we save approx $160, 000 on the principal.
The interest rate on the new loan is a bit high but we can refi with a new company. (After some credit repair)
By selling the debt our current mortgage company gets rid of a "bad" loan and files with the government and gets up to 90% of their loss back from the FDIC and writes off the rest.
Our current mortgage company saves the time, Money(estimates in LV about $75, 000), and effort it would take to foreclose.
IFI makes a good profit by buying our note at less than market and sells it back to us at market value. $150, 000 note bought at maybe $110, 000 nets IFI $40, 000

It sounds like it can work. We'll see.
I will check back often to let you know how we are doing.

Remove the emotion from your decision and ask the questions I recommend in my previous post... You are hearing what you want to hear and as a result are falling victim to those who choose to prey your desperation.

You may want to save the following link

http://ag.state.nv.us/newsroom/press/2010/Sinclair%20Sentencing.pdf

The Nevada State Attorney General contact information may prove to be useful... Good luck!

After some more investigating it seems as though IFI was or is doing business with an escrow company but after talking to someone at the escrow company we found out that they have opened files but they were never funded and IFI has not closed any loans through that escrow company. Files are opened but nothing happens.
We're gonna hold off.

I applaud your common scense and wish you the best.

Note: The post by Connie in LAs Vegas... IFI's assumed "single successful note purchase" attempts to place fear into those who want to post on this topic and potential scam by declaring the IP adddress of those that post has to be given out... NOT TRUE! The followling is is the "Complaint Board Privacy Policy"

Protecting Your Privacy
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The Coach!

Thanks coach, your input is great and much appreciated.

Another type of scam from Investors Finance. Investors Finance is contacting people who are working with legitimate mortgage companies and pretending to be affiliated with that company in order to obtain information. Leaving messgages like

"You need to talk to me before your mortgage can be finalized"

Do not talk to these people. Complaints have been made to the CT department of banking. Stay away from this company they are the lowest of lows in the mortgage industry.

After a little investigation I discovered that Investors Finance, Inc. operates on a wholesale level and has their business agents (the retail market) bring in the clients (distressed homeowners). Investors Finance, Inc. is paid directly by the homeowner so... Investors Finance, Inc. is the compamy that should be pursued.

The best thing to do... 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

Anyone who feels they have been victimized by Investors Finance, Inc. needs to take the time to contact both the California State Attorney General and Michael Turco. DO IT NOW!

Thanks Coach with your info... IFI has hired 4 new staffs just to make phone calls out to paid clients reaffirming them on having their escrow money ready to close shortly. This is a strategy to calm the clients/retail chain/public down to buy more time. Consider no results for over 90 days for some of these clients. They are demanding answers. Pretty smart move but Mike show some results or refund the clients, period.

I just got one of those calls. Thanks for the info.

Heads up...

I just spoke with Danielle Cervantes... a Journalist at the San Diego Union Tribune.

She is a on the "Watchdog" team of the newspaper and investigates companies that are under suspicion of fraud.

Complaints should be called in immediately her # is [protected]

Mike Monaco needs to be held accountable for the fees collected by Investors Finance, Inc. If he is legitimate he should be able to stand up to investigation.

DO NOT WAIT TO CALL…

the only program offer u a principal reduction its a short sale, the D.R.E of california said becarful with those company who tell u they can do a principal reduction or they can do a modification in ur home for 2% for 30 years fix.the government approved these programs HAFA, HAMP, HOME AFFORDABLE, most banks had their owen modification programs here is some REPAYMENTS PLANS, FORBERANCE, INHOUSE MODIFICATIONS, INVESTORS MODIFICATIONS BASED ON HAMP.AND MORE...
If u had a question u can contac me at juan@rgrealestate.us

Thank u i hope everything its fine

we did get approved for the HAMP program, but with no reduction in principal and the house way under water, the deal was not going to work. The payment was still going to be high on a loan that would still be way more than the house is worth.Thanks for your input though.

yes heather the think is most people wants a modification but they dont see the amount in they home, some peolpe can affor a payment with a modification cuz still too high or the type of the loan.
thats why people now wants to sale they home in a short sale.
with the program (HAFA)with this program u can sale ur house for less than u owe and when u home its in escrow u recive up $3000 dollars and u credit only affects for 2 years.but at this time u can buy a house

We are doing the short sale, we realize it is the best choice. we were hoping Investors finance would be able to do something, they are our last hope.

Superior Court of California - County of San Diego: Online Services: Case Search for Michael S. Monaco... Principal @ Investors Finance, Inc.

This man has a history of Fraud!

http://www.sdcourt.ca.gov/portal/page?_pageid=55, 1056871&_dad=portal&_schema=PORTAL

Case Number Party Name Matches Opposing Party Case Location Case Type Date Filed
Last Name requested: MONACO First Name requested: MICHAEL Search Result Page: 1

IC783806 MONACO, MICHAEL FIRST FUTURE CREDIT UNION San Diego Civil 02/26/2002
IC752950 MONACO, MICHAEL SOLOMON GRINDLE SILVERMAN & SPINELLA San Diego Civil 08/11/2000
GIC880181 MONACO, MICHAEL COLDWELL BANKER RESIDENTIAL BROKERAGE COMPANY San Diego Civil 02/14/2007
GIC852397 MONACO, MICHAEL KING, JEANETTE B San Diego Civil 08/15/2005
GIC814508 MONACO, MICHAEL HASTINGS, DEANNA San Diego Civil 07/17/2003
GIC799555 MONACO, MICHAEL OVERTON, CHARLES San Diego Civil 11/06/2002
GIC772672 MONACO, MICHAEL GE CAPITAL COLONIAL PACIFIC LEASING San Diego Civil 08/16/2001
GIC738292 MONACO, MICHAEL SALAS, CONSUELA M San Diego Civil 11/05/1999
684500 MONACO, MICHAEL JOSEPHSON, JACQUELINE C San Diego Civil 01/11/1995
37-2010-[protected]-CU-OR-CTL MONACO, MICHAEL US BANK NA San Diego Civil 08/16/2010
37-2010-[protected]-CL-UD-CTL MONACO, MICHAEL DOUGLAS, CLIFFORD San Diego Civil 06/14/2010
37-2009-[protected]-CU-OR-CTL MONACO, MICHAEL SANTALUZ MAINTENANCE ASSOCIATION San Diego Civil 11/23/2009
37-2009-[protected]-CL-BC-CTL MONACO, MICHAEL FAIRBANKS VILLAGE PLAZA CO San Diego Civil 08/31/2009
37-2009-[protected]-CL-BC-CTL MONACO, MICHAEL FAIRBANKS VILLAGE PLAZA CO San Diego Civil 08/31/2009
37-2009-[protected]-CU-BC-CTL MONACO, MICHAEL THEME FAMILY LIMITED PARTNERSHIP San Diego Civil 07/24/2009
37-2009-[protected]-CU-FR-CTL MONACO, MICHAEL MONACO, MICHAEL S San Diego Civil 02/20/2009
37-2008-[protected]-CU-BC-CTL MONACO, MICHAEL VAZQUEZ-ELIAS, ERNESTO San Diego Civil 11/18/2008
650031 MONACO, MICHAEL ANTHONY MOSES, ROGER San Diego Civil 03/25/1992
L596298 MONACO, MICHAEL R CITIBANK SOUTH DAKOTA, N A San Diego Civil 10/15/1997
IC783806 MONACO, MICHAEL S FIRST FUTURE CREDIT UNION San Diego Civil 02/26/2002
IC783806 MONACO, MICHAEL S FIRST FUTURE CREDIT UNION San Diego Civil 02/26/2002
IC783138 MONACO, MICHAEL S SMITH, J REED San Diego Civil 02/14/2002
IC738487 MONACO, MICHAEL S AMERICAN EXPRESS-TRS COMPANY INC San Diego Civil 11/10/1999
GIC761146 MONACO, MICHAEL S METROPOLITAN MORTGAGE AND SECURITIES CO INC San Diego Civil 01/23/2001
GIC746203 MONACO, MICHAEL S CIVITAS BANK San Diego Civil 04/04/2000
37-2010-[protected]-CU-BC-CTL MONACO, MICHAEL S JOSH PROPERTY ACQUISITION LLC San Diego Civil 07/19/2010
37-2009-[protected]-CU-FR-CTL MONACO, MICHAEL S BAER, DAN W San Diego Civil 02/20/2009
37-2007-[protected]-CU-BC-CTL MONACO, MICHAEL S BAYVIEW FINANCIAL LP San Diego Civil 12/04/2007
IC752950 MONACO, MICHAEL STEVEN SOLOMON GRINDLE SILVERMAN & SPINELLA San Diego Civil 08/11/2000
GIC738292 MONACO, MICHAEL STEVEN SALAS, CONSUELA M San Diego Civil 11/05/1999
37-2008-[protected]-CU-BC-CTL MONACO, MICHAEL STEVEN MOLINAROLO, BRUNO San Diego Civil 10/23/2008

This is incredible. How is it possible that he is still doing business ?

Because the scam is new and there have not been enough complaints made to the proper authorities

Complaint Resources:

1. California State Attorney Genera; http://www.ag.ca.gov/consumers/general.php

2. Danielle Cervantes... a Journalist at the San Diego Union Tribune.
"Watchdog" team of the newspaper and investigates companies that are under suspicion of fraud. [protected]

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

DO IT NOW!

I am not passing judgement on IVF or Mike Monaco, I don't know. But there is a principle reduction program available that works, and there are No Up-Front Fee's. Let say that again, No Up-Front Fee's. If anyone is interested in more details, please contact me at: fipy1234@yahoo.com.

Once again, No Up-Front Fee's peroid.

I wonder if the Investors Finance here in Encinitas is the same as in Ontario, Ca... I contacted a company called Investors Finance in Ontario Ca @[protected] & [protected] that sounds very similar to the above described company after hearing a presentation they had on a Spanish radio station. When I said I was in San Diego the woman said that they didnt have offices in San Diego that I would have to drive up to Ontario. I just called her today and havent given her any info but decided that I would do a little research on the company. I did a yellow pages search and could not locate the company in Ontario only the one here in Encinitas. I also searched for them in the BBB website and could not find them. Maybe its not such an intensive research on my side but it was enough to discourage me from calling back or driving up there.

Read what I wrote before... Investors Finance, Inc (IFI) does not deal with the public directly so the company advertising directly to the public is more likely than not a Business agent advertising under the IFI name...

They should be reproted as well!

Complaint Resources:

1. California State Attorney Genera; http://www.ag.ca.gov/consumers/general.php

2. Danielle Cervantes... a Journalist at the San Diego Union Tribune.
"Watchdog" team of the newspaper and investigates companies that are under suspicion of fraud. [protected]

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

Just made a call and yes the company Investors Finance in Onterio is the same company as the one in San Diego.

Just another business agent pushng the same program...buyer beware.

Also make sure to report any complaints to the California Department of Real Estate Mike Monaco is a licensed Realestate Broker

http://www.dre.ca.gov/cons_complaint.html

and the Better Business Bureau

http://www.bbb.org/us/Consumer-Complaints/

Coach- what are your credentials, seeing you have all the answers to something you think is a scam?

Both common and business sense... this isn't rocket science!

You seem to have missed one of my original postings... take the time to read th following and it may open your eye to reality.

Here are the questions that need to be asked and answered:

1. Does the business model work?
2. Can you track the progress of the ongoing negotiations with the institutions?
3. How many of the existing clients have had their 1st notes successfully purchased?
4. How many existing clients have had their 2nd notes successfully negotiated?
5. What institutions are participating with IFI where success can be demonstrated?
6. Why has IFI not focused on the institutions they claim to have a relationship with?
7. In other words… WHERE ARE ALL THE PRINCIPAL REDUCTIONS?

IFI is supposed to be providing a service that performs with some level of success… not experimenting with an idea that may work. Especially in consideration of their target market… “Distressed Homeowners”. They are not individuals with extra cash lying around to “give it a shot”… they are as defined… DISTRESSED.

One last question:

9. Who is the Investor in Investors Finance, Inc.?

Answer:
The Distressed Homeowner is the actual “investor” putting up their personal money… in the form of fees charged.

Problem:
In a traditional business model “investors” usually get a piece of the business they’ve invested in. CLIENT FEES should not be in place to develop a business concept and determine its viability.

Yawn--Coach I agree that there might not be any hard evidence of IVF closings as of yet. This is a new program that the lenders are starting to cozy up to. However you have no hard evidence that it is a scam either.

I think you have it right to tell people to be careful and cautious, BUT you have no right or excuse to tell people to call the DA and file complaints and bad mouth this company, and spread terrible things about them on "Your Guess" and You Think They Are".

Wth all the trouble that Gaurdian Group has now with the law, I find it hard to believe IVF would attemt to do the same thing, knowing what the implications would be, with the tough laws in California, and the way the Attorny General is cracking down on fraud.

So quit being a know it all and give them a chance to prove themselves or not.

Wake up people. Investors Finance Inc. is marketing themselves as a company that can secure a Principal Reduction on behalf of Homeowners... just like the Guardian Group… they haven’t done one in their eight months of existence. Have you noticed the one they claim to have accomplished is not posted on their website!

Mike Monaco has a history of fraud (check the previous postings). You don’t test a business concept on the backs of distressed homeowners. You prove you can do it with your own money and then offer the solution/service to the public.

Your comment “the lenders are starting to cozy up to the idea” is a joke. What does “cozy up” mean in the business world… please explain.

Would you pay a loan officer an origination fee to see if they can get you a mortgage? Would you pay a real estate agent a commission to see if they can get you a home? No... a service provider gets paid for a successful service rendered.

In addition, Mike Monaco has no proof that he can do what he says he can do so why is he taking peoples money? Investors Finance Inc. is a public company (IVFI) that isn’t trading and Investors Finance Inc. is a company that isn’t performing… just like their stock!

Call the FEDS now!

Hey Flipo,

Why the change of heart? Remember your earlier posting? Just in case you forgot... you said ...

"What happen to the 66 million dollar package you submitted to the lenders in April, per their press release. Alot of yack, and no shack. Say something Mike Monaco!"

Monaco never replied... I wonder why?