Investors Finance Inc. -HOMR Program review: Scam 173

Hey Coach, I am about to submit my deal to IFI today. They have not been shut down by the Feds, so... I am starting to think that you might be selling something.What is it? What are you selling. Maybe you have a better Idea for me? Why would the feds not have shut these guys down. Why would they have been in business for all this time and be willing to accept my money today if they were a scam. I have read a lot of good feedback about IFI. After reading all this stuff this Monico guy seems to be a stand up guy and is helping people. If a trustee sale happens to my home I cant blame IFI, they are not attempting to stop the Trustee Sale, They are attempting to buy my non-performiong note. Maybe you should loss the tuff guy attitude and do some research on what you are telling people. Seems to me that you are looking to scare people into something that you are selling. Give me your number so I can get your sales pitch directly. I know you have the time...if you can sit around and scare people all day. If you are so sure that IFI is a scam, send me some evidence so that I can sign up on your plan and not IFI.
The reality Coach, I think you are a liar.

I'm not forgetting anything I wrote coach, but have come to the conclusion that this has to take time to get done. Most of the problem is the time factor. It is the lenders that hold things up, not Mike Monaco.

And like I said, the lenders are starting to cozy up to the pooling to loans. why wouldn't they, with another 5 million forclosures comming down the pipe soon.

Let me say I have nothing against mike Monaco or IVF, But i do have a program that will stop the foreclosure precessdead in it's tracks(California only-No upfront fees), and a principle reduction program All 50 states with NO UP-FRONT FEES Period!NONE Zero

Get in touch with me flipy1234@yahoo.com I promise you won't be disappointed!

I am awaiting a verdict on HOMR. I want to believe, but waiting for proof now-either way-con or pro.

Because I am now concerned about another program, I would like to open this discussion so I can get feedback from others. It is a Law Firm in Salt Lake City that is filing a "quiet title action" in Federal Court against banks alleging that between 2002 to 2008 loans were securitized and sold as stocks and bonds. The banks made many times over the original loan amount and they are challenging the right of the lender to get paid from both ends, among other issues. They say they have had 100% success with 22 clients already settled and 350 close to settling. Their settlements thus far have been for below current home values. Due to confidential clauses in the settlement there is only the court filings as proof and people's word until they get any bank to go to court, then it becomes public knowledge. They check to make sure that the client's loan fit the parameters before taking the case.
Does anyone know if this a viable premise for a lawsuit? I appreciate any help. I have a few clients who want me to sign them up for program, but I am committed to not further hurting those already having a hard time.
Thanks for your help.

Desperate people are primary targets for vultures in this market. If I can save one person from the fraud being perpetrated on the American public then it’s been worth my time.

Flipo… go to IFI’s new website and listen carefully to their new EVP claiming…”the favorite part of my job is seeing the faces of the people when we’re able to save their home”.

QUESTION: How many files has IFI collected fees on and how many successful HOMR clients have been “saved”? Have you noticed that there isn’t anything on the IFI website that answers this extremely important question (www.investorsfinance.net) look for yourself.

Mike Monaco… “proof up” and show the actual loans you have successfully purchased on behalf of those HOMR clients who have paid you their hard earned money.

Is everyone out there just completely missing the point. IFI is claiming to do something that has not been done. They are trying to build a business on the back of desperate homeowners. If Mike Monaco is so confident in his ability to “change the world” then let him do it with his own money… then and only then… offer the service to the public… but…he’s not… and that is why its called fraud!

Pedro… I’m not selling anything and do not claim to have an answer. I’m just tired of the lies and decided to speak out! Do what you wish with your money!

In the loan modification business fraud went on for years before the authorities stepped in and shut them down. IFI is still under the radar because they are small, the Principal Reduction Sweat Shops are not yet prolific and there have not been enough complaints filed against IFI… but their time will come.

The DRE, California State Attorney General, Feds and local and national media have all been contacted and one day soon... justice will be served.

One last point... Mike Monaco was the principal in a company called Sub500 Mortgage. He claims to have been an advocate for the disadvantaged borrowers by providing mortgages to individuals to who had FICO scores under 500... Are you kidding me?

Well guess what people... it was lenders like Mike Monaco who contributed to the chaos and collapse in the housing market by providing mortgages to individuals who should have never qualified in the first place. When borrowers with a demonstrated inability to pay their bills are your target market what does that make you... a savior or a vulture?

Any story can be spun and Mike Monaco appears to be a master weaver!

One thing that really bothers me is the role that the law firm USMAC played in all of this. They were the ones that contacted me originally and then became impossible to reach. Mike Monaco said that IFI was never involved with them, so how come they were the ones that got all our paperwork together and turned the file over to IFI ? USMAC has had serious problems before, you can read about them here on complaints board and their dealings with loan modifications through a lawyer named Christian Dillon. There are too many red flags here, people that I have spoken to that are now MIA (Debra J. at USMAC, Wendy Alvarez at IFI for starters). Since IFI did not want direct contact with their clients, we were supposed to go through USMAC which was totally impossible. There are so many unanswered questions and strange circumstances, since we started this process in February we have been left scratching our heads. If this is a legitimate program, it certainly hasn't been handled like one. I can not believe that any respectable business would ever be this sloppy. I am speaking as someone that was desperate to save my home and did this as a last hope. There are so many scams out there, it is disgusting, my friends in Michigan paid $, 4000 for help saving their home, they did nothing and my friends had no choice but a short sale and lost their money too. The people that are doing this need to be stopped, I don't know how they can even live with themselves. One other thing, when Debra Jay first called us she told us our new mortgage would be a certain amount, we even signed the papers agreeing to the terms, she suddenly disappeared and when I called her number I was told by a guy named Randy Tulley that she was on vacation. As far as I know, she never returned from that vacation. When the affirmation papers finally came from IFI, the monthly mortgage and interest rate was going to be way higher. Bait and switch came to mind. I have not sent any paperwork back to IFI since the latest phone call, I was told how much to bring to the table at closing and was asked for another slew of documents. My husband and I feel so negative now with the bad experience that we no longer believe this program will help us. We were fully able to afford this house until we refinanced with Countrywide to get some equity to put into our business, we had no idea we had purchased one of their infamous negative am. loans, that was the beginning of the end as our payments went through the roof. Our house has been stolen from under us and it seems there is nothing we can do anymore.

Heather... Investors Finance Inc is a wholesale operation... I explained it in an earlier post. They signed on businesses as their retail agents to secure clients like you. Each of these business agents are probably in the same boat you are as they have clients constantly inquiring about the progress with Investors Finance Inc.

I have no idea who the people are that you reference above as my research has been on Investors finance Inc.(IFI) Who did you pay when you signed up for the HOMR program? That is who you should go after. According to their website IFI claims to have hundreds of lawyers and agents bringing them customers and have set up this network nationwide.

Mike Monaco is a liar of top of everything else because a wholesale company should know exactly who brought them the client (you). Maybe they (USMAC) operated under a different agency name when they sent in your file... he more posts I read the more I realize he needs to be reported to all of the authorities for his actions.

The focus here is IFI and Mike Monaco... he and his company need to be stopped and the only way is send in your complaints to all of the authorities. The list or resources is in this string of posts... DO IT NOW!

Also make sure you send in all the documentation IFI is asking for. If you don’t then they have an easy out and can blame you for the failure of their HOMR service. Force them to perform… the truth will always com out in the end…

When we first signed on, we were asked to send funds to IFI through pay pal. For some reason pay pal would not allow the transfer of funds to them and then we were asked to pay IFI directly by credit card or money order. So, yes, we did pay IFI and this was when Wendy Alvarez became known to us. I totally agree, my husband and I will send in our documents, I guess it was a simple enough request, they need to know that we do have the funds to bring to the table if and when there is a closing. USMAC is the law firm that we were contacted by and they have been operating under that name for several years. I just don't understand why IFI says they were never associated with them when it was obvious that they were a retail agent working on their behalf.

It appears Mike Monaco will say anything to get the focus off of himself... Send IFI the requested documents 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]

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

Hey... Mike Monaco... whey the sudden change in your business model... NO more UP Front Fees? Starting to feel the heat?

How soon are you going to refund all of those HOMR clients who have already paid?

Unless you do... (refund all past clients) it sounds like you built the business on the backs of the distressed homeowners just as I described in earlier posts!

Heads up to all of those HOMR clients… put in for your FULL refund immediately...

Looks like our efforts to stem the tide of fraud are beginning to pay off!

Question though... what’s the catch Mike Monaco and why haven't you posted a full refund policy yet?

Mike Monaco just confirmed the illegitimacy of what he and IFI were doing...

IFI HOMR CLIENTS... DEMAND YOUR MONEY BACK (IN FULL) NOW!

Now is the time for all to act:

Call for your full refund NOW... IFI's number is [protected] & [protected] . Don't allow them to put you off with some orchestrated delay in a supposed refund procedure.

If they are not charging for the same service you paid for they are in direct violation of the LAW and you are due your refund in full IMMEDIATELY!

If they don't give you a full refund immediately then do as I recommended before and contact 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]

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.

I paid $795.00 by certified check in April 2010 .Can I also request for refund .

I called [protected] for my refund and case status and they told me that they will be contacting everone individually in next 5/7 business days with details.
Atleast now we have someone to answer.
Thank you very much for all your efforts on this and hope will receive my refund immediately.I have applied for this program in April and if they have not yet sent the proposal to buy the note and get the results in next 4/6 weeks I may have to look at other available alternatives.

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.

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.

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

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.

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 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.

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

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.

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.

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].

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!

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.

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

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.

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 ...

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

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

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?

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?

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.

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.

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]

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

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]

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

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!

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.