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Mr Gaurav Kumar a mortgage agent who works with Financial Ties Inc. Brampton introduces himself as mortgage broker whereas he is only an agent and is blacklisted in most of the banks and financial institution because of his fraudulent activities and high volume of consumer complaints against him. He still manages to operate his business by forwarding his deals to other corrupt mortgage brokers/agents by keeping his cut. He is blacklisted in most of the Real Estate offices like REMAX and Century 21 as well. His regular business tool to trap new and naive home owners is through placing free classified ads on KIJIJI and Craigslist etc. He would offer loan consolidation service by way of refinancing or 2nd mortgage will charge about 1% for refinancing and up to 12% for a 2nd mortgage. He would promise you numerous cash backs and rebates at closing of the transaction but nothing like that will ever happen, without the consumer knowledge saying "Don’t worry I will get it approved" he would create all false documents e.g. Pay Stubs, Job Letters, Bank Statements and even Govt. of Canada's NOA's leaving you with all this mess and even a possible legal law suit. He owe’s money to numerous people which he never pays back.
We recently needed some money to pay off debt and found Mr. Gaurav on Kijiji, at first Mr Gaurav acted very professional, informative and a sweet chap, he convinced us to refinance our home, he said his fees will be 1% of the new mortgage, he said just sit back and relax I will arrange everything, He wanted half of the amount upfront which we refused to give. He started asking for money, first the office processing fee then appraisal fee, then Job letter and pay stub fee, to this my husband why are u charging us for this fee when I can give u my job letter and pay stubs he said no those won’t work let me handle. after one month of agony Mr Gaurav said I tried all the banks but you won’t get refinancing so only choice we have is to take 2nd mortgage, we didn’t want to go ahead but we had already invested money and he wouldn’t give us the appraisal report and refund any office fees, so reluctantly we went along, by this time my husband started inquiring about him and to our surprise who ever we asked mostly real estate agents they all said he is black listed why did u go with him, we were devastated but could not do anything. in about 2 or 3 days Mr Gaurav brought bunch of papers and said congratulations your 2nd mortgage has been approved, and asked us to sign the documents he didn’t want us to read and started getting agitated when we started asking questions especially when we got concerned with 12.5% processing fee and 15% interest rate, He said don’t worry right now take it and before closing I will reduce the fees to 8% and Interest rate to 10%. By this time we were desperate and really needed money, so upon his assurances we agreed and signed the papers. On closing day he said I can’t do anything about the interest rate it will remain 15% but the processing fee has been adjusted but the office rule is that they will only refund it to me and right after closing you can come to my office and I will give you the cheque. He completely took advantage of our situation and had us totally in control. Since then it’s about four months Mr. Gaurav has not given any money and now doesn’t even pick up our phone calls.
We have reported the whole matter to FICO and have formally complained, but everyone tells us we won’t get anything out of this, and that this is the normal practice of people like Gaurav Kumar.
Please beware
How do i delete a complaint that I submitted few years ago, the issue was resolved quickly by that mortgage guy as soon as he learned that I have started complain process with his organization, the person has apologized and I just feel bad that it might still be harming his reputation.
I deal with Gaurav also and he did exactly the same thing he still has to give us $1500 which he said bank will send cheque but the bank say we never said anything like this. Gaurav lied to us and he never paid, I Complain to his office also but his boss didnt do anything he is same. Bunch of Jerks and CHEATERS.
You should be reporting your complaint to the Financial Services Commission of Ontario FSCO. According to their site, this man is licensed to work as a mortgage agent, not a broker, and working in Pickering not Brampton on Advance Blvd. I am enclosing a link to the FSCO web-site, that shows this information. Any complaints that you have about agents/brokers should go to FSCO, and they will investigate. If necessary, they can revoke his license and even penalize him if needed. All hiring brokers should be checking this site before they hire an agent. There are other databases that brokers use too to filter undesireable agents such as REDX. Lenders will also check this site to see if they should work with the agent. Please copy the link and paste on your webpage. http://www5.fsco.gov.on.ca/mbsweblist/ShowLicence.aspx?M08004453~_EN
Their contact information to report a concern - see this link. Hope this helps you. Good luck! http://www.fsco.gov.on.ca//en/About/contact/Pages/default.aspx
I deal with Gaurav and he did, the same thing he still has to give me $500 which he said he will give me in 10 days but its now 5 months still outstanding. Gaurav lied to me and he never paid, I Complain to his office also but his boss didnt do anything he is same. Bunch of Jerks and CHEATERS. Just avoid him he is a thief.
I am a Broker at Remax, have worked at Century 21 for more than 5 years as well and I can tell you with complete certainty that Gaurav is not blacklisted, and this complain is from one of the haters perhaps a competition who cant see an honest person succeed in life... He is one of the Top Agents referred by Remax throughout Toronto and area. Gaurav is professional hardworking and extremely generous person. Gaurav has helped thousands of families in securing mortgages and loans, anyone of them can vouch for his services. I was surprised and shocked to see this complain and felt sorry for Gaurav that someone can to this level to harm someone's reputation. I ask the admin of this forum to take action and delete this complaint.
i just gone through the complaints, but dont think mr gaurav kumar is bad person. he was always clear and honest in all transactions with me, i am a realtor and got my clients mortgage couple times from him. i think few people just spoiling his name.
this bad remarks and reviews should be removed.
i am a sales representative with fortune homes realty inc. and dealing with him since last one year, he is always transparent and prompt in his dealings. i recommended him many times to my clients. my clients have very good reputation for him. His services being appreciated always.
i am sure some one is spoiling his image, i can not believe some one doing this.
i wish him all the best and wrong statement should be removed from this blog.
I was Introduced to Mr Gaurav Kumar by a friend when i was going to sell my house. I really thought that was the only way to get out of the debt i was in. Mr Kumar came to my house and spoke to me and explain why i should not sell my house. He walk me through all the steps and help me to keep my house. I can call Gaurav anytime and without prior notice and he takes my calls and help me.I find no fault with Gaurav business dealings. He always takes the time follow up to see how things are going. He has gone beyond and above and encourage me to do a will. I just wanted to say thank you very and i do enjoy doing business with you
God bless you and your family.
Ann Decicieo
I am a Real Estate agent working with Royal Lepage Flower City Brokerage and I know Gaurav Kumar from last 10 years, he is always transparent and a true professional.He helped my clients in mortgage financing without any hassles.Keep the good work going!