Tim Rosen from Aberdeen Financial Associates and Ray from Associate Appraisal Group appear to be running a major asset funding scam. He claims to be able to fund just about any type of asset with unbelievable rates and terms. Once he hooks you with his believable story then he needs to get your asset evaluated for funding even if you have a valid appraisal. In an effort to do this you must work with one of the approved appraisers. Then he supplies you with one by the name of Ray from associatesappraisalgroup.com.
They have a pretty slick system, and Ray appears to really know what he is doing. The realty is once you believe in their story they got you. As they will come across as very carrying guys that can definitely provide what you need. Then Ray asks for money to complete the desktop or field appraisal. If you start to question the payment at all, Tim will step in as a good gesture and say he will kick in half..... Because they are two separate companies, at least from the outward appearance and are in two different locations you tend to get a since that they are really trying to help.
That’s when all the warning bells started to go off and I should have run.......
First red flag they want the money wired, or Western Union'd…..No checks, No credit card payments. I told them know way, so Ray gave me a Bank of America account in the name of Alana Smith which he said was his office manager Acct # and told me to make a deposit. Which I foolishly did, as I needed to get this transaction closed for my client.
2nd read flag was they really didn't ask about my clients ability to pay the money back, as they never asked for financials, or a credit report, yet they were willing to lend on high end real-estate @ 80% of appraised value or purchase price whichever is higher. Terms at 3 1/2 percent interest only for 5 years and 2 points. Sounds like a dream.
Keep in mind they were always there for my calls if I had any questions prior to making the deposit. Once I made the deposit, that all changed and the calls were very infrequently, they basically disappeared and would never provide anything of substance (no appraisal).
After about 50 phone calls and texts to get them to return my call. Tim sent me a cryptic text message. Since I was on a deadline to close, and Tim knew I asked him if we were closing tomorrow, his response was "looks like it"... The next day when it was supposed to fund, Tim decided to turn off his phone at least for my calls.
I should have known as up to that point I had never got anything from either Ray or Tim in writing just a bunch of hot air. They promised to send me the appraisal (which they said was done), plus an LOI with supporting documents to fund. None of them ever arrived.
Day after we were supposed to fund I get a call from Tim… Tim repeatedly apologizes and tells me he will take care of it, and they will fund tomorrow. In the meantime he says he will get me all the documents for funding and will send them to me in 30 minutes, then it turned into 2 hours, they finally arrived almost 4 hours later. It was a boiler plate letter of intent, which was so vague it made me sick to my stomach; of course he wouldn’t pick up his phone once I got it.
Now comes funding day. Keep in mind he never got me anything concrete, no appraisal, just a boiler plate Letter of Intent which wasn’t even filled in with the buyers information nor did it have the correct property values…. He now chooses to disappear again, and not answer or return any calls are emails even though he knew it was closing day. My clients are screaming as they need to move on, and now I have a loan officer who has disappeared and it appears to be nothing more than a quick money game for his gain only.
Since I applied, I know 2 other people who have been promised the same pile of crap. Each of them were taken for a lot more money. Both Tim and Ray are the epitome of lies and deception. I am going to go down to the Bank of America to file a fraud ticket with them. I am posting this on many more scams sites, along with reaching out to the Attorney General in AZ and California for fraud and other violations.
If after you read this you still choose to do business them, don't come crying as they are very deceptive.
Aberdeen Financial Associates Reviews
Tim Rosen from Aberdeen Financial Associates and Ray from Associate Appraisal Group appear to be running a major asset funding scam. He claims to be able to fund just about any type of asset with unbelievable rates and terms. Once he hooks you with his believable story then he needs to get your asset evaluated for funding even if you have a valid appraisal. In an effort to do this you must work with one of the approved appraisers. Then he supplies you with one by the name of Ray from associatesappraisalgroup.com.
They have a pretty slick system, and Ray appears to really know what he is doing. The realty is once you believe in their story they got you. As they will come across as very carrying guys that can definitely provide what you need. Then Ray asks for money to complete the desktop or field appraisal. If you start to question the payment at all, Tim will step in as a good gesture and say he will kick in half..... Because they are two separate companies, at least from the outward appearance and are in two different locations you tend to get a since that they are really trying to help.
That’s when all the warning bells started to go off and I should have run.......
First red flag they want the money wired, or Western Union'd…..No checks, No credit card payments. I told them know way, so Ray gave me a Bank of America account in the name of Alana Smith which he said was his office manager Acct # and told me to make a deposit. Which I foolishly did, as I needed to get this transaction closed for my client.
2nd read flag was they really didn't ask about my clients ability to pay the money back, as they never asked for financials, or a credit report, yet they were willing to lend on high end real-estate @ 80% of appraised value or purchase price whichever is higher. Terms at 3 1/2 percent interest only for 5 years and 2 points. Sounds like a dream.
Keep in mind they were always there for my calls if I had any questions prior to making the deposit. Once I made the deposit, that all changed and the calls were very infrequently, they basically disappeared and would never provide anything of substance (no appraisal).
Tim Rosen’s number is: (415) 656-9016
email address: [email protected]
web address: http://www.aberdeenfinancialassociates.com
Rays number is: (949) 310-1691
email address: [email protected]
web address: www.associatesappraisalgroup.com
After about 50 phone calls and texts to get them to return my call. Tim sent me a cryptic text message. Since I was on a deadline to close, and Tim knew I asked him if we were closing tomorrow, his response was "looks like it"... The next day when it was supposed to fund, Tim decided to turn off his phone at least for my calls.
I should have known as up to that point I had never got anything from either Ray or Tim in writing just a bunch of hot air. They promised to send me the appraisal (which they said was done), plus an LOI with supporting documents to fund. None of them ever arrived.
Day after we were supposed to fund I get a call from Tim… Tim repeatedly apologizes and tells me he will take care of it, and they will fund tomorrow. In the meantime he says he will get me all the documents for funding and will send them to me in 30 minutes, then it turned into 2 hours, they finally arrived almost 4 hours later. It was a boiler plate letter of intent, which was so vague it made me sick to my stomach; of course he wouldn’t pick up his phone once I got it.
Now comes funding day. Keep in mind he never got me anything concrete, no appraisal, just a boiler plate Letter of Intent which wasn’t even filled in with the buyers information nor did it have the correct property values…. He now chooses to disappear again, and not answer or return any calls are emails even though he knew it was closing day. My clients are screaming as they need to move on, and now I have a loan officer who has disappeared and it appears to be nothing more than a quick money game for his gain only.
Since I applied, I know 2 other people who have been promised the same pile of crap. Each of them were taken for a lot more money. Both Tim and Ray are the epitome of lies and deception. I am going to go down to the Bank of America to file a fraud ticket with them. I am posting this on many more scams sites, along with reaching out to the Attorney General in AZ and California for fraud and other violations.
If after you read this you still choose to do business them, don't come crying as they are very deceptive.