
Okereke of Phillips Ranch, CA on Oct. 27, 2006
I responded to an ad on the Internet which turned out to have been placed by New Wave Corp.The ad claimed to be able to assist anyone with a job and a reasonable income to purchase a home with no money down. It claimed that through their financing network of lenders, New Wave Corp, would match individuals with Financial institutions who make home loans. After filling out the form on the Net, I received three phone calls from one Mr. David H.
The calls came when I was at work and I got the messages to call Mr. David H. I eventually was able to reach him by phone and he explained the process by which the company is able to do what it claims. He asked for my employment status and my average monthly income and my credit score. He then explained to me that he would run my credit, and if I met the acceptable credit rating of their lenders, he would prequalify me for a determined loan amount based on my credit score and monthly income. However, before he would run the credit, he demanded my credit card information in order to bill me for a fee of $456.00.
When I pressed him for explanation for wanting my card information before running my credit, Mr. H explained that it was their way of separating curiosity seekers from serious clients interested in purchasing a home. He also explained that my card would not be charged if my credit rating did not meet the accepted score determined by their lenders and the transaction would stop there. He added that $300.00 of that amount would be refunded to me if and when I closed on the property that I would eventually purchase through them. He said he would fax me some documents detailing how the process works. He did fax me the papers. Convinced that he was sincere, I gave him my credit card information.
He called me back fifteen minutes later and enthusiastically announced to me that my credit score met their criteria and that I had been prequalified for a $500,000.00 loan amount by one of their lending banks. He told me I could start looking for a property and faxed me a list of websites where foreclosed properties could be located. He promised to mail me the letter of prequalification the same day and that the letter would reach me within five working days. He told me that my card had been successfully debited in the amount of $456.00. It has been over a month and I have received no prequalifier letter or any document with which to present the seller whose condo I offered to buy.
Countless phone calls and messages to Mr. H, some of which were never returned, have made no difference. He continues to make one excuse after another why the letter has not reached me. Just three days ago, when he inadvertently answered my call, I asked him why it was taking so long to get the prequalifier. He transfered me to a lady who she said was handling my file. The lady, to my surprise, told me there was no letter of prequalifier in the mail and that instead, a lending institution they matched me with would call me with the qualifier. When I asked her if Mr. Hopper had lied to me in saying that a letter was mailed out to me, she responded that Mr. H was probably not aware of a change in the process.
I then demanded to talk to Mr. H. He had no explanation for why he told me a different story from that by his own employee. However, he promised to get on the phone and get the lending bank to call me directly. No one has called me since. Worse still, I have been unsuccessful in reaching Mr. H. All I get is an announcement on his extension to leave him a message and he would call back. He never does.
I have been defrauded of $456.00 and the seller of the condo I offered to buy has lost faith in me and thinks I am a joke.