Consumer Complaints and Reviews
I have had several loans turned down for my clients due to the Dodd-Frank laws passed. This company can help those clients that really have nowhere to go. These guys have great rates for 30 year fixed interest rates. Don't be put off by ONE bad review. There are some people that just can't be helped. They live in the house for 4 years and never make a payment and blame on the economy. There are lots of good loans out there for people that are fixing their credit. This is at the TOP of my list.
Last year, I went and requested a modification due to being deployed and I had a loss in income. On 2/27/2009, I was approved for the modification and was required to put down a large down payment. But when I received the paperwork, it was not a modification. It was a forbearance and the delinquent payments were to be spread out the full remainder of my loan which was 25 years left. My payments went up from $790 to $1230 monthly and next payment due was 3/1/2009.
I disputed the next payment due date because I felt like the company was placing me back in a hole. I also disputed a forbearance because I could not afford it considering they were my first mortgage and I also had a second mortgage. I was told that my second mortgage did not matter because if they foreclosed on my home, they would be zeroed out. I was told by the manager/CEO of the company I should be happy that they are helping me, that they did not care that I was serving my country; obviously I could not afford the home anyway. I started making my payments on time but my income was 56% of my mortgage payments. Having a hard time paying the mortgage and all the other bills such as utilities became stressful and a strain to me. So I filed for bankruptcy. I then went to the mortgage company and asked for a modification again.
The representative Kyle ** then told me that he would send the documents although I may not be approved. I never received the paperwork via email nor fax. I called over and over, left numerous messages and still nothing. I then received a foreclosure notice in May 2010. I overnighted a dispute letter. They postponed the sale for 30 days. In the meantime, I went to the VA and was able to get a guaranteed approval letter to refinance the loan. They also wanted a copy of my payment history. I overnighted another letter submitting the request. They never received it. I then overnighted a 3rd letter. Still there was no response.
I contacted my mortgage company and left a message on Kyle's voicemail and he never returned the call. I contacted the attorney handling the foreclosure who states they never received any request. I gave them the tracking number and they immediately apologized and stated they did not know what to do with the request along with deployment documents showing I was on active duty, my company commander wanting to help me get current on my mortgage.
Kyle sent me an email on 7/7/10 stating that he wanted to discuss the foreclosure that took place the day before on my property and had an awesome deal for me. He stated my phone number was disconnected and the reason he never called me was because there was no other way to contact me. I then called him from the same cell phone number he had previously been contacting me at. He stated they foreclosed on 7/6/10 and he wanted to offer me cash for keys. I explained to him I was on active duty and the VA was going to help me with my dispute on being so far behind and the refinance and I needed a pay history. He advised me that's neither here nor there. They own the property and regardless of active duty DDOS had not responded to the verification. I was required to take the cash for keys or my family would not have a home.
He sent me some paperwork stating that I could not file a complaint against the company if I took the cash. I had to rush and find an apartment for my children. At this point, I still feel that because this company is considered to be in the oil field business, they are not helping their customers. I tried filing a complaint with the Better Business Bureau and they could not find any information on this company being a mortgage company. I am now asking for your assistance. My property was foreclosed on 7/6/2010.
Early in 2008, my wife and I realized that we may be heading into some financial difficulties with a number of our rental properties. In March 2008, my wife attended a seminar put on by Cambridge Financial Consultants LLC at the Marshall Reddick Learning Center, 1691 Kettering St., Irvine, CA 92614 hosted by Marshall Reddick Real Estate Network. There, Cambridge Financial claimed to have great success in modifying existing home loans. After meeting with Grey Ysidro, ** and **, they claimed they could easily reduce our present high interest loans to 4% or lower and they have an 85% success rate. They also stated they can do this because they have an attorney, ** working in their office.
On May 30, 2008 Cambridge Financial Consultants, LLC at 9660 Flair Dr., Ste 498 El Monte, CA 91731 requested an upfront check made out to Citadel International, Inc. in the amount of $7,749.00 to modify 10 properties equaling 12 loans. The contact person was ** (note the money had to be paid for before they would send the contract). Contract date was June 12, 2008. Our thought was that if they can do even half of what they say they can do, we would be able to hold on to our rental properties which represent all of our retirement and get by this tough time.
So we proceeded. They also stated this process takes about 30 days to complete. They also told us not to talk to our lenders during this time as they would be negotiating with their attorney on our behalf. After months and months of promises with no results, we were told that they do not have an attorney working with them any longer and we needed to get a lawyer. They stopped all communication on November 24, 2008 and vacated their place of business. I promptly filed a small claims suit to try and get back some of the money we had paid them and did get a judgment for $7,500 as they never showed up in court. However, we have not as of yet been able to collect the judgment.
As it turns out, the $7,500 was only a small part of the money we would lose due to the fraudulent acts of these companies and individuals. Since we were advised not to talk to our lenders and they also did not talk to our lenders, our lenders would no longer discuss options with us and have foreclosed on our properties. We were also left with no time to investigate other options such as chapter 11. The total loss to date is $291,934.62 + in cash and $1,443,936 in real estate. And it doesn't stop there. Since these properties were used to produce income, we are now on the hook for the deficiency, attorney fees and taxes. This is well over $1,000,000.
I believe Cambridge Financial Consultants, LLC and Citadel International, Inc. are in fact the same people and Citadel international, Inc was a shell co. set up to defraud the public by offering false help to desperate people losing their homes and livelihood in this present economy.
According to the California Secretary of state, Grey Ysidro is the chief executive officer for Citadel International, Inc. and G.R. Isidro is the agent for Cambridge Financial Consultants, LLC. Both companies are listed to have the same address. Since the Secretary of State does no policing of their own, people like these are able to put any name they want on the Secretary's Statement of Information. Just change the I to Y and you now have a person that does not exist and cannot be brought to justice. According to the Secretary of State, Craig Triance was listed as the owner of Cambridge Financial Consultants, LLC. in 2006. He was listed as the secretary of Citadel International, Inc. in 2008.
Protect yourself against fraudulent loan modification companies like Citadel International, Inc. I paid them $2,500.00 over one year ago to perform a loan modification. It was all a scam! You don't have to pay for this service. In California, it is illegal for anyone except attorneys to take a fee before they provide the assistance. Under California's Mortgage Foreclosure Act as codified in Sections 2945 et seq. of the Civil Code, all so-called foreclosure specialist or consultants are prohibited from collecting an upfront fee from a consumer, even if they work with attorneys or have attorneys inside their shop. Hence, they must perform services before collecting a fee absent being a law firm where an ordinary attorney/client relationship has occurred under a normal retainer agreement.
Recently, a mortgage modification shop was shut down by the California Attorney General's office and the attorney who worked with them was brought into the unlawful liability since he never undertook any of the consumers as clients under an attorney/client relationship. Therefore, they were prohibited from taking an upfront fee and should have performed the services first and then tried to collect, which typically is hard to do. So that is the reason many are trying to work with attorneys but both are misinformed on the law. And this is probably the first of many more cases to come because it generates revenue for the state millions in fines for getting this wrong. This is all laid out in California Civil Code section 2945.
My calls were full of excuses by Citadel owner Grey Ysidro. I was told the process takes 60 to 90 days and that Citadel had a 90% success rate in negotiating with the lenders to achieve a loan modification with interest rates as low as 3%. After I paid them the $2,500, I began to discover how this company really operates. They took my money and ran! I found out later that he filed for bankruptcy and heard that he used all the money to invest properties on the East Coast!
They claimed to have helped several people reduce their principal mortgage and interest rates, thereby significantly lowering their monthly payments. Catch? $2,500 non-refundable fee was due upfront (I should have sensed something?). Anyway, my loan was not modified and they closed up and left! I am in more debt than I was before I talked with Grey ** who persuaded everyone to use credit card to pay him and in return, we would save much more!
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Beware of this company. Fraud! Fraud! My husband and I paid Citadel $2,500 for a loan modification and it was all a big scam. They took our money and never did a thing for us. We took them to small claims and they never showed up. We won the case, but our money is still not in our hands and now we are in foreclosure. Beware people, they will make false promises. Don't be fooled like us. I wonder how many other innocent people are out there who didn't fight back.
I paid Cambridge Citadel International $999.00 for a loan modification on 4/14/2008. No one followed through on my application for a loan modification. I left five of my original files with Grey Ysidro, CEO/President. He is the last person I spoke to in November 2008. I have left several messages on their voice mail asking for the return of my files. No one has returned my call for five months. I have gone to their place of business and no one is there. I already filed a police report.
Citadel International Company Profile
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- Citadel International