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Review 12/5/2007
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Angelus Funding is one of those companies that gives the real estate industry a bad name. Its constituents have no moral qualms about committing forgery, lying, deceiving, and defrauding banks/individuals. They are motivated purely by greed and self preservation. I was introduced to Tom Murphy of Angelus well over a year ago in relation to a property that was going to be torn down and rebuilt as a luxury residence - according to them, it therefore had equity "built into the deal." Little did I know, they had already attempted to put a "straw buyer" into the property and the deposit monies put into that transaction were forfeited to the seller due to the buyer backing out of the purchase. I was induced to act as a "straw buyer" on the promise of a substantial personal profit in the distant future. Never was I made aware of the financial, legal, and criminal liability that they were putting me into, while Angelus assumed none of the risk.
After many months of manipulation, Angelus procured a first and second loan for my purchase of the property. Mr. Murphy even set me up with a third position loan through the seller (done outside of escrow - all of that money went straight to Angelus) which is now impeding any potential sale of the property. When the time came to make payments, Angelus shirked their responsibility and it's been nothing but calls from the bank, investors, etc. since. Suffice it to say, my good credit has been ruined and the property has been on the brink of auction through foreclosure twice. Tom has even been so bold as to continuously tear down my for sale by owner signs claiming that it isn't my place to sell a property that's wholly in my name! They put tenants into the house without my permission and collected rents on my behalf (which were never forwarded to me). How do I know they were involved in renting it out? I was never provided keys to the property. Tom Murphy was the only one who had keys after the transaction closed and yet he has flatly denied any connection to the renting of the property.
To this date, I have yet to hear even a single utterance of an apology or tiny admission of wrongdoing from Mr. Murphy. He has continued to maintain his self righteous stance in the face of insurmountable evidence to the contrary. Not only has he avoided any admission of wrongdoing, but he has repeatedly lashed out at those who have been wronged by his actions and made claims against their characters. This "deal" has single handedly ruined my credit and backed me into a horrible financial corner that I wouldn't wish on my worst enemies (with the exception of the members of Angelus, of course). They have a growing list of people who are now filing complaints through legal means, the California DRE, the Department of Labor, the IRS, etc. Notice how many of their brokers have left: http://www2.dre.ca.gov/PublicASP/pplinfo.asp?License_id=01517689 DO NOT DO BUSINESS WITH THIS COMPANY! YOU WILL BE SORRY IF YOU DO.
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