ComplaintsforGlobal Equity Finance Inc

• Initial Complaint

  08/23/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I entered into an agreement with Global Finance Equity with the understanding that if for any reason that was not my fault, I would receive a full refund of my appraisal fee. I provided the company with all information pertaining to the the application including the fact that I had a missed payment in January,2024. I provided the loan officer with my account information with the understanding that they would be paying the appraiser. Global finance without my consent gave my account information to the appraiser to bill me directly. Two days after the appraiser took money from my account, the loan officer from global equity informed me that the refinance was denied because of the missed payment which I had informed him of. Now they are refusing to honor the refund of my money and I cannot contact the appraiser as the phone number for their company just plays music. I need Global equity to honor their agreement and also to explain why they gave my bank account information to a third party. I would also like it to be noted that before the appraisal was done, I informed the loan officer that I did not want to continue with the process and he convinced me that I had already been approved. I will attach the texts between him and myself.

  

  Business response

  08/28/2024

  Client was asked whether she had been late on her mortgage.  She confirmed she had not been 30 days late prior to in process. Unfortunately, once the credit review came in it showed that she had a rolling 30 day late that had never been caught up.  

  Customer response

  09/01/2024

  I wish this business to review all texts, emails and phone calls between their representative and myself over the time period that we were corresponding with each other. This will prove that I discussed this issue in detail and informed the representative that I was breaking down the missed payment over time that was why I was paying additional money every month. Nothing was hidden from the representative and I feel like I was the subject of a financial scam against the elderly. Please review ALL correspondence between myself and the representative.

  

  Business response

  09/03/2024

  Thank you for your submission. Unfortunately, after review, this does not change the resolution. We do not charge for the appraisal- it is a third party Company.  We can provide you a copy of the Appraisal Report that you paid for.  

• Initial Complaint

  01/19/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Unsolicited phone calls despite request to be removed from call list and blocking multiple of the numbers they are calling from.

  

  Business response

  01/20/2024

  ******,

   

  You have been immediately removed.  Thank for you for letting us know you wish to be removed.

  Customer response

  01/20/2024

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
  
  Regards,
  
  *******************************
  
   
  

• Initial Complaint

  01/12/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I am on the Do Not Call list, yet Global Equity Capital continues to harass me on a daily basis from a different local number daily.

  

  Business response

  01/13/2024

  We will immediately look into and rectify. Please email your phone number to ******************************** and we will remove it from all marketing lists.

• Initial Complaint

  12/07/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Im on the do not call list, yet I receive 3 to 4 telemarketing call on my cell phone per day with a rep illegally trying to convince me to refinance from ****% to 7.5% with no tangible benefit. I requested to be removed every time and they get rude and obnoxious. Boiler room like sales culture attempting to sell unnecessary refinances.

  

  Business response

  12/08/2023

  Thank you for your email.  You have been added to our internal do not call list.  

  Customer response

  12/08/2023

  I received 2 more calls today.  Please really add me to your DNC list.  I am on the national list as well

  

  Business response

  12/12/2023

  Apologies. Managers were slow to respond.  This should be handled.

• Initial Complaint

  11/20/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I received 3 solicitation calls from them on Friday, 11/17/2023. On two separate calls I told them I was not interested in their services and to remove me from the call list. I received another call Monday 11/20/2023 where I again told them not to call me.

  

  Business response

  11/21/2023

  ****************,

   

  We apologize if you requested to be removed from the list and were not.  We are immediately looking into this and will make sure you are not further contacted.

• Initial Complaint

  10/10/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Have you lost a lot and above more while trading on bitcoin, Forex trade, scam romance and Binary Option? Have you tried getting your money back or out from your account and were unable to place a withdrawal? Have you found yourself wading through excessively complicated terms which might seem impossible to meet, all because you traded with an unregulated broker? Do not panic, I have good news for you. I lost over $200k to an unregulated broker who stocked my trading capital and denied me access to my account. But thank God I have recovered all my lost funds, through the help of a certified binary recovery expert. if her assistance is needed, kindly get in contact with her via HARPERJAMESPLATFORM @ G MAIL COM .and She will guide you on effective steps to take and get back all your lost funds in just few days

  

  Business response

  10/10/2023

  This is not a complaint.  This is spam

• Initial Complaint

  09/20/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  This company continues to call my cell phone number. Will not provide a call back number. The phone calls have become harassing and occur multiple times per day for the last several months. The callers are rude. I have asked to be removed from their call list, which I never signed up for, and they still continue to call me.

  

  Business response

  09/21/2023

  Thank you for reaching out.  We are looking into why you have not been removed and are immediately removing you.

  Customer response

  09/21/2023

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
  
  Regards,
  
  *****************
  
   
  

• Initial Complaint

  04/27/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  A refinance that occurred with an outstanding loan on my original house. This involved a third-party appraiser that they pushed to get done even though they knew that the appraisal would be charged to me separately and the loan may or may not be subordinated to the original home equity line of credit on my home I am out $580. I have left review the owner has not called me back from global equity

  

  Business response

  04/28/2023

  *****,

   

  Your appraisal came in at 362k vs 400k was your original estimate.  This is a standard part of any loan refinance. Additionally, you had an additional undisclosed lien pop up which you did not inform us about.  Unfortunately we cannot help you cover an appraisal cost like this when it was not our fault.  We are very sorry we were not able to complete your loan transaction on your behalf.

• Initial Complaint

  03/04/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  This transaction was done in November 2022. ***************************** was the loan officer who worked on this transaction. From the beginning of the process, he told me that I was getting a loan for $50,000 with my payments on the loan being principal and interest on a fixed interest rate for 10 years. After I finished signing everything, I found out that everything ****** told me was drastically and entirely different from what I actually received. The actual loan was an interest only loan for 10 years on adjustable interest rate. He never told me that the loans would be for 30 years. I didn't find this out until I called the bank trying to see where I was supposed to make the first payment on the loan. They explained to me that the payment I would be making would be applied to interest and if i wanted to hit principal on the loan that I would need make additional payments. I would have NEVER done this loan if ****** would've told me that I would be paying 10 years in interest only payments. Additionally, I was charged $1500 on my credit card for a "processing fee" to make sure my loan was "pushed to the front" according to him. ****** said there was a large volume of these loans coming through and that if I didn't pay the $1500, that we would have to wait a 2-3 months for underwriting to look at my loan. I've been trying to get in contact with ****** and he has not responded my calls or my messages. I am going to make a complaint with the **** as well about the unethical business practices of ***************************** and this company. The calls were all recorded with the company.

  

  Business response

  03/13/2023

  **************,

   

  Your son was the one who chose the loan for you after consulting with his Executive *************  Your $1,500 fee, which covers appraisal and other costs, will be refunded today.    

  Customer response

  03/17/2023

  My son is not a licensed loan officer. The executive ******, was the one who put me in the loan. As a licensed loan officer it is his job to fully disclose the terms and conditions of the loan. Instead, he had my son who again, is not licensed loan officer try to explain loan terms to me. On top of that he instructed my son on signing documents without my consent and without me even looking at the documents to speed up the process. The companys response was not what I expected. I was taken advantage of and lied to. I put my faith in the company and trusted a licensed professional to fully disclose all information of the loan. Ultimately the loan that I ended up with was not anywhere near the loan that ****** had discussed and explained to me or my son. The resolution that I am looking for from this company is for me to have the original loan that ****** had explained to me I was signing. The executive ****** explained to me that  I would have a 10% fixed interest rate with a payment of $440 monthly for 10 years, and every payment that I would make would go towards the interest and the principle of the loan. Also, ****** told me that  I can pay any additional amount of money that I want towards the principle and that the monthly payment would be reduced depending on how much more money I would pay off of the principle. He never once told me that I would be paying only interest for 10 years. He should have reached out to me directly since I am the client, not my son.

  

  Business response

  03/17/2023

  **************,

   

  All the disclosures go over your loan in detail.  After pulling recorded calls- all the terms of the loan were correctly explained to you as well by your licensed Loan Consultant ******************************  We've done as much as we can to remedy your situation at this time.

  Customer response

  03/27/2023

  I received a call from the executive **** with no solutions to this situation. This situation has not had any type of remedy or attempt to be fixed. As stated previously, all I am looking for is to get the loan terms that I was promised. Since these calls are recorded I am willing to fly into ********** to listen to the call where ****** supposedly explained these loan terms to me. If this were true I wouldve never gone through with the loan.

• Initial Complaint

  02/20/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  They lie, said they were GE, they are not. After they still refuse to a swer a question, !Q1 confirm they offer HELOC 2 a rate They wanted a full packed a d keep harassing me about loan refy. When I have a 2.5 rate....and kept telling me this is what .ost people wa t...but I called about HELOC, AND THEY REFUSED, CLASSIC BAIT SWITCH. NOT TO BE TRUSTED

  

  Business response

  02/21/2023

  Hi *******,

  Thanks for reaching out- couple points of clarification... appears there has been some miscommunication:

   

  1) We do offer Home Equity Lines- it is one of our specialty products.  However- in order to any sort of loan approval we must run a soft credit check.  (Not at all a full package) After review of your application- your application stopped short of you completing a soft qual credit check. Soft pulls don't impact your credit in any way- however they are required in order to provide any sort of quote.  

  2) We are Global Equity Finance- AKA GE Finance (our website is www.gefinance.com) 

  3) There has never been any desire to bait and switch you- although since our core product is refinance, representatives often refer to both Home Equity Lines and primary loans as refinances.  (Both are financing the property)

   

  Feel free to reach out to me at ************. Thanks- *******

  Customer response

  02/28/2023

   Thank you for your response.

  
  

  1) we were told this was GE capital, but we were tra served 3 times.

  THIS IS NOT GE CAPITAL.

  2) we wanted information on a Heloc, but they kept saying most people wanted a cash out...

  3) 10 minutes in, they wanted not summary information, they wanted detailed private info.ation...e.g. each individual SSDI, vs sum.ary.  we have $500k in equity, but they wanted more detail for a rate including a soft hit to our credit score.

  4) then when we refused, they sent a BBB link, which we did not need or want...all I wanted was a rate...which requires 100% application.  Not what I requested.  But since they sent the link, I want the complaint to stand.

  
  

  Thx

  ***************************

  

  Business response

  02/28/2023

  The call has been reviewed. We indicated that we are GE Finance (as you can see at our website gefinance.com).  In order for any sort of rate to be quoted- a soft pull has to be done on credit. There is no such thing as rate without soft pull as rates are completely dependent on credit.  Soft pulls cost the Company money to pull on your behalf- we do not bill the client. Furthermore- it does not affect your credit in any way.  We apologize you felt this experience was sub par- we will work on our customer service.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩