SABA financial LLC Bill&Sue Avignone screwed us out of 50,000 and our home La Mesa, California

29th of Oct, 2011 by User935239

My wife and I and two children (5and3) started going to a church Jan.of 06. The pastor of this church seemed pretty trustworthy.After getting to know him he knew I was getting ready to start my own drywall business and approached me with his sister and brother in law's business card and told me she was very good with money and that they were christians. This was 5-6 months later. When I contacted them(southern CA) they wanted to come to our house(AZ) and talk to us. That was fine. I just wanted to borrow 5,000 to get my business started (tools and license). They came to our house and started asking about the equity in our home.Well at that point I had no idea what we had,my wife and I gave Bill and Sue the info they needed to find out and waited to here back from them.
The next time they came to our house they told us we had 125,000 in equity and had their computer with our info showing that if we were to invest in two life insurance policies and put 50,000 in each account in 4 years (1 for my wife 1 for me) that when we would retire at 65 we would have 1.2 million in each account the way the accounts accumulated money.Compounding interest.
Our mortgage payment was only 350.00 a month but by refinancing it would go to 1200 a month.My wife was very much opposed to the idea but of course my eyes lit up when I saw how much money we would have to retire on.
When they saw how opposed my wife was they started in on us with the bible and how GOD gave us this money and we would be good stewards to use this money for our future and children's collage ,and how they were the same at first thinking JESUS was going to come back soon and investing was something they (Bill and Sue) were against doing also.Sue also said that if your house burnt down you would loose all that money (equity)
My wife didn't want to budge but finally gave in cause she was tired of arguing with me about it.
We decided to do it and sue was the one who searched around for a bank to refi the house but, it was hard she said cause it was a manufactured home and bank's didn't want anything to do with them. All we had to do was sign our name Sue did all the work,and for free too cause the insurance company took care of them for bringing them business.
We finally got our money, started our 2 policies putting the most possible being legal 12,500 in each for 2 years (50,000), paid off our car and about 10,000 in credit cards,we then put the rest of the money in an ING account because it had the most return in interest,Bill also had us sign a paper to where he could over look this account just in case we started spending the money he would contact us to see what we were doing,which was fine because as Bill and Sue always stated they were out for our best interest,and I fully trusted these people cause they were christians and we were being good stewards of our money.
In April of 09 I get a call from Bill, he said he came across an excellent government deal to buy a house in Georgia for 50,000.He stated that we (my wife and I) could finally get into our own insurance policies take money out and move it to another vehicle to where we would make a better return on our money.We could get 10% interest in quarterly payments for 5 years and in 5 years get our 27'000 back and sell the property and receive the equity out of the house.WOW that sounds great!,but we could only take out 27,000 and Bill and Sue put out the rest (23,000) and in 5 years split the equity with us,because of course they are always out for our best interest.Bill stated he hadn't come across such a great deal like this ever.I was excited ,WOW GOD is really blessing my family and, such great christian people Bill and Sue are.
My wife again was opposed but knew she wouldn't win the argument with me.We took 27,000 out of our retirement accounts wrote a check to Bill and Sue's business SABA financial. All we have to show for 27,000 is a promissory note describing the details of the loan,10% in interest in quarterly payments($675)for 5 years and in 5 years 27,000 back to us plus 50% of the equity,oh and our name as 1st lien position on property,We don't have any documentation of any property,anywhere!!!! Only a piece of paper called a promissory note which I've been told wont even hold up in court!!!!
Finally a few months later the economy starts to collapse ,which I believe these people who are so knowledgeable about the market had to of known construction work was going to collapse and,all the extra money in ING we were saving to put in our retirement accounts 12,500 again at the beginning of the year,this money is going back into our mortgage payment and for bills.Back to the promissory note it states should the maker(SABA) default(breach)the note ,the holder (my wife and I) can send a certified letter to SABA and our 27,000 plus interest shall be returned IMMEDIATELY. So the first time they defaulted Sue made us wait till the next quarter to pay us up, 2 checks both for 675.00.Why I don't know.At this time my wife and kids are in AZ, while I had to go to Montana where I had relatives to find work.My wife and kids had to move to MT. after 2 months because I had full time work and her work cut her hours back and the money wasn't enough to even buy food for the week.So now we are in MT. and Bill and Sue in (CA) are now not returning our calls. I would send emails for them to contact us but of course would wait a month before a response,and the response was that they were dealing with personal problems and would get back to us later! I guess their problems are far more important than oursand our interests mean nothing now. Out of the blue I get this call from Sue's brother (the pastor) accusing me of sleeping with his wife and that if I were in front of him he would "BEAT MY F...ING A..!!!"SO now my wife is beside herself and ready to divorce me and I'm not understanding what the hell is going on.AT THAT MOMENT I TOLD MY WIFE BILL AND SUE ARE GOING TO SCREW US OUT OF OUR MONEY!!!
Now it's time for our quarterly payment but it didn't come.Now I'm really pissed cause her I get this disturbing call from A PASTOR , our check didn't come and we are really struggling financially,still trying to make the mortgage in AZ ,paying rent here and Bill and Sue ,who have always had our best interest in mind, are ignoring our phone calls and emails!We finally sent a certified letter ,and then another notarized , certified letter asking nicely for our 27,000 back. That was in June 2011.It is now Oct.2011 and no quarterly payment and no 27,000,no phone calls,no emails.the rest of the 50,000 in our retirement policy 23,000 GONE,because of the insurance policy fees it has a 0 cash value. 50,000 GONE ,WE COULDN'T PAY THE MORTGAGE ANYMORE AND HAD TO LET THE HOUSE GO!I DON'T UNDERSTAND ,THESE PEOPLE ALWAYS SAID IN THE BEGINNING THAT THEY WERE ALWAYS LOOKING OUT FOR OUR BEST INTEREST!LOOKS LIKE TO ME THEY FOUND TO SUCKERS AND PLAYED US AND PLAYED ON OUR EMOTIONS USING GOD AS THEIR LEVERAGE TO GET MONEY AND USE IT FOR THEIR INVESTMENTS,AND THEIR CHRISTIANS!!!!!I'VE ALSO HEARD THAT THIS PASTOR HAD GONE THROUGH 65,000 OF THE CHURCH'S MONEY(ALL THE CHURCHES SAVINGS)THEN TOLD THE PEOPLE OF THE CHURCH GOD TOLD HIM IT WAS TIME TO MOVE ON.MOST THE MONEY IS UNACCOUNTED FOR.MY WIFE AND I FEEL THESE THREE PEOPLE SET US UP FROM THE BEGINNING!

Track this Report 0 Comment | Post a Comment