Consumer reviews and reports on scam companies, bad products and services
Tap Commercial
Tap Commercial Equity Warehouse, Hard Money Placement Fee collectors posing as lenders. Internet
4th of Jul, 2011 by User571625
I am a business loan broker and have had clients needing funding who went through Hard Money Placement and were ripped off with "due dilligence" fees and never funded. I would never recommend anyone do business with Hard Money Placement...they are crooks. This brings me to Tap Commercial and Equity Warehouse. During the process of trying to obtain funding for a client, I was contacted by Tap Commercial through an internet forum and they said they were interested in funding the loan I was trying to place, so we began to converse and I gave them details about the deal. Well, my client got a little suspicious and must have googled the phone number that was on the Tap Commercial website and found another website with the EXACT same verbiage and the EXACT same phone number. The other website was for Equity Warehouse. This made me suspicious, so I did some research and found that the owner of the Equity Warehouse domain was HARD MONEY PLACEMENT! When I confronted Tap Commercial about this, they suggested someone had hijacked their web layout...etc. Then they offered to waive the upfront fee for two of the three deals we had discussed funding for...so I continued to work with them. Well as you might expect, once the client for the original loan (that they couldn't waive the fee for) backed out of the deal, Tap Commercial became completely unresponsive about the other deals that they offered to waive the fee for. So, my advice to anyone, would be to stay away from Tap Commercial, Equity Warehouse or Hard Money Placement as I suspect they are all part of the same crooked scheme.
Comments
3281 days ago by Kim Jau
I am a junior partner with Tap Commercial, Inc. The complainer listed above here is the very company that was pirating our materials and trying to pass themselves off as lenders. We caught them and filed a civil case against them. This complaint is just an attempt at revenge. Anyone that has dealt with our company knows that we have a great reputation. Also, we provide references of customers who have recently closed loans with our company to any borrower/broker who asks.
3264 days ago by Mean Jean
i have no affliation with anyone but Tap who promised funding thru a lOI and LOC and offered to get the funding done quicker and with less docs on an equity only 70 to 75% LTV of a commercial building with a good business in it and good borrowers who had assumed someone else's loan and had an opportunity to make a savings if they could refi and cash the old lender out...Tap took money, claiming they had a lender and would be applied to fees of loan... never heard from them again...money was guaranteed to be for site inspection and due didligence ...they never had a lender...they immediately started shopping to other mortgage companies who called the current lender to try and get money to pay off their own loan...ha...tap took money under false pretenses...i have asked for a refund and we would have gone away. but i guess you have too many and you chose to ignore all...fraud is fraud... we are referring this to the AG and to the licensing department in the state...mean jean
3264 days ago by Mean Jean
i would like to talk to a senior partner with tap adn find out who is really behind this...they are addressed in neveada work out of washington and have their money sent to california..mean jean
3261 days ago by Anonymous
“Mean Jean” is Jean Collins of Whatcom County Washington and she is not the broker of record on this file. She in fact, stole the loan from another broker and convinced that borrower that she was his broker. Normally, I don’t get involved in broker squabbles, but she has been such a menace that I must respond. She has been so bad that the borrower has even asked her to stop harassing Tap and all the parties involved. I have that email and will post it if necessary.
Everything in her posting here has been fabricated. The loan is in fact going to fund. It was delayed to get one more month of positive Profit and Loss out of the business and we are cleared to fund.
She is now ranting because she thinks that we won’t pay her requested fee. Typically, we protect the broker but in this case, we have proof that she stole this loan. Tap Commercial will not honor this sort of conduct. The borrower will have to decide whether or not to pay her. The broker of record (the one who brought the loan to Tap) will in fact be paid out of closing proceeds.
Additionally, she is involved in numerous lawsuits with former partners, developers and many former colleagues.
3261 days ago by Anonymous
“Mean Jean” is Jean Collins of Whatcom County Washington and she is not the broker of record on this file. She in fact, stole the loan from another broker and convinced that borrower that she was his broker. Normally, I don’t get involved in broker squabbles, but she has been such a menace that I must respond. She has been so bad that the borrower has even asked her to stop harassing Tap and all the parties involved. I have that email and will post it if necessary.
Everything in her posting here has been fabricated. The loan is in fact going to fund. It was delayed to get one more month of positive Profit and Loss out of the business and we are cleared to fund.
She is now ranting because she thinks that we won’t pay her requested fee. Typically, we protect the broker but in this case, we have proof that she stole this loan. Tap Commercial will not honor this sort of conduct. The borrower will have to decide whether or not to pay her. The broker of record (the one who brought the loan to Tap) will in fact be paid out of closing proceeds.
Additionally, she is involved in numerous lawsuits with former partners, developers and many former colleagues.
3247 days ago by Mean Jean
hot shot anderson should put his money where his mouth is...if he is doing all the loans he claims, then no one would be talking about him...and if he is making as much money as he claims, he should give the money back to the poor unsuspecting companies that trusted him...
sticks and stones, i am not getting anything from his company...i just took over this at request of owners to finish what the person that got fired from company started who btw supposedly cked the Tap company out and said they were legit...go figure
3247 days ago by Mean Jean
and btw the numerous lawsuits with my partner is not my doing and it is only 1...it was my husbands partner who is trying to take over a $4mm investment of ours and i think that in anyone's book would be worth fighting for...at least its my own property i am fighting for and not taking someone else's money...
3162 days ago by Realfunco
Any information on Tapco would be helpful.
3162 days ago by Realfunco
Any info on Tapco would be helpful
3092 days ago by Lbccapital
All that Tap does is lie. From Tim Anderson to Mike Conner to Johnathan, nothing but lies.
2987 days ago by Jeffrey Starks
I have sent several deals there and I can not believe the BS! I just don't get it! I guess they see a ton of deals and fund like 2 a month. STAY AWAY from these clowns they must be partners with the one inspector because every deal is sent to Thomas Kline in Ga 770-281-8809. This is a joke too, this guy has an answering service and try to get him on the phone yea right! Wait here is the web site for the inspector that was sent from Tap Commercial www.commercialcapitalverfication.com GUESS What it does not exist! I have a friend in the FBI They will be contacting both companies. SCAM SCAM SCAM!!! Run Run Run! Also try to call Tap Commercial on there toll free number no one will answer the phone ever (866)-225-3581
2938 days ago by Lisawille
Tap Commercial will take money from you and not deliver...They are crooks, period. As far as I am concern they all need to be put in jail and throw the key away.

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