I had received an email of an offer of a loan regardless of credit for 2.5% interest. I emailed them back asking where their company was located & if they had a website. A mr. John cooper emailed me bk & gave me the website of alphaloan.Org & advised to check out the website; fill out the application and they would get bk to me. I did a google search to see if any fraud alerts came bk on mr cooper or on alpha loan & nothing came bk. I checked out their website & emailed them bk that on their website it only listed loans for 2.5 yrs & that we were interested in purchasing a home & would need a loan for 30 yrs & explained our situation & asked if they would be able to help us with the real estate mortgate under the circumstances. I received another email asking for full name, address, amt of loan; duration of loan & phone number. I forwarded the information. Mr cooper called me abt the loan but i had a very hard time understanding him; cell ph was echoing back. I did hear him say that it would be for a term of 6 yrs. I explained again that i needed 30 yr term & that we had bad connection. We then started conversing thru text messages. He advised we could get the loan for 30 yrs. I had told him we would need between $150,000 – $230,000. He said we would have to pay $1,000 for a bond and that it could not be taken from the loan amt & that 48 hrs after paying the $1,000 we would have the money deposited into our acct. We were emailed a loan agreement & confidentiality agreement which we signed & returned. The name gary adler appears on the loan paper as manager for alpha loan but i never spoke with him. The loan papers were made out for $260,000 with a 3% interest rate to be repaid @ $780 a mo for 360 mos and was signed on 4/15/15. Agreement was that we would deposit into their wells fargo acct that they gave us the acct name & nbr for & then they would forward our loan money approx 48 hrs after that. We drove to tn on april 13 & deposited the funds as per the agreement & they would deposit the funds into our bank acct. I asked if there would be a problem with them depositing the funds into our acct since it was not a well known bank, just a small ky bank & was told there would not be. Then on april 15 mr cooper texted me and said their acct team just got bk to him & said funds cant be transferred into the account we provided. I asked why not & he didnt answer. He said he would give me a bank that alpha loan works with & we could open up a new acct with them that they dont want to wire funds and start having issues. I asked if it was a bank that we could drive to & he said yes. I asked if we would need to drive there to open acct & he said no & sent me the website to open the acct of mainstreamcorporation.Org. I told him that was a new one on me that in past when we’ve opened an acct we always had to go in to open and make deposit. I told him my husband, jim, wanted to go over to the bank in person to open the acct but that it wouldnt let me open the tab with the locations on it. Then he told me that their headquarters were in switzerland & wtd to know if i wtd assistance with opening it. I told him they would still have to wire funds so what was the difference using that bank or our current bank and he said because they were having issues to wire from there to that was the perfect way. That if we opened with mainstream it would be in our name and easier to transfer from one of our acct to another. I asked abt driving to his location & picking up the money; he said they don’t do cash. I told him we werent comfortable dealing with a foreign bank; he said they have us base too. He offered to write check; i offered to drive back to wells fargo & open acct; he told me to make up my mind. I told him when we started this process we were supposed to have funds transferred into our acct if we furnished our acct nbr & that we had done everything that was requested of us. He said he told me they had problems middle way; then next text said i will direct them to effect the transfer. I asked when we could expect the funds. Then on april 16 mr cooper text me said the bank was requesting a transfer fee and would not deduct from funds they’re transferring. I asked if it was our bank and he said no, sending bank. I asked how much he said $1200 for the total sum of $260,000. I told him no, it was smelling more like a scam every day that was not part of the original agreement that he could shred the contract and return our $1,000 since it was not used for a bond as stated. He said okay if that is what you want. You want them to transfer funds without charges or what? I told him if it was legitimate he wouldn’t have asked for more $ he would’ve transferred funds into our acct per the original agreement. He said it was request from bank had nothing to do with him that he suggested check & i declined & asked what i wtd him to do? I told him a bad check is no good either; if it was legitimate & not a scam transaction would’ve went just as he stated but since it was scam he was asking for more $. If legitimate he would’ve known up front if there were fees to send the $ & i would’ve like for him to do what he said to start with. He said that’s what he’s doing once i make up my mind to write him. I told him he wasnt doing was originally agreed. After we pd the $1,000 we were supposed to get proof that it was used for the bond & a letter of pre-approval neither of which we got. Then he wtd us to open acct w/a foreign bank after telling me we could drive to the bank & then him telling me he needed another $1200. He stated the letter was not a problem he told me the problems. I again told him if this was legitimate he would’ve known from the start if there were more fees that we pd what we were supposed to pay & that we didn’t have any more money. He stated okay. Then on april 17th he said the bank contacted him today; i said “and?” no response. I then typed “??” still no response; never heard any more from him. We have the receipt from wells fargo where we deposited the money into the acct he told me to deposit the funds in. Wells fargo didn’t ask for our name. We are in desperate need of a house & had hoped that this was legitimate so we took our last $1,000 to complete this transaction in the hopes that it would be on the up and up. I know know why they wanted a confidential agreement. However, i don’t feel like they lived up to any part of their agreement so we want other people to know abt this company & these people so hopefully they won’t be taken.
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