Just thought I'd give an update on William Hogarty and OF Lending.....
The DRE has filed a complaint against both William Hogarty personally and against his company, OF Lending, and is seeking to revoke both licenses because of his "short refinance" and loan modification programs. You'll want to read this before you consider paying him or his company to do any sort of work for you, including his newest credit repair program http://(www.newcreditrx.com
). You should also contact me if you have already paid his company for loan modification or short pay services, even if you got a partial refund. My email address is firstname.lastname@example.org. I have told Mr. Hogarty directly that I would stop posting on blogs if he would tell the truth and refund all the money he has taken. Unfortunately he doesn't want to do either so here I am.
Here's what the DRE complaint says:
- Failed to properly deposit customers' trust funds into a nuetral bank account. He took hundreds of thousands of dollars in for his modification and short pay scams and was to have deposited 75% of what he received into a trust account. Well, he didn't. He did pay for his mansion, yacht and even bought a brand new car though.
- Gave an unlicensed person access to "trust" funds. Funds that weren't there.
- Accepted advance fees for loan modification services when it was unlawful to do so.
- Failed to provide trust accounting records as required to those clients that were supposed to have funds held in his trust account.
- Failed to properly disclose fees to his borrower.
- Didn't properly supervise his agents.
Many people are trying to get their money back, but he ultimately gives only a partical refund. Please contact me if you have paid this man or company for short pay refinance or loan modification services. I need to refer you to the appropriate people.