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Home > Ask The Get Out of Debt Experts > How Do I Get My Money Back From American Loans & Funding? – Phillip

How Do I Get My Money Back From American Loans & Funding? – Phillip

I am one of the 23 victims of a fraud committed by American Loans and Funding. I want to know if you can help me to recover my loss, or recommend an attorney who can handle my case with no upfront fee. I filed a complaint with FBI, BBB, LA Attorney General and CA DRE. Here is my story.

On 07/13/10 I applied for a pledged asset mortgage with American Loans and Funding for $1,170,000 at 4.15% 30 year fix. The loan specialist David Smith said I need to wire a deposit of $52,716.48 to show solvency to their investors. The money will be refunded within 3 months after close of escrow.

I wired the money from my Wells Fargo Bank to their Bank of America account on 07/30/10. Tavares & Associates did the appraisal on 08/06/10. Pickford Escrow Company sent the closing instruction on 09/09/10.

The escrow was never closed and funding was delayed again and again. I called David Smith and spoke to several people Jorge Ramirez, William Rivers, Loui s Sandoval and Rolando Wilson. They all gave me the run-around. On 02/22/11 the Co-founder Jorge Ramirez (213)8143165 called to assure that they are reputable and will fund my loan on 07/15/10. He said he will wire the interest owed on the deposit to my credit union but never did. On 04/22/11 he emailed me a notice of bankruptcy. Please call me at (510)6573669.

Can you call Jorge Ramirez to see if he will refund my money? If not Can you refer me to an attorney who will handle this case with no upfront fee?


I’m currently backed-up on answering questions so I’m posting some of the questions here for you to help answer.

This is your chance to be a hero and help out this person by providing your feedback and answer to the question in the comments section below.


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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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