I received a mailer from Damian Falcone and Co. that said, “Not one of my clients have claimed bankruptcy”. And “Over 70% of our clients achieve results in less than 4 months”. I was happy to hear he wasn’t pushing a short sale like so many others so called for a consult. Turned out he WAS however, selling access to a software that’s main function is tracking violations the bank makes via communications with the customers (The access to this software is $2000.00 every four months), and with those, he achieves sanctions and deals. I figured that the guy has to eat…right? And if it took a while to gather the violations, he would be put in a bad position. He was having technical issues so I was nice and allowed him to just print the info out for me periodically. It didn’t matter to me as long as he delivered on his promises. He was also to (per our agreement) help me with my credit as it effected my ability to achieve the best terms with the bank for my mortgage.
Damian told me that signing up with him meant I no longer had to worry about communicating with the loan servicer directly and I was a month from giving birth so I did Not want to deal with them. There were letters upon letters of principal reductions granted by various banks and several from my servicer adorning his walls. He had me convinced that he was the only one in all of Nevada that was specifically licensed to perform such a service-flashing a letter signed by a supreme court judge as proof.
About 1yr in I began questioning how long it had been without any movement with anything I had hired him to handle. He explained that he liked to keep his a caseload down to about 75 clients (that is a lot!) and that he usually allows for one phone call per four months from each client.
I received a formal letter (scanned and e-mailed) explaining that if I required more time, it would fall under his credit services that wasn’t covered in our agreement (I thought it was?!?? ) and that he would have to charge me $250.00 an hour if I required more attention. I understood what it was like to have clients that cannot understand the bigger picture –that don’t do my job every day like I do. Damian suggested that I find another person to help me.
I panicked! Worried that I had offended the only one in Nevada that could actually help me, and that I had already put about $8,000.00 into, I wrote a complementary and apologetic e-mail & my boyfriend gave him an advance in cash on the next payment -he took me back.
We figured that there was NO way someone as in our faces EVERYWHERE in social media, on the news, radio station etc… would be able to LIE about what he had done for people. He HAD to be SO good, he was overly confident and cocky. I figured I would take a little attitude if the payoff was my home.
I finally decided to let him go when he attempted to convince me that a short sale was a viable option after two years of zero results. When asked about the modification program ending combined with my expressed fear of not being enrolled beforehand, in turn having to fight the banks in court without him …ultimately being foreclosed on… His response was, “well, be happy you were able to live in your home for free for as long as you did”. That WAS NOT WHAT I HIRED HIM FOR. He had promised me his attorneys would go to court for me before I signed with him-assuming HE WOULD PAY. That was when what I had paid accumulated to $14,000.00 over 3yrs was to pay off.
Damian failed to get me a principal reduction. I never saw any sanctions while we were with his service. He failed to actually help me with ANY Credit accounts. His software wasn’t ever accessible (there was a corruption in his MySql database somewhere.). He bled me for two years with false promises of principal reductions. When I fired him on May 25th 2016, he tried to convince me that the “deal” the bank offered me met the terms of our agreement: one with my same payment, a balloon payment of $175,000.00 in ten years with ZERO principal reduction and never acknowledged my second. He is now a Real estate agent as well as a mortgage consultant for negotiating with the banks… Isn’t that a conflict of interest?
After more internet checking- in 2012 the Division of Mortgage Lending ordered him he to pay clients back in the past for this very same thing! – NRS 645F and A -collecting money from clients BEFORE he got them a principal reduction and he is STILL DOING It!!!?!
Consumer Action Taken:
I Followed your guide, “How to Try to Get a Refund From a Debt Relief Company” to a T. Or just about.
And in writing my firing letter He responded (or his Attorney Rather) said that he still assumed I was a client and still expected payment per our agreement. He also threatened me if I were to “Misrepresent the nature of our relationship” to anyone else. I followed up with a short and to the point letter asking once again for a refund of my money that touched on all of the “points” his paralegal wrote for him.
The Division of Mortgage Lending is doing an investigation and I am giving the Investigator everything I have including a voicemail where he is telling me my payment is “Not negotiable” . It is quite ridiculous.
Date This Problem Happened: April 14, 2014
State You Live in: Nevada
Age Range: 36-50
Total Amount of Fee Paid: Yes
Company Name: Damian Falcone & Co.
6425 W Sahara Ave Suite 280
Las Vegas, NV 89146
Company Telephone Number: 702-293-0926
Website of Company: damianfalcone.com
May 25, 2016 letter
We are unhappy with your services. You have agreed to work toward a mortgage modification with a principal reduction with current market values for my home. According to our agreement, I am to have access to your software (Never was able to log on due to a glitch) and you were supposed to be assisting me with cleaning up my credit with the hopes that the mortgage company finds me eligible for said modification.
You have failed to deliver in all three areas. What you have done for $14,000: You have made one phone call on my behalf in terms of my credit. You have put together “packages” that include my P & L’s and a couple of templates to the loan servicer to delay the foreclosure of my home. That is not what we have hired you to do. I agreed to your method given that you were to have your attorney’s take our case to court using the “violations” you mentioned that would also get us sanctions. It has been two years. We have received no sanctions, and recently you mentioned that we would have to pay your attorneys? That is not what we had agreed to. Between when we signed up with your program (March 2014) and the present, you have changed your stance, become a realtor, and (as I feared) have lost all interest in accomplishing our agreed upon outcome. That is, because, as you stated in our last face to face meeting: “I don’t need any more wins” when reminded how bad I need to “win” by owning my home and put this behind me. When questioned about this (going to court) you are elusive, talk in circles and are reluctant to move forward. The end result was to be (Allow me to refresh your memory as you never remember our case) accomplishing current market terms for my home and OWNING IT. We do not want to rent our home, and had expected you to at least attempt to move toward achieving this goal.
We have mentioned to you politely despite your rude walk outs and long introspective rambling boasts about how rich you are in meetings, for the past year and a half that the payment we were giving you was to be the last before a deal was settled. And you just kept delaying and delaying with one reason or another always showing the letters of the success you have had.
I received your message and let me explain: As the customer I make time for YOU and the following is “not up for debate”: I expect a refund of all monies paid to you ($14,000.00) to date. Payment is to be received by me no later than 6/9/2016. If we cannot come to a mutually agreeable solution, I plan to send a copy of my (detailed version) complaint to the following people/organizations:
The Consumer Financial Protection Bureau.
State Attorney General’s office.
Better Business Bureau.
Our local Consumer Affairs
The Federal Trade Commission. (Noting your 2012 case)
Any trade association your company may belong to.
News 3 Investigative Reports
Local radio Stations and in any other State you are licensed
Consumer Financial Protection Bureau.
United States Postal Service,
FBI and the National White Collar Crime Center
The Financial Fraud Enforcement Task Force.
Company Alleged Response
If you feel you’ve been financially hurt by a debt relief company and deserve a refund, read these step-by-step instructions on how to proceed to attempt to get your money back.
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