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Product: Mortgage

Company: Gaurav Kumar

Location: 199 Advance Blvd., Ste. 212,
BRAMPTON, ON, L6T 4N2, CA

URL: http://www.gauravmortgages.com

Category: Real Estate

Mr Gaurav Kumar Cell# 647-409-7501 is a mortgage agent who works with Financial Ties Inc. Brampton. He introduces himself as mortgage broker whereas he is only an agent (Make Sure to check if that is true or not). He is blacklisted in most of the banks and financial institution because of his fraudulent activities and high volume of consumer complaints against him. He still manages to operate his business by forwarding his deals to other corrupt mortgage brokers/agents by keeping his cut. He is blacklisted in most of the Real Estate offices like REMAX, Century21, Homelife etc. His regular business tool to trap new and naive home owners is through placing free classified ads on KIJIJI and Craigslist etc. He would offer loan consolidation services by way of refinancing, 2nd mortgage or credit lines. He will charge about 1% for refinancing and up to 10 to 15% for a 2nd mortgage. He would promise you numerous cash backs and rebates at closing of the transaction but nothing like that will ever happen. Without your knowledge saying "Don?t worry I will get it approved" he would create all false documents e.g. Pay Stubs, Job Letters, Bank Statements and even Govt. Documents, leaving you with all this mess and even a possible legal law suit. He owe?s money to numerous people which he never pays back. Beware and stay away from him and his office, the whole office is corrupt and is famous for such activities. My husband and I got bit by this guy and just wish if he done some research on this ba@$&%*

We recently needed some money to pay off debt and found Mr. Gaurav on Kijiji, at first Mr Gaurav acted very professional, informative and a sweet chap, he convinced us to refinance our home, he said his fees will be 1% of the new mortgage, he said just sit back and relax I will arrange everything, He wanted half of the amount upfront which we refused to give. He started asking for money, first the office processing fee then appraisal fee, then Job letter and pay stub fee, to this my husband why are u charging us for this fee when I can give u my job letter and pay stubs he said no those won?t work let me handle. after one month of agony Mr Gaurav said I tried all the banks but you won?t get refinancing so only choice we have is to take 2nd mortgage, we didn?t want to go ahead but we had already invested money and he wouldn?t give us the appraisal report and refund any office fees, so reluctantly we went along, by this time my husband started inquiring about him and to our surprise who ever we asked mostly real estate agents they all said he is black listed why did u go with him, we were devastated but could not do anything. in about 2 or 3 days Mr Gaurav brought bunch of papers and said congratulations your 2nd mortgage has been approved, and asked us to sign the documents he didn?t want us to read and started getting agitated when we started asking questions especially when we got concerned with 12.5% processing fee and 15% interest rate, He said don?t worry right now take it and before closing I will reduce the fees to 8% and Interest rate to 10%. By this time we were desperate and really needed money, so upon his assurances we agreed and signed the papers. On closing day he said I can?t do anything about the interest rate it will remain 15% but the processing fee has been adjusted but the office rule is that they will only refund it to me and right after closing you can come to my office and I will give you the cheque. He completely took advantage of our situation and had us totally in control. Since then it?s about four months Mr. Gaurav has not given any money and now doesn?t even pick up our phone calls.

We have reported the whole matter to FICO and have formally complained, but everyone tells us we won?t get anything out of this, and that this is the normal practice of people like Gaurav Kumar.

Please beware