This guy sounded alright and then next thing I knew David Simmons was taking all my money from my cards - what a scam artist!
After the crook took my money I called the Department of Justice in Sacramento and they told me he was NOT even licensed and also that he has a lenghty criminal histry including battery assault and harrassment.
Be careful ppl ans stay away from this guy. He's currenty under investigation so don't get caught up with his taps foar any reason just tstay away
I engaged with this company to pursue a hard money loan to close a real estate deal. I was issued a letter of intent to engage and close the loan by the employee James Mitchell. Everything was "no problem", "we have you handled", "your good", "we're scheduled to close", "we have everything we need"....And the list goes on about every possible promising scenario you could possibly imagine. With all of these encouraging words you are led to believe that the financing is going smoothly and scheduled to close on scheduled just as promised....But wait here's where the game starts...3 appraisals later, and 3 BPO's later and you still are not closed but you Will repeatedly be promised that everything's going great and that they're just securing some extra financing behind the scenes to ensure that there's no problems… But wait there's more!
The salesmanship here is at such a fine level of making you feel so comfortable that they lock you up so you don't pursue other financing and then all of a sudden when you're supposed to close escrow there's another hitch…The owner of the company Dave Simmons calls me with a sweet story about how the cost of the loan has increased then we decided to talk about it the next day…An increase in points and an increase in loan percentage from 8% to 11% and a 10% drop in LTV. So with all of these things said and blaming it on corona I worked out a special deal with my seller and I brought it back to present to this company and the lender supposedly approved the deal and I was given the word that we were a go.
This Company contacted my realtor who they gave the thumbs up authority to proceed with the deal and the loan terms were fine and on track to be funded. The next thing I know I get an introduction To another brokerage firm that wants me to pay for yet another BPO And start the paperwork all over again after I submitted it about five times prior. A couple hours later I receive an email from the brokerage firm that was hired by silverback to procure my loan and they told me that they had to decline my deal because of the corona issue that killed many lenders in the industry.
Silverback capital did not even know that this email existed And could've cared less by telling me that nobody else could've funded my deal anyway but locked me up for 30 days and prevented me from procuring another lender or loan product. Instead of allowing me to procure funding they basically said oh well at least we have our friends family and our health And made everything sound like they did their best and it was nice.
I'm here to tell you that this experience was miserable stay away from these guys they are a level of con artist that is very big and i believe based on my experience that it is an operation designed For you to pay appraisal fees and BPO fees so they can make an income without even providing any sort of financing I would not pay anything upfront for these clowns as I have nothing but paperwork and no loan products. Stay away from Dave Simmons and Silverback Capital
Silverback Capital Reviews
Dave Simmons took all my money!
This guy sounded alright and then next thing I knew David Simmons was taking all my money from my cards - what a scam artist!
After the crook took my money I called the Department of Justice in Sacramento and they told me he was NOT even licensed and also that he has a lenghty criminal histry including battery assault and harrassment.
Be careful ppl ans stay away from this guy. He's currenty under investigation so don't get caught up with his taps foar any reason just tstay away
I engaged with this company to pursue a hard money loan to close a real estate deal. I was issued a letter of intent to engage and close the loan by the employee James Mitchell. Everything was "no problem", "we have you handled", "your good", "we're scheduled to close", "we have everything we need"....And the list goes on about every possible promising scenario you could possibly imagine. With all of these encouraging words you are led to believe that the financing is going smoothly and scheduled to close on scheduled just as promised....But wait here's where the game starts...3 appraisals later, and 3 BPO's later and you still are not closed but you Will repeatedly be promised that everything's going great and that they're just securing some extra financing behind the scenes to ensure that there's no problems… But wait there's more!
The salesmanship here is at such a fine level of making you feel so comfortable that they lock you up so you don't pursue other financing and then all of a sudden when you're supposed to close escrow there's another hitch…The owner of the company Dave Simmons calls me with a sweet story about how the cost of the loan has increased then we decided to talk about it the next day…An increase in points and an increase in loan percentage from 8% to 11% and a 10% drop in LTV. So with all of these things said and blaming it on corona I worked out a special deal with my seller and I brought it back to present to this company and the lender supposedly approved the deal and I was given the word that we were a go.
This Company contacted my realtor who they gave the thumbs up authority to proceed with the deal and the loan terms were fine and on track to be funded. The next thing I know I get an introduction To another brokerage firm that wants me to pay for yet another BPO And start the paperwork all over again after I submitted it about five times prior. A couple hours later I receive an email from the brokerage firm that was hired by silverback to procure my loan and they told me that they had to decline my deal because of the corona issue that killed many lenders in the industry.
Silverback capital did not even know that this email existed And could've cared less by telling me that nobody else could've funded my deal anyway but locked me up for 30 days and prevented me from procuring another lender or loan product. Instead of allowing me to procure funding they basically said oh well at least we have our friends family and our health And made everything sound like they did their best and it was nice.
I'm here to tell you that this experience was miserable stay away from these guys they are a level of con artist that is very big and i believe based on my experience that it is an operation designed For you to pay appraisal fees and BPO fees so they can make an income without even providing any sort of financing I would not pay anything upfront for these clowns as I have nothing but paperwork and no loan products. Stay away from Dave Simmons and Silverback Capital