Complaint Review: Financial Funding LLC / CRE-Finance LLC (“FFLLC”) / Richard Tretsky Todd Tretsky-Robert SalmonTerri Galligan Ripoff Report Verified Safe™ …businesses you can trust. Commercial Real Estate Finance builds lasting relationships with clients by acting as lender advisor & partner to clients. Commercial Real Estate Finance's top priority is assisting clients in meeting financial goals. For over 10 years Commercial Real Estate Finance LLC assists commercial real estate clients meet investment obje

As all commercial lenders do, we charge application and appraisal fees. Our fees for the aforementioned are very reasonable. The application fee, as stated in each issued Letter of Intent, is the fee to run due diligence reports on the owning entity and sponsors of each loan request. The Letter of Intent lists all of the initial terms and conditions on the loan, as well as including a list of stipulations required for the loan. By executing the Letter of Intent and paying the application fee, you attest to the fact that you can provide the requested stipulations and fulfill the conditions required to obtain the loan. When Jonathan Bedard was questioned on discrepancies in his stipulations, his modus operandi was to ignore the questions he did not want to answer because he was caught in is attempt to defraud the lender. It was much easier to point the finger than to accept and own up to the fact that he was caught. Jonathan Bedard has issues with this trust and his credit among other things, and would rather pass the buck than admit his lack of experience. Based upon our due diligence, the real estate experience lies with the Trustee, Linda Innis and not Jonathan Bedard.

This loan was submitted using the collateral of 143 Burrill Street, Swampscott, MA 01907. It was represented that although the property is in the Paradise Trust, that Jonathan Bedard had the right to mortgage the property.

Paradise Trust certifies that Linda Innis is the sole Trustee of the Paradise Trust and will hold any and all property that may be conveyed to her under said trust. As trustee"…the trustee shall have full power and authority to sell, assign, transfer, mortgage or otherwise encumber or dispose of all or any part of the Trust property, and as a lessor or lessee to execute and deliver leases and subleases for any periods, including periods beyond the date of any possible terminations of the Trust, and to borrow money and execute and deliver notes or other evidence of such borrowing, and to grant or acquire rights or easements and enter into agreements or arrangements with respect to Trust property.

An attorney opinion letter was requested from Jonathan Bedard and we received one written by his brother. A letter providing a legal opinion issued by a relative is a conflict of interest.

Linda Innis is the trustee of 143 Burrill Street and the sole person with the authority to sponsor this loan.

The historical operating history of income and expenses for the Trust was presented showing large losses year over year.

Regardless of whether this is a hard money loan or not, you must show the ability to pay. Take the business losses coupled with personal credit card debt, and there is reason to further investigate to ensure all of the 5 C's of credit are met, especially capacity.

Documents presented does not show the ability to pay yet his remedy is to point the finger at the lender.

Jonathan also represented that he is the owner of many other properties and companies in the loan application. After further investigation, as with the Trust, he is not the trustee of the trusts, nor owners of the properties. He does, in fact, own other businesses.

Jonathan Bedard owns property on Columbia, ME only and is a resident of Maine.

Jonathan Bedard claims he was "strung along" when in reality, as his Letter of Intent states, we were doing our proper due diligence. He signed his Letter of Intent which states his application fee is non-refundable and also explicitly details what the application fee covers. Each report is listed in detail. He also signed an authorization for us to complete each report. The fact that the reports brought to light the misrepresentation of the application does not negate the fact that work was done on his loan application.

The allegation that this company and its employees and subsidiaries are running a scam to take upfront fees with no intention of making a loan is absolutely preposterous. Mr. Bedard was not forthright about his application by stating he could sponsor the properties. He is not the trustee of the trust and can in no way make a loan on the properties stated. He stated he owns other properties, which we now know are also owned in Trusts not controlled by him.

Each and every e-mail received and sent to Mr. Bedard is on file with our company, as every reputable company does. Mr. Bedard provided us with an e-mail address that would not receive e-mails. In addition to that, his numerous phone calls were always responded to within 24 hours of receipt.

Below you will find the county records showing instrument number, lot, block and book of two loans the company has funded in December, recorded in January, both in trusts. We have no issues lending funds to a property in a trust when the persons requesting the funds have the legal right to make the loan, which Jonathan Bedard did not.

http://oprs.co.monmouth.nj.us/Oprs/index.aspx

I am a victim as well

$37,000 loss

jessie@enterglobe.com