Legal Question in Business Law in Florida

Scammed by a lead company
I have been in the mortgage industry for over 10 years and have been buying my own leads for 6 years so I know what questions to ask before purchasing leads. I was contacted by a salesman from a mortgage lead company on Apr. 4,2006. The salesman gave me all the information about the leads--how and where they get them,how to return leads for credit,etc. I specifically asked if he was sure I would get enough leads with the ''filters' I wanted and he said ''definitely''. I told him I didn't want my money tied up while receiving 1 lead a week or something. He said I could expect 3-5/day and that they were phone verified and were downloaded on the website 4 times during the day beginning at 8 A.M. Since I needed the leads as soon as I could get them I agreed to go to the bank and wire him the money ($2100)for 105 cashout refinance leads with loan amounts over $200K from the 8 states my broker is approved in so that I could start receiving them that day. As of today, Apr. 26 there have been no refinance leads at all for anyone. Everything the salesman told me was a lie. No one will return my calls. I sent a certified letter to the CEO but no response. What is the best way to get my money back? This is not right.

Asked on 4/26/06, 1:19 am

2 Answers from Attorneys

Daniel Harrison Berger Harrison, APC

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Re: Scammed by a lead company

You don't really have many alternatives other than to sue or to walk away. Given the amount of the money at stake, you can take them to small claims. Lead companies aren't licensed, so there is no remedy through a licensing agency.

One very successful and cheap way to get money back is to have a lawyer draft a threatening letter. It is a lot more aggressive and meaningful than a letter from a victim. It means the victim has mobilized and is ready to sue (which the defendant knows will cost him/her a ton of cash in hiring a lawyer for themself).

Let me know if you would like us to help. Contact us anytime. By the way, I'm a licensed real estate broker and owner of a mortgage and real estate company.

Answered on 4/26/06, 11:53 am

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