New York, NY – January 26, 2011 – (RealEstateRama) — Vince Ferrante, Tucson resident, is a single dad, responsible father and employee, native of Innsbruck, Austria adopted as an infant with his identical twin brother. He’s pretty disillusioned as an American citizen trying to meet his responsibilities because, for one year, he’s been the victim of a financial fraud scheme initiated by .
Paragon’s Managing Member is Brian Cutright. The LLC Articles were filed with the Arizona Corporation Commission in February, 2009. The LLC sent Ferrante a direct mail piece a year ago this month, offering its loan modification services.
In January, 2010, Ferrante made an appointment with Paragon and spent one day driving to Scottsdale from his Tucson home to meet with a representative of Paragon at the Perimeter Drive offices in Scottsdale. Paragon stipulated a Four Thousand ($4,000) Dollar retainer or Five Thousand ($5,000) Dollars to be financed for their services which would be refunded if the modification was not completed. Specifics of the firm’s services and guarantees are available for detail by discussion with this client. The Contract specifies a savings of five times the amount of the retainer over a five-year period, i.e., the case of Ferrante, a savings of $20,000, if Paragon was successful to arrange the modification.
The sad truth is has more than 45 complaints reported to the Better Business Bureau as of this writing, and Ferrante’s ongoing follow up attempts at communication have been unsuccessful. By July, 2010, phone calls to Ron Caron, designated Paragon’s representative, were ignored, not returned and a personal visit to the office was completed by a representative of Ferrante, who, subsequently, requested a formal refund for her client. The form was provided in person, executed by Ferrante, and hand delivered to Paragon on August 4, stipulating Paragon sign for receipt of same. Although the refund was to be provided within 45 days, to date, no monies have been received by Ferrante. Phone calls and inquiries have not been acknowledged by Paragon. On August 4, the office was painting over its Paragon company name in the lobby, and a photo was taken by Ferrante’s representative. Ferrante has this photo available upon request. Apparently, the new name for the company is Principal Reduction Group.
The matter has been reported to the Better Business Bureau and the Tucson office of the Attorney General for the State of Arizona. No further response has been received by the client except an acknowledgement of receipt of the BBB complaint.
In his State of the Union address last night, President Barack Obama stated: “…despite all these setbacks, (it is) that spirit of determination and optimism, that fundamental decency that has always been at the core of the American people, that lives on.” It is high time, in a distressed economy as well as a democratic society, for businesses to be held responsible for their warranties and just “do the right thing”. Only in this way will hope survive and progress be made to deal with our current challenges.
Media Note: The client, Vince Ferrante, can be reached by e-mail: Vinsin402 (at) yahoo (dot) com.
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34807 North 32nd Drive #1057
Phoenix, AZ 85086
e-mail: maureenherron (at) q (dot) com, maureenherron (at) gmail (dot) com