I have had a very bad situation with two sellers that are not real. They are June Cox of Lifeway Capital and Ivy Zhao of USA Investments.

I feel that June has caused me to lose some very good clients as she, in my opinion, is not legit and actually it is my understanding that there is litigation against her for fraud, etc.

Allegedly:

(a) June caused an escrow company to lose their license and their business.

(b) Ivy has been working with her and others and has clients going into escrow for product that may not be available and put up a non-refundable deposit in one escrow and then if it doesn't close with another escrow, she still gets her money.

(c) June has you put a non-refundable deposit and you lose if you can't close it because she doesn't own it or even have a contract on most of the properties.

If you ever see anything from either of these people or companies, run the other way, delete it and go on to your next deal.

Lynne

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Comment by charles lee on February 19, 2011 at 8:20pm
Lynne   you are 100% Right..  June Cox of Lifeway did, cause an escrow company in trouble and got an ecsrow officer in hot water.... By the way the so called REO TAPE she opened last November is still opned and has a long way to go before it closes
Comment by charles lee on January 30, 2011 at 6:19pm

Can i ask how you were involed in this deal..... because i know of this deal...

 

when you get a chance call me.... 714-356-4829   If you have buyers that are in need of properties here in southen cali give me a call.. and no these tapes will not be coming from june cox nor lifeway capitol group....

Comment by Lynne Spencer on January 30, 2011 at 6:06pm
Yes to everything.  Don't trust Ivy either.
Comment by charles lee on January 30, 2011 at 5:59pm

Lynne

 

I think I know what your talking about!  Is the deal your talking about have to do with about 8 properties here in southern Cali where Ivy assigned the properties to some else. I know of a case know where th is same deal cant close and its been well over 2 months because they are waiting on funds from june to get these closed... june is trying to sell home before she buys them....  it looks like she i doing a double escrow or maybe a triple escrow

Comment by Lynne Spencer on January 25, 2011 at 9:54pm
No, it is not legal in CA.  You need to look up the litigation on her.
Comment by charles lee on January 25, 2011 at 9:52pm
Lynne  is the escrow company that closed down, is that in hermosa beach ca? Can i ask u where is gettin sued at? because i personally know the people bought some product and are in a jam now,  I guess Ivy assigned to some other broker and now everyone is in hot water beacuse of June. I know for a fact now that june dose not own the property  she sells, she requested money to be released during escrow so shen can buy them aqnd resale them.... wait is this legal in cali
Comment by Lynne Spencer on January 25, 2011 at 9:43pm
You are right.  She not only does not own the properties, but she does not hold any contracts on them.
Comment by charles lee on January 25, 2011 at 9:38pm
sorry my english is bad... I heard that June cox has open srf bulk sale that has been going on for almost 3 months and can not close because sellers took out funds to buy other properties june does not the properties she tried to close also she is doing double escrow i think
Comment by charles lee on January 25, 2011 at 9:34pm

Great info do you were there the litigation against her for fraud is at with who... i do hear there is an open bulk sale for only 8 homes that going on 3 months that close because june dont hold title and money ran out

Comment by Magda Vandenbussche Knop on January 25, 2011 at 8:09am

Thanks Lynne. Always good to have the information!

Magda

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