ComplaintsforColorado Funding Group
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Complaint Details
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Initial Complaint
07/24/2023
- Complaint Type:
- Product Issues
- Status:
- BBB unable to locate business
We were contacted by this business in order to help us rent out a vacation rental. Joshua Z. M***** was the primary point of contact and suggested that we owed maintenance/tax funds which we ended up wiring for our property at Vidanta, Jalisco. All in all, we were charged $18,000 by a business that does not exist.Initial Complaint
07/05/2022
- Complaint Type:
- Order Issues
- Status:
- BBB unable to locate business
On December 7, 2021 a Lease Offer was signed with Vacation Quarters (based in Minnesota) for the lease of one-week of a 4-bedroom unit at the VIDANTA Estates in Jalisco, Mexico. Colorado Funding (base in Denver, CO) was the designated escrow agent for this transaction. On December 13, 2021 an Agreement for Guarantee of Rental was also signed. The Offer and Agreement stipulated an agreed upon rental amount of $62,552.00. The lease agreement stipulated a 10% commission ($6,255.20) was to be paid at the time of closing. No other payment advances are stipulated in the agreement. Over the period of December 23, 2021 to April 21, 2022 we have transmitted $50,023.72 in funds for this transaction at the direction of Colorado Funding with no dispersement of funds in accordance with the signed agreements. On May 4, 2022, Vacation Quarters and Colorado Funding demanded payment of an additional $28,700.00 for an Amparo to provide us with “legal protection” in Mexico. To date we have not paid this additional amount given the unfulfilled commitments that have occurred in this transaction to date. No funds have been dispersed and the matter remains open. Vacation Quarters has threatened legal action in this matter. We discovered today that a cease and desist order was issued on April 27, 2022 against Vacation Quarters by the Minnesota Department of Commerce for engaging in fraud and misrepresentation in connection with brokering timeshare and real estate.Initial Complaint
03/22/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- BBB unable to locate business
Andrew ***** ****** reached out to me as the closing agent on a rental agreement of my timeshare. He even emailed me a closing date on my contract, set up a trust account, and worked with ******* ***** of Vacation Quarters to have me wire $11,200 to a Mexician account to cover my "maintenance fees" as part of the agreement. Now the phone number for Colorado Funding Group no longer works and no one is getting back to me. I would like full reimbursement of my maintenance fees. I have submitted the same complaint against Vacation Quarters.
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BBB Rating & Accreditation
This business is not BBB Accredited
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Customer Complaints Summary
3 total complaints in the last 3 years.
0 complaints closed in the last 12 months.