Anyone Heard of EASTWIND FINANCIAL INC - Timeshare Users Group Online Community Forums

Darren · March 24, 2008, 02:10 AM

I have recently noticed a lot of Ebay auctions for TS's where the seller states that "Closing and escrow to be handled by EASTWIND FINANCIAL INC., a licensed, bonded, and fully insured Escrow & Title company of Los Angeles, California."

Although it doesn't look like a hyperlink, when you click on their link, you are directed to Timeshare Closing Services Inc.

I have read several posts (good and bad) about Timeshare Closing Services Inc. here, so I know they are a legit company.

The Ebay auctions also refer you to contact them "with questions about closing at *number removed*."

Obviously they are related but how does Timeshare Closing Services Inc. fit into the picture?

Also of note is that the Ebay members that are doing the selling have little or no prior timeshare sales listed in their feedback. They usually have close to 100% feedback with hundreds of past sales for smaller items and have been members for years.

Any ideas what id going on with the hyperlink connecting to Timeshare Closing Services Inc.

Thanks,
Darren

JMAESD84 · March 24, 2008, 04:28 AM

Quote:

Originally Posted by Darren

I have recently noticed a lot of Ebay auctions for TS's where the seller states that "Closing and escrow to be handled by EASTWIND FINANCIAL INC., a licensed, bonded, and fully insured Escrow & Title company of Los Angeles, California."

Although it doesn't look like a hyperlink, when you click on their link, you are directed to Timeshare Closing Services Inc.

I have read several posts (good and bad) about Timeshare Closing Services Inc. here, so I know they are a legit company.

The Ebay auctions also refer you to contact them "with questions about closing at *number removed*."

Obviously they are related but how does Timeshare Closing Services Inc. fit into the picture?

Also of note is that the Ebay members that are doing the selling have little or no prior timeshare sales listed in their feedback. They usually have close to 100% feedback with hundreds of past sales for smaller items and have been members for years.

Any ideas what id going on with the hyperlink connecting to Timeshare Closing Services Inc.

Thanks,
Darren

Just speculating here.

These new sellers might have lifted (copy and pasted) ads from eBay's largest timeshare reseller VIN, edited the ad for their purposes (including changing the closing company) but didn't realize the hyperlink existed to TCS.

Darren · March 24, 2008, 11:22 AM

I was kind of thinking that they may be unaware of the link also. I was even hesitant to mention it because I didn't want to tip then off.

If you are correct, I'm even more leery about this because it eliminates the one company that I knew was legit.

johnmfaeth · March 24, 2008, 04:26 PM

Yes,

This seller has definitely cloned the ad format of Vacation Innovations which closes through TCS.

What is also great is that the current auctions are this person's new beginning in the timeshare sales arena. He also has $12 face cream for auction. If one looks at his feedback, he is also a successful seller of the Guitar Hero Video Game (well at least one copy).

I have never heard of Eastwind and none of this is a negative per se, just a VERY loud warning bell to proceed with extreme caution.

ajlm33 · March 24, 2008, 05:22 PM

Quote:

Originally Posted by Darren

I have recently noticed a lot of Ebay auctions for TS's where the seller states that "Closing and escrow to be handled by EASTWIND FINANCIAL INC., a licensed, bonded, and fully insured Escrow & Title company of Los Angeles, California."

I work for a Title insurance company in Los Angeles County and to the best of my knowledge no one by the name of "EASTWIND FINANCIAL INC." is licensed to do title business in LA County or in the state of California for that matter. Looks like a buyer beware situation to me.....

Darren · March 24, 2008, 06:16 PM

Yep, I did some checking today, this is definitely a shady looking outfit.

I contacted the California Department of Real Estate. They do not have any record of issuing a license to Eastwind Timeshare Inc.

I also contacted the California Department of Corporations. They have no record of an escrow company names Eastwind Financial Inc.

Both govt. departments were very helpful and friendly; excellent service.

A google search of either name turns up almost nothing except a Withdrawal of HUD/FHA Title I lender approval and Title II mortgagee approval for Eastwind Financial from 2003.

A 411 reverse phone search of the contact number in the ad links to a number in Pasadena, CA.

Now, for a crazy question ... as shady as this all seems, if the seller is willing to let me use the escrow sevice of my choice, and I get a great deal, am I really risking anything. I know enough to go over the contract extremely carefully. If everything checks out and I have used a reputable escrow, am I really risking anything?

Thanks,
Darren

johnmfaeth · March 24, 2008, 06:33 PM

The idea of escrow is to prevent EITHER party from having risk during the transaction.

The seller is guaranteed clear funds are waiting for them, and the buyer is guaranteed that those funds will only be released when the transaction is successfully completed.

Make sure that escrow funds are maintained in a separate account at an insured bank. If the escrow company just comingles with their own corporate funds, you are an unsecured creditor if they go bankrupt.

sachs1999 · March 25, 2008, 02:29 PM

do not buy form this seller, i too purchased from him. In looking into it further another reputable ts seller sold the same unit, deed everything a few weeks ago. The paypal info is for him personally and the closing company does not exist. When I called him on it he no longer rpelied to emails,

Darren · March 25, 2008, 09:38 PM

Hey sachs1999, did you buy club de soleil on Mar 20th from this guy?

This guy, mforcex91801, just sold another timeshare for $1,370.00 today (Item number: 120236900455 on Ebay).

I reported my findings about the timeshare company and escrow service to Ebay yesterday and they still allowed the auction to go through today.

Darren · March 25, 2008, 09:45 PM

sachs1999, if you got ripped off, here is a link to the Internet Crime Complaint Center: http://www.ic3.gov/

I'd love to warn the people who bought from this guy today but the bidder's ID's are privare. Another huge red flag.

sachs1999 · March 25, 2008, 10:40 PM

Darren, I actually purchased from a different user id than this but I have learned it is the same person, I too reported to ebay but they dont care. I did not pay anything for the vistana unit I purchased, hopefully he didnt take a fellow canadian for any of our loonies, haha.

Darren · March 26, 2008, 10:28 AM

lol, yea, now that the loonie is worth something again.

March 24, 2008, 02:10 AM	#1
Darren Guest BBS Reg. Date: Mar 24, 08 Location: BC, Canada Posts: 22	Anyone Heard of EASTWIND FINANCIAL INC I have recently noticed a lot of Ebay auctions for TS's where the seller states that "Closing and escrow to be handled by EASTWIND FINANCIAL INC., a licensed, bonded, and fully insured Escrow & Title company of Los Angeles, California." Although it doesn't look like a hyperlink, when you click on their link, you are directed to Timeshare Closing Services Inc. I have read several posts (good and bad) about Timeshare Closing Services Inc. here, so I know they are a legit company. The Ebay auctions also refer you to contact them "with questions about closing at number removed." Obviously they are related but how does Timeshare Closing Services Inc. fit into the picture? Also of note is that the Ebay members that are doing the selling have little or no prior timeshare sales listed in their feedback. They usually have close to 100% feedback with hundreds of past sales for smaller items and have been members for years. Any ideas what id going on with the hyperlink connecting to Timeshare Closing Services Inc. Thanks, Darren Last edited by TUGBrian : March 24, 2008 at 02:32 AM. Reason: edited to remove bold and capitalized repititions of company name which could be construed as trolling/seo type activity

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March 24, 2008, 11:22 AM	#3
Darren Guest BBS Reg. Date: Mar 24, 08 Location: BC, Canada Posts: 22	I was kind of thinking that they may be unaware of the link also. I was even hesitant to mention it because I didn't want to tip then off. If you are correct, I'm even more leery about this because it eliminates the one company that I knew was legit.

March 24, 2008, 04:26 PM	#4
johnmfaeth TUG Member BBS Reg. Date: Oct 7, 06 Location: Northeast PA Posts: 2,601	Yes, This seller has definitely cloned the ad format of Vacation Innovations which closes through TCS. What is also great is that the current auctions are this person's new beginning in the timeshare sales arena. He also has $12 face cream for auction. If one looks at his feedback, he is also a successful seller of the Guitar Hero Video Game (well at least one copy). I have never heard of Eastwind and none of this is a negative per se, just a VERY loud warning bell to proceed with extreme caution.

March 24, 2008, 06:16 PM	#6
Darren Guest BBS Reg. Date: Mar 24, 08 Location: BC, Canada Posts: 22	Yep, I did some checking today, this is definitely a shady looking outfit. I contacted the California Department of Real Estate. They do not have any record of issuing a license to Eastwind Timeshare Inc. I also contacted the California Department of Corporations. They have no record of an escrow company names Eastwind Financial Inc. Both govt. departments were very helpful and friendly; excellent service. A google search of either name turns up almost nothing except a Withdrawal of HUD/FHA Title I lender approval and Title II mortgagee approval for Eastwind Financial from 2003. A 411 reverse phone search of the contact number in the ad links to a number in Pasadena, CA. Now, for a crazy question ... as shady as this all seems, if the seller is willing to let me use the escrow sevice of my choice, and I get a great deal, am I really risking anything. I know enough to go over the contract extremely carefully. If everything checks out and I have used a reputable escrow, am I really risking anything? Thanks, Darren

March 24, 2008, 06:33 PM	#7
johnmfaeth TUG Member BBS Reg. Date: Oct 7, 06 Location: Northeast PA Posts: 2,601	The idea of escrow is to prevent EITHER party from having risk during the transaction. The seller is guaranteed clear funds are waiting for them, and the buyer is guaranteed that those funds will only be released when the transaction is successfully completed. Make sure that escrow funds are maintained in a separate account at an insured bank. If the escrow company just comingles with their own corporate funds, you are an unsecured creditor if they go bankrupt.

March 25, 2008, 02:29 PM	#8
sachs1999 TUG Member BBS Reg. Date: Feb 12, 08 Location: canada Posts: 77 Resorts: SDO/PGA, DVC, WMH,	do not buy form this seller, i too purchased from him. In looking into it further another reputable ts seller sold the same unit, deed everything a few weeks ago. The paypal info is for him personally and the closing company does not exist. When I called him on it he no longer rpelied to emails,

March 25, 2008, 09:38 PM	#9
Darren Guest BBS Reg. Date: Mar 24, 08 Location: BC, Canada Posts: 22	Hey sachs1999, did you buy club de soleil on Mar 20th from this guy? This guy, mforcex91801, just sold another timeshare for $1,370.00 today (Item number: 120236900455 on Ebay). I reported my findings about the timeshare company and escrow service to Ebay yesterday and they still allowed the auction to go through today.

March 25, 2008, 09:45 PM	#10
Darren Guest BBS Reg. Date: Mar 24, 08 Location: BC, Canada Posts: 22	sachs1999, if you got ripped off, here is a link to the Internet Crime Complaint Center: http://www.ic3.gov/ I'd love to warn the people who bought from this guy today but the bidder's ID's are privare. Another huge red flag.

March 25, 2008, 10:40 PM	#11
sachs1999 TUG Member BBS Reg. Date: Feb 12, 08 Location: canada Posts: 77 Resorts: SDO/PGA, DVC, WMH,	Darren, I actually purchased from a different user id than this but I have learned it is the same person, I too reported to ebay but they dont care. I did not pay anything for the vistana unit I purchased, hopefully he didnt take a fellow canadian for any of our loonies, haha.

March 26, 2008, 10:28 AM	#12
Darren Guest BBS Reg. Date: Mar 24, 08 Location: BC, Canada Posts: 22	lol, yea, now that the loonie is worth something again.