I generally do NOT write reviews, but I really wan...

I generally do NOT write reviews, but I really want to do good by warning other potential investors to NOT invest with Patch of Land. My experience with Patch of Land is a particularly bad one.

Of the 10 loans I have invested with Patch of Land, 6 have been in default for more than 4 years. When I called them, they assured me that there would be no loss of principal as their "contracts are iron-tight."

All was going well as I was promised no or minimal principal loss until recently I was issued a "Non Performing Loan Reconciliation" where I lost over 60% of my principal with no interests earned for 5 years.

I'm typically not an emotional person, but I was extremely depressed and infuriated when I saw this. When they sold off my loan to a 3rd party, they sold it for 70 cent on a dollar. However, they made sure that THEIR portion of the fund invested got paid off in full (meaning they suffered no principal lost). To add salt to injury, they made a killing orchestrating the sale of the non-performing loan they did a such a poor job underwriting in the first place. I have posted a screenshot of the "wonderful" job they have done with investors' money.

If any other investors have suffered big losses as I have, I am interested in filing a class-action lawsuit against Patch of Land. Feel free to contact me if you are interested. Thanks!