KQED - California Homeowners Say Oakland Lender Scammed Them Out of $3M in Home Improvements

OAKLAND, CA - Dozens of California homeowners allege an Oakland-based lending company conspired with contractors to issue fraudulent loans for home improvement projects that were never completed.

Nearly 160 complaints have been filed against the financial lending platform, Solar Mosaic, since 2019, according to data from the Consumer Financial Protection Bureau. And on Monday, a group of nearly 100 people drove from Los Angeles to protest outside Solar Mosaic’s headquarters in downtown Oakland, demanding to meet with the company and seek loan forgiveness and repayments.

Julie Robles was among Monday’s demonstrators. The Los Angeles homeowner said Viridi Construction, a construction company working to build an accessory dwelling unit, or in-law apartment, on her property requested $75,000 from Solar Mosaic, which the lender allegedly granted without any prior authorization from her.

“I’m already retired, so if something happened, I wouldn’t be able to recover the money,” said Robles, who is trying to get out of a $75,000 loan, plus nearly $3,000 in interest and fees. “I trusted them.”

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