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Payday loan scams

Written By: admin - May• 08•12

Sad to say but where a chance is for money, there are always people who want to get them in an easy and dishonest way; payday loan scams are one of the top frauds in the cyber world. People are too free with the information; sometimes they sign contracts not even having a look at them that is why it’s so easy to cheat them. There are a lot of good and respectable payday loan companies; the question is how to differentiate the bad from the good.

A good payday loan provider will not charge you in advance.

You should never pay anything in advance to get a loan, that is why they have the interest rates. If you are told to pay in advance that means it is not a loan, but just a way to get your money from you. Not a single financial institution will charge you in advance, neither a bank, nor a payday loan provider.

You learnt about a payday loan provider from your e-mail.

A reliable payday loan company doesn’t spam e-mail; there is no need for it to do that. On the contrary they try to build a sound reputation, give advertisements in other sites and make you come to them through you own search. Any offer you get to your e-mail is in most cases a scam aiming at people who are in despair and don’t bother to do any search.

California Broker

Written By: admin - Jan• 14•11

Hello All,
Our firm is in the process of re-licensing in California… while that is in process I have a cash out deal to get done. Property is SFH in Mission Viejo, valued at $2.5mm, current mtg. $327k, looking for cash out to 70%. Middle score 725, stated income.

need a co-broker in Arizona

Written By: admin - Dec• 09•10

I need a co-broker in Arizona. Deals already approved with C and G Financial. Will pay $350.00 per deal.
Also, I had a deal approved that the borrower is using for a second home. She emptied it out to have the carpets cleaned, house painted, and work done on tile. Lender will not do claiming it is a vacant property. Any ideas? Deal is in Texas.

In Search of a Broker

Written By: admin - Dec• 09•10

I am currently doing alot of business in Arkansas, and Oklahoma, BUT I am not a licensed broker myself. I am currently sending all of my business through a broker in Oklahoma City, but it is not working out very well. Are there any interested brokers out there with licenses in these states that is interested in some extra easy income, for a reasonable flat fee?

Virginia Loan

Written By: admin - Sep• 11•10

hey all,
looking to co-broker a deal in virginia or swap. we are not licensed in virginia just yet…
here are the particulars:
loan amount: $290,000…
property value: $350,000…
80 % LTV…
remaining balance of mortgage: $178,000, wants CASH OUT…
it’s a BCD loan @10%
wants escrow and roll in all costs in the loan
debt/income ratio: 37/ 53