they are asking for a fee of $250.00 as "insurance" up front, is this legit??
2006-08-30 05:54:11 · 10 answers · asked by hg 1 in Business & Finance ➔ Personal Finance
Whenever insurance is required, check the policy documents to see what it actually covers. If it is optional, only get it if it offers you some protection, otherwise it is is useless.
2006-09-03 02:05:22 · answer #1 · answered by Jeremy D 5 · 0⤊ 0⤋
No. I have owned my own mortgage company for years and we have never asked for an upfront fee. That tells me the person you are working with does not have any confidence in getting your loan done. Shop around, it pays. If you are looking in NY, MA or RI I can help you.
2006-08-30 05:59:38 · answer #2 · answered by mortgage_info_4u 2 · 0⤊ 0⤋
yes, depending on what type of loan it is however read the fine print because it could be closing fee's or if at the end of the loan you cnacel you may not get it all backthose types of deposits are usually required on personal loans what kind of loan is it that your trying to get?
2006-08-30 05:59:25 · answer #3 · answered by fernie201320 2 · 0⤊ 0⤋
IF you get the loan, they have scammed you of $250.00.
And if you are declined, they have scammed you of $250.00.
Tell you something?
2006-08-30 06:00:33 · answer #4 · answered by ed 7 · 0⤊ 0⤋
Is it from a bank? financial institution? or a finance company? read the fine print on the paper that was offered
2006-08-30 05:59:58 · answer #5 · answered by PMW1718 3 · 0⤊ 0⤋
The fact that you're asking means your gut is telling you it is not legit. Go with your gut and as we say "shop around!"
2006-08-30 06:06:59 · answer #6 · answered by kcincon 3 · 0⤊ 0⤋
Sure, send me $250 and I'll loan you $100.
I can't believe people are so foolish.
2006-08-30 07:02:25 · answer #7 · answered by BOB W 3 · 0⤊ 0⤋
SCAM!!!!!!!!!....I just recently got scammed the same way, but for $900.00.....don't do it....if someone is going to give you a loan, they will not ask for money up front.....
2006-09-03 02:49:04 · answer #8 · answered by Anonymous · 0⤊ 0⤋
it might be legal like so many other things but it is wrong
try this you should find what you need
http://www.nohasslebargains.com/loan/id3.html
Personal Loans
Financial Services
2006-08-30 06:07:42 · answer #9 · answered by Anonymous · 0⤊ 0⤋
you too - they wanted $1,000.00 upfront for a $550,000.00 loan from me . scam city all the way
2006-08-30 10:27:45 · answer #10 · answered by Anonymous · 0⤊ 0⤋