They request a processing fee of $35.00 and will refund if not satisfied. Anyone?
2007-12-08 03:25:58 · 4 answers · asked by emtd65 7 in Business & Finance ➔ Renting & Real Estate
Why would you send your personal financial information to a company that you have never even heard of?
Even IF someone had heard of them...does that make them a valid source for a loan?
Sorry, that is how identity theft happens...don't send your personal information to a stranger.
2007-12-08 03:30:36 · answer #1 · answered by Expert8675309 7 · 1⤊ 0⤋
Advance fee loans are illegal in the US. The ONLY exception is when you apply for a home mortgage and are asked to pay for the credit report up front. If this firm came out of the woodwork offering a loan and asking an advance fee it IS a scam. Walk away.
No legit lender charges processing fees for loans other than home mortgages. With a mortgage there are significant costs in drawing up the contracts, registering deeds, stamp duties, etc. That's why they are commonly levied on a mortgage but even then you pay these at closing aside from the credit report fee. And if you don't close, the lender eats the fees.
2007-12-08 03:45:30 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
From the information given, this appears to be a company with several DBAs operating from Buena Park, CA. Of the many complaints filed against it with the LA BBB included are failure to provide any services at all and failure to return application fee on request.
2007-12-08 04:04:54 · answer #3 · answered by Bill 4 · 0⤊ 0⤋
As the others said, any reputable company would not operate this way.
Find a reputable lender in your area, local lenders will know what local programs you may qualify for.
2007-12-08 05:29:26 · answer #4 · answered by godged 7 · 0⤊ 0⤋