Posted by joe on July 30, 2008 at 16:33:00:
pls delect this add, i think you do not know what u talking about .
Don’t Send Money–SCAM Alert - Posted by Darlene
Posted by Darlene on July 29, 2008 at 12:18:52:
I wanted to let you know that I posted a request for funding on this site and was “approached” by a Mr James Barry with Union Finance & Trust Company (or whatever name they may be using). Take it from me who has learned a valuable lesson–do not try to do business with this “man” or anyone with whom you cannot speak to on the phone. Yes it is convenient to do everything online but it also sets you up to be a victim. I, ashamedly, sent money expecting to receive funds promised to me through a loan for which I had been approved. Fees kept coming up and I would pay them.
Today was the final straw when I received all of my money back in the form of counterfeit money orders. Thanks to this site I called to verify them and was told they were indeed counterfeit. I learned this from someone else on this site.
So I wanted to make sure that whether you are a new investor or seasoned investor do not pay fees for a loan upfront. I will admit that in my mind they were doing the same thing as a hard money lender in that they charge “points” up front but they are not. They are taking your hard earned money and fluffing their pockets.
I hope this helps someone. I have learned my lesson. Be Blessed and be patient–your education will pay off!
Re: Don’t Send Money–SCAM Alert - Posted by Joe G
Posted by Joe G on August 04, 2008 at 06:12:37:
Mr. James Barry also contacted me, but luckily, I didn’t send them money. Something just didn’t seem right. I am always sceptical about overseas transactions online.
Re: - Posted by Ken
Posted by Ken on July 30, 2008 at 14:27:54:
i once get a loan from Union finance and security company with Low credit score and my LTV as also low. I am amazed if you where scammed or something , But i paid upfront for processing fees and after 2 weeks in received the loan in My Bank.
Re: Don’t Send Money–SCAM Alert - Posted by Floyd
Posted by Floyd on July 29, 2008 at 19:04:31:
These are the same people that tried to get me a couple months ago. Fortunately, I never sent any $$$ to them.
IF THE ONLY WAY TO PAY IS WESTERN UNION! THEY ARE NOT LIGIT!!!
Please beware of these scams in all of their forms. These people are crafty…
Re: - Posted by Darlene
Posted by Darlene on July 30, 2008 at 14:54:41:
Crafty!! Based on your wording in your email I think you are part of the scam and trying to put a positive spin on it but based on responses I have gotten it is a scam.
Nice try!!
WOW - Posted by Jim
Posted by Jim on August 01, 2008 at 07:14:35:
Not only are they good at scamming, they are getting better at damage control.
Dont pay up front fees for Hard Money, unless its a BIG commercial deal. Small residential deals will not require great fees up front, other than 3rd party fees for appraisal and such. Even then, research the companies that you are dealing with and get phone numbers and addresses for them.
If they cant provide the information needed, then they are a scam, point blank.