BEWARE: Lender Scams!

[Lena Claybon]

Hi All, I don't know if this is a big problem on BP but I know of a LOT of cases where its happened in my FB groups. PLEASE beware of lenders with "gmail" addresses (mostly) saying they can get you 4-5% loans for your deals. THEY ARE SCAMS! I know someone who just lost $1600 this week to one!  PLEASE do your DUE DILIGENCE on ANY lender/investor asking you for money such as a "contract fee" or "processing fee" BEFORE you folk over your hard earned cash!  They will even say there is no "upfront fee" but if they get you approved, there is a "fill in the blank" fee.  Ask for references. I had one who sent me his website and it had a fake street address! Check everything out!  I just hate to see people continuing to lose their money like this!