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Updated about 8 years ago,

User Stats

6
Posts
1
Votes
Linda Sandoval
  • Real Estate Professional
  • Houston, TX
1
Votes |
6
Posts

Questioning a private money lender

Linda Sandoval
  • Real Estate Professional
  • Houston, TX
Posted
Hello from Houston, Tx. I have reached out to a private money lender for the first time. Being the first time, I am really skeptical, I don't want to be scammed. For those who have experience or are private lenders can you tell me if below is the norm. I have been asked to pay for loan insurance and send the payment to a personal bank account. I have confirmed the account has been opened for more than 36 months. In our repayment agreement it states an attorney will handle the insurance but I have not been able to confirm this person is a lawyer. The lender states it is. What are some questions I should ask? Has any ever had experience with Mason Private Lenders? Thank you in advance for any wisdom.

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