Updated over 4 years ago on . Most recent reply
Payment before loan
How common is it for lenders to ask for $1600 payment from me before I receive the fund distribution? This seems like a scam but ive never had a home loan before. Is this basically the down payment for the loan?
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
@Alex Verdugo YES.....this is an absolute scam. None of the language has industry standard terms and has that “foreigner” (think Nigerian) use of the English language and terms.
No points or large fees are Ever paid when seeking a Legitimate home loan.