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Updated almost 4 years ago on . Most recent reply

Alex Verdugo's profile image
Alex Verdugo's profile image
Alex Verdugo
  • from Tucson, AZ
  • Member since Jul 10, 2017
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Alex Verdugo's profile image
Alex Verdugo's profile image
Alex Verdugo
  • from Tucson, AZ
  • Member since Jul 10, 2017
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Alex Verdugo
  • Tucson, AZ
40
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118
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Mortgage Brokers & Lenders

Payment before loan

Alex Verdugo
  • Tucson, AZ
Posted

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's profile image
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Wayne Brooks
  • #1 Foreclosures Contributor
  • Real Estate Professional
  • from West Palm Beach, Florida
  • Member since Jul 27, 2012
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Wayne Brooks's profile image
Wayne Brooks's profile image
Wayne Brooks
  • #1 Foreclosures Contributor
  • Real Estate Professional
  • from West Palm Beach, Florida
  • Member since Jul 27, 2012
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

@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.

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