DO HARD MONEY refunds??

[Joe Threats]

Has anyone ever paid dohardmoney the $3,500 and not get a deal funded?? If so did you get ANY of your deposit back??

[Jay Hinrichs]

Originally posted by @Fred Shatzoff:

@Joe ThreatsAre you paying them $3,500 to pre approve or is that their application fee?  What are they doing for you?

many threads on this company\

Fred,  the 3500  which used to be 3000 is a fee you pay up front if you want 100% financing..  it is said that pays for their how to information so in essence your buying some guru how to flip information for 3k or 3500..  if you never do a deal there Is no refund they sold you the information.

now some of the people representing the company will come on BP and say the 3k is not mandatory other customers will say the opposite.  then the company will say you don't need the deposit if your putting money down.

further to do the 100% what others have posted is that they have the borrower start and LLC which the lender becomes a member of and in the LLC there are default provisions if the borrower cant make payments or whatever they lose their LLC interest.. and the lender takes over the LLC.. thereby not needing to default.

Its an advance fee scheme.. but some have reported that they actually got loans.. although its not no money down you need the 3500 .  which is returned to you in your first deal.

with these type of loan programs of course they attract new investors with limited funds.. so you can imagine how many put this on a credit card and Never do a deal.. any lender doing 100% and I have done my fair share personally..  the deal has to be a SMOKIN deal

new investor limited funding  very very hard for them to find a deal that will get through UBER conservative underwriting.. 

Just a guess but I suspect this company makes a significant amount of income on the 3500.  But again to be fair they are selling their version of information .. which they claim is worth the 3500...