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Updated almost 6 years ago on . Most recent reply

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Corey Dexter
  • Specialist
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Do private lenders request you to send money to Walmart?

Corey Dexter
  • Specialist
Posted

I am dealing with a private lender and I wired the initial security fee to him. The account manager did not bring the paperwork we signed to transfer the funds which caused a fee of $6000. So they want me to send the money to Walmart. Is this a good deal or a scammer.

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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

Money gram is short for rip-off gram.   Any funds requested thru Wal-Mart or CVS are scams.  Same goes for western union.

Legitimate lenders, sellers, wholesalers, etc use title companies or closing attorneys.

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