Fake Private Lenders

[Faye Taylor]

Private Lenders......are they even real.  Has anyone out there actually did business with an honest to goodness, and I do mean honest, private lender who will stand by their word and deliver.  The statement that I listed below is in regards to my experiences with a private lender.  I have been burned once dealing with one, and I am in the process of trying to fund some other properties and dealing with a private lender and I am scared to death to trust them.  From this statement that I had sent to several lenders to give them an idea of what I had been working would, to let them know why and how I acquired this feeling of distrust against a private lender.  Let me know if you have had any dealing with this individual, private regarding loans for my property. FIrst of all I want you to know that I am not making any comparison to any pass associations I have had with other private lenders, but I can't ignore that I am in the "I am scared to death to proceed with this transaction simply because I am still suffering from the painful BITES I received from the other lender" I was dealing with before you contacted me. I don't know if I told you about my past experiences or not, but a previous lender has, well, I consider it stealing $3350 from you as I tried to obtain a loan for 150k. I was told there was an origination fee of $1500. Alright, I paid that, then they came up with another fee, forget what it was, but that was for $700, Paid that, then there was another fee for, forget what that was for also. The last fee was for $1150.

I was told that this would be the very last fee paid. Guess what, they lied, after they received that payment, they asked for yet another $509. I should not have kept paying out funds, but I figured I had invested so much already, and that maybe, just maybe, it would turn around, that I was working with honesty, with honest people. It didn't work out. So yes, I am afraid. But, regardless, I still want to believe that there are some honest and trust worthy private lenders out there, that can be trusted. But moving right along. I do hope that we can develop a trustworthy relationship. You lend the money in good faith, and I repay it in good faith. That is all I am asking for. I just thought I would share this little tidbit with you. I have to admit this was quite a traumatic experience. All I want to do is find a way to increase my income and treat others as I hope to be treated by them.

Faye