Ok I have a question… After what seemed like hundreds of b.s. contacts that said they could refinance my two properties, I thought Id found someone that could do the deal. They sent all sorts of things via email including a disclosure about their company. I was aware there would be closing costs. But I thought they would be paid ….you know….at closing lol. These folks said because theyre in another state I shouldnt expect them to do their papers out of pocket and they want me to wire them over $1600.. Its been a lot of years since I was a real estate agent. I know I sound ignorant but this doesnt sound right and Id rather ask stupid questions and feel foolish than feel broke lol. Is this the way things are now? Please help! Thanks!!
Tanner Gross: Stop
Mallory Thomas: DO NOT pay any upfront fees! This is a scam a lot of people have lost money to. You will never hear from them again if you send them anything
Malachi Leonard: Ellen. Wire fraud is a huge problem. As a realtor i no longer recommend wiring money tok anyone. Use local lenders that you can verify. No legitimate lender I have worked with ever asked for money up front
Iker Cooper: Its a scam!!
Max Maldonado: No.
Malaysia Warren: Heck no!
George Harrison: scam
Katelyn Todd: Scam alert! I had some one say I should pay 3600 wire transfer fee. Total BS I said hell no! Any upfront fee is a scam. They will take your money then disappear
Kaitlyn Farmer: Im about to just look for one of these companies that buys houses for cash. Im so upset and disappointed right now. Im in a situation that I really need to refinance and this type of crap is all Ive gotten.
Kaitlyn Farmer: Ive applied to places like that with no luck. Im trying to find a private lender but Im just about to give up. My nerves are shot.
George Harrison: Where are you located ?
Kaitlyn Farmer: In in Buffalo, South Carolina. In the upstate
Eva Jackson: Hire a realtor w an SFR or CDPE designation they can help guide you in right direction and they dont usually charge fees unless you plan to sell your home and only then they get paid at closing .
Jimena Houston: Dont do it
Alessandra Jacobs: Just send it to me same thing
Felicity Bush: No way
Logan Roberson: Hell no!ðŸ‘Ž
Keira Lawson: Its not.
Kara Patton: Stop!
Lucas Ortiz: DO NOT DO IT!!!! Go to a local bank or mortgage broker. If it can be done they can do it.
Maryam Moran: Actually this is the way things get done…. What is the $1600 for? They need to specify. Appraisal, inspections, etc. Those third party costs that are associated with all loans….
Kaitlyn Farmer: He said for inspections and attorney fees
Maryam Moran: Kaitlyn Farmer: So, then yes, it would normal to pay those fees out of pocket before the services are rendered.
Kaitlyn Farmer: Ok thank you.
Maryam Moran: Kaitlyn Farmer: Ask for invoices & receipts from the third party service providers. Legitimate service providers will have no problem with this. Pay them as you go through the transaction. First would be appraiser, then inspectors, then attorneys. Typic…See more
Kaitlyn Farmer: I asked them why they need the money up front and he kind of got offended and said I shouldnt expect him to do all that paperwork without being paid.
Maryam Moran: Kaitlyn Farmer: Typically a lender adds their fees at the end of a transaction. Im not saying (neither should you) that a lender shouldnt be paid, but those fees are typically on the settlement statement. Typically called a TRID.
Kaitlyn Farmer: When I sold real estate all the fees got paid at closing. (Hence CLOSING costs lol) This was way before the days of internet and such…I understand the aggravation of going through a process of paperwork and getting a real estate deal all set up only to have it fall apart and you end up not getting a dime for your work. …See more
Eva Jackson: loan application costs money, appraisal costs money up front but $1600 sounds high unless they can roll it into the loan. Call quicken
Kaitlyn Farmer: Quicken wont help me. Ive tried several times with them
Freya Osborne: Have you contacted a local commercial or residential mortgage broker? My personal opinion, NO WAY DO YOU SEND THEM MONEY !! I was a mortgage broker in a former life, so I have some idea of what I am talking about.
Josephine Boone: The only thing you should pay upfront is the appraisal fee. Id be happy to help, feel free to PM me.
Kaitlyn Farmer: Thank you…Im devastated right now. I really need this refi, my mom passed away from Alzheimers/dementia and the last few months have really taken a hit on my finances. I didnt think that getting the funding I was hoping for would be so difficult. Or that there were so many scammers! Im kind of glad Im not a trusting soul, and that I found this website!
Josephine Boone: Id be more than happy to take a look. People have a tendency to prey on your weakness. Its disgusting. I work for a nationwide lender and am here to help!
Kaitlyn Farmer: Sent you a pm Susie! Thank you!
Jacob Greer: Run!
Joanna Mann: HELL NO!!!!!!!!