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Author Topic: World Lending Group?  (Read 8769 times)

Offline Unique26

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World Lending Group?
« on: October 12, 2006, 11:51:10 pm »
I'm trying to find a good lender to finance some of my investments. But then one day a friend introduce me to this WLG company where I can finance my own loans without going through a loan office along with building residual income by building a downline. Does anyone know about this company? What is your take on it?
"Have an open mind to everything, but not attach to anything"

Offline real estate 001

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Re:World Lending Group?
« Reply #1 on: October 13, 2006, 12:18:38 pm »
How do you finance your own loans  seams strange???


 do you have a web site to look at ??

Offline Lendinghand

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Re:World Lending Group?
« Reply #2 on: October 13, 2006, 12:26:04 pm »
I have.  I'd stay away from them.
Jason Vogler
Realtor - Ex Loan Guru
314-566-0919 direct

Offline prcullum

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Re:World Lending Group?
« Reply #3 on: October 13, 2006, 01:44:03 pm »
I'm trying to find a good lender to finance some of my investments. But then one day a friend introduce me to this WLG company where I can finance my own loans without going through a loan office along with building residual income by building a downline. Does anyone know about this company? What is your take on it?

Offline prcullum

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Re:World Lending Group?
« Reply #4 on: October 13, 2006, 01:45:46 pm »
I would be careful to.  Look more into to firm it is mlm.  again be careful.


Offline Unique26

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Re:World Lending Group?
« Reply #5 on: October 13, 2006, 03:26:23 pm »
I have.  I'd stay away from them.

Why would you recommend to stay away from them?
"Have an open mind to everything, but not attach to anything"

Offline Unique26

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Re:World Lending Group?
« Reply #6 on: October 13, 2006, 03:27:12 pm »
I would be careful to.  Look more into to firm it is mlm.  again be careful.



What does mlm means???
"Have an open mind to everything, but not attach to anything"

Offline Unique26

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Re:World Lending Group?
« Reply #7 on: October 13, 2006, 03:28:51 pm »
How do you finance your own loans  seams strange???


 do you have a web site to look at ??

Here is their website: http://www.wlgweb.com/


What do you think?
"Have an open mind to everything, but not attach to anything"

Offline ooSlimm

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Re:World Lending Group?
« Reply #8 on: October 13, 2006, 04:06:45 pm »
WLG is Hubert Humphrey's company. It is completely MLM (multi level marketing) I have heard some horror stories from this firm, check with your local BBB as well as the FTC. WLG was formerly run as WMA until they sold I believe 5 years ago to Dutch Ins. giant Aegon. The heavily push the Option Arm product and you do your own loans by acting as an LO for the company. It is all kind of shady!

Offline Unique26

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Re:World Lending Group?
« Reply #9 on: October 14, 2006, 12:19:48 am »
WLG is Hubert Humphrey's company. It is completely MLM (multi level marketing) I have heard some horror stories from this firm, check with your local BBB as well as the FTC. WLG was formerly run as WMA until they sold I believe 5 years ago to Dutch Ins. giant Aegon. The heavily push the Option Arm product and you do your own loans by acting as an LO for the company. It is all kind of shady!

So far there has not been any complaint on them in the BBB. What horror stories have you hear? How are they shady? Is mlm bad?
"Have an open mind to everything, but not attach to anything"

Offline REI4ROI

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Re:World Lending Group?
« Reply #10 on: October 15, 2006, 07:50:01 pm »
Putting aside my personal feelings for MLM companies, I see few issues that would have me reconsidering:

a.  Arms length requirements/laws
b.  The longevity of a MLM in the lending industry that will meet the long term muster of both the FTC and HUD.  
c.  MLM companies are built on charging a higher then market price for the product/service it is attached to (anyone purchase Amway soap?) and paying profits on 2 or more levels of your organization.  So ask yourself, do you want to pay a higher interest rates/closing costs and do extra work (the job of a loan officer) when you can get financing more cost effectively with none of the added effort?  

Just my 2 cents...

Regards,

H. Scott Miller
« Last Edit: October 16, 2006, 08:30:25 am by kdhastedt »
RE Investment Advisor
Weichert Realtors
[email protected]

Offline Unique26

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Re:World Lending Group?
« Reply #11 on: October 16, 2006, 03:31:25 pm »
Putting aside my personal feelings for MLM companies, I see few issues that would have me reconsidering:

a.  Arms length requirements/laws
b.  The longevity of a MLM in the lending industry that will meet the long term muster of both the FTC and HUD.  
c.  MLM companies are built on charging a higher then market price for the product/service it is attached to (anyone purchase Amway soap?) and paying profits on 2 or more levels of your organization.  So ask yourself, do you want to pay a higher interest rates/closing costs and do extra work (the job of a loan officer) when you can get financing more cost effectively with none of the added effort?  

Just my 2 cents...

Regards,

H. Scott Miller

Hi Scott,
Would you mind explaining A & B? I do not understand what do you mean.  

Thank you!
"Have an open mind to everything, but not attach to anything"

Offline REI4ROI

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Re:World Lending Group?
« Reply #12 on: October 19, 2006, 10:08:59 am »
An arm's length transaction is one between a willing buyer and seller with no undue influence imposed on either party and where there is no relationship between the parties except that of the specific transaction.

The lending industry is one of the most regulated industries on the planet and is unlikely that survival of a MLM lending business model will survive the test of time.  
RE Investment Advisor
Weichert Realtors
[email protected]

Offline Unique26

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Re:World Lending Group?
« Reply #13 on: October 22, 2006, 11:15:57 pm »
An arm's length transaction is one between a willing buyer and seller with no undue influence imposed on either party and where there is no relationship between the parties except that of the specific transaction.

The lending industry is one of the most regulated industries on the planet and is unlikely that survival of a MLM lending business model will survive the test of time.  

Thank you for your explanation.

So would you say this company will only last for another year or two? It has been around since 2002.
"Have an open mind to everything, but not attach to anything"

Offline REI4ROI

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Re:World Lending Group?
« Reply #14 on: October 23, 2006, 12:00:29 pm »
I wouldn't want to speculate as to the shelf life of this type of business model.

Just out of curiousity, if you can't act as the lender and home buyer in the same transaction, why would you want to join?  

Regards,
Thank you for your explanation.

So would you say this company will only last for another year or two? It has been around since 2002.
RE Investment Advisor
Weichert Realtors
[email protected]

 




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