250k unsecured lines for 10%??

now i wish i was a mod to see that report lol

The following post, "Re: 250k unsecured lines for 10%??" by TonyDiCorpo has been reported by relukeinvest on a board you moderate:

http://www.reiclub.com/forums/index.php?topic=27961.msg130762#msg130762

The reporter has made the following comment:
this guys a deutchbag

Regards,
The REIClub Team.

Your wish is my command. To bad I don’t have the other one in my mailbox anymore, my email account autoclears deleted items every 24 hrs so I think its gone for good…

I have to agree with tony a bit on this.

I’ve worked with a corporation before, a real one with about 50 employees, doing actual daily business in computer networking. When a state government contract came along, signed and properly funded, the funding came from a major financial lendor (think “we bring good things to light” :biggrin). Long story short, despite everything seemingly perfect, they still require a personal guarantee from the president and vice-president of the corporation.

The only difference I can possibly see if that this was for 10 million and not 250k.

keith,
im glad i provided you entertainment. it was actually as joke as i hoped you (moderators) would be entertained. similiar to the lady at burger king (in orange county) who called the cops because they wouldnt make her hamburger the way she wanted it…except she wasnt kidding. and yes, im sorry i spelled douchebag wrong, i knew it at the time, but didnt take the time to check how to spell it. ive gotten a lot of business out of this post though. thanks guys!!!

This quote is from another forum but is very appropriate.

Everyone wants an easy fix. The good thing is that the people who want to take the easy road are often the ones who get scammed. Natural order at it's best. DeeInAustin
ive gotten a lot of business out of this post though. thanks guys!!!

I think what relukeinvest is trying to say is basically, “there is a sucker born every minute and he is glad to oblige them.”

:cool hey are you saying you think the whole unsecured lines are bull?

I would be extremely careful about working with this company. It sounds like they’re loan brokers who file multiple applications at the same time with multiple lenders. They apply for stated income/asset lines of credit for about $20K to $30K each with about 10-12 different lenders. That’s 10-12 different inquiries on your credit. The banks will ask you if you are working with a loan broker. If you say yes, they will reject your application. These companies coach you to lie to them and say you’re not working with a loan broker. They also coach you to lie to the bank reps about the stated assets and income of your company. Their rationale is that since they are stated income/asset lines of credit, it gives you the license to lie. Remember, you are responsible for these lines of credit. If you obtain funds based on untruthful data, you will be prosecuted for fraud. Stated income loans still require that you be honest. Just do a Google search on “loan broker fraud” and you’ll see what I’m talking about. People are going to jail for this stuff. Remember, if it sounds too good to be true, it probably is. My best advice is to stay away from this crap.

My best advice is to stay away from this crap.

I would second that motion. :beer

What’s the old saying? “A fool and their money are soon parted” :deal

What’s the old saying? “A fool and their money are soon parted”

But the real question is “How did they ever get together?”