Folks, I learned today (1/25) that this place is a scam.
I didn’t go with them because I couldn’t find anything about them and “no news is good news” did not seem to apply. So I decided better safe than sorry and I contacted another company.
An reiclub.com member gave me a heads up about a person who was scammed by them. Apparently they took her due dilligence fee and split.
So now, please stay away from Birchmere Mortgage.
I haven’t heard about anyone dealing with them but I also have applied with them. They haven’t gotten back with me yet. Still waiting. When and if you do let me know how it works out and I’ll do the same if I hear from them.
I’d love to know more too because I have a CCTL in front of me for a large amount and wouldn’t want to fall into a big hole on my first hard money deal. This project would fund my other projects so I definitely need to know any info on them.
I think we all have the CCTLs, but my thing is the upfront fee, which I’m sure we are all wondering about. I always thought that the fees could be rolled into the loan. HMMM,
well I guess we shall see.
I put this in my OP above, but I think it bears repeating–please stay away from Birchmere Mortgage!
what happened. I was thinking of using them to do some projects