How safe are secured loans. Do all secured loans required you to send money prior to receiving loan amount?
Question by Lois Stith: How safe are secured loans. Do all secured loans required you to send money prior to receiving loan amount?
Need to know if First West Mortgage Bankers located in Las Vegas Nevada are legit. Applied for loan with ExpressLoan.com, however, I can’t find their website anymore. Was promised loan but have to send secured amount first. Is this legit?
Best answer:
Answer by My Take on It
NO legitimate lender will EVER ask you to send them a FEE or up front payments FIRST.
A LEGIT lender will roll any fees into the loan OR deduct them from the loan amount.
Anyone who asks you to front them fees or wire them money in order to fund your loan is a fraud, scammer and is looking to take advantage of you.
Do a WHOIS on their domain name…bet they only bought their web name for one year…big red flag also that it is a scam..
Add your own answer in the comments!
A legit lender would never have you send money in advance. Their fees (if any) would be deducted from the loan proceeds.
Any lender that requires money upfront is a scammer. There are not exceptions.