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Private money investing is the reverse side of hard money lending, a type of financing in which a borrower receives funds based on the value of real estate owned by the borrower. Private Money Investing (“PMI”) concerns the source of the funds lent to hard money borrowers, as well as other considerations made from the investor's side of the ...
Callers spoof the caller ID number of the victim's actual lending institution, swindling money from those seeking financial relief. FCC warns of 50-state scam by fraudsters posing as mortgage ...
That way the lender knows you have the money to make the down payment, but you have power to make sure they uphold their end of the deal before they get paid. 7. Beware the balloon payment.
BBB Scam Alert: This solicitation looks like a notice about your mortgage. Here’s how to spot it. If you get an unexpected letter from your mortgage company, look closely!
Based on mostly the same principles as the Nigerian 419 advance-fee fraud scam, this scam letter informs recipients that their e-mail addresses have been drawn in online lotteries and that they have won large sums of money. Here the victims will also be required to pay substantial small amounts of money in order to have the winning money ...
Private money is a commonly used term in banking and finance. It refers to lending money to a company or individual by a private individual or organization. While banks are traditional sources of financing for real estate, and other purposes, private money is offered by individuals or organizations and may have non traditional qualifying guidelines.
• Fake email addresses - Malicious actors sometimes send from email addresses made to look like an official email address but in fact is missing a letter(s), misspelled, replaces a letter with a lookalike number (e.g. “O” and “0”), or originates from free email services that would not be used for official communications.
Real estate and mortgage fraud cases may be the latest fallout from the recent real estate bubble. Two recent California court cases demonstrate the lengths that white-collar criminals will go to ...