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Updated almost 2 years ago on . Most recent reply

John Thao's profile image
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John Thao
  • Member since Nov 12, 2019
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John Thao's profile image
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John Thao
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John Thao
2
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Private Lending & Conventional Mortgage Advice

Scam or Real

John Thao
Posted

Any and all lenders please see if this is a legit agreement.

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Doug Smith's profile image
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Doug Smith
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  • from Tampa, FL
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Doug Smith
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  • from Tampa, FL
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Doug Smith
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Doug Smith
  • Lender
  • Tampa, FL
Replied

No way. First of all, "This loan calculation" is not a term that we use. They seem to be saying it's a single-pay note, or a "One-Pay", but the wording is sketchy. The kicker, however, is when they get to the 2% rate. Ask yourself this...the 10-Year US Treasury is trading at 4.060% right now. If you are an investor and the "risk free rate of return" is 4.060%, why in Heaven's name would you do a riskier loan at less than what you are pretty much 100% assured of getting your money back? No way this is real...SCAM ALERT!!! 

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