P.M.L. asking for fee outside of closing
Ok guys, now I assume from my research in the forums and basic common sense that this is a scam, but I wanted to get some opinion.
I started working with a hard money lender that said he's set up his own company to lend out his own private money, and I met him through a Facebook group for real estate investors. We talked about the deal I had found and he asked for some documentation to approve my ability to repay a loan if he have one.
He said I was good to go and came up with terms but is now asking for a fee to process documents/paperwork/etc. and wants it wired to an individual account...
Right there I slammed on the brakes and decided this was probably a scam. I haven't seen a lender of any sort want money wired to them to proceed and as I understand if there's any sort of origination fee this should be given to a closing/title company to give out once the transaction has completed...
Correct me if I am wrong here or can someone verify that this is probably a scam? Thanks all!!!
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