fake lender your being scammed 

Originally posted by @Justin Gottuso:

Same here. I was contacted about 100% financing opportunities. I asked for business information and this is what he sent me. All the blog posts were posted on the same day, April 26th. 

Just FYI  any lender registered in NV  MUST have a NMLS number Federal number PLUS a state license.. NV is very strict on these. No lender would send you this.. if you have to ask for this info then its a fraud on its face..

Just was contacted by Jeremy Gaston, And now I’m seeing others have been contacted by him and his associates as well. I have been researching various hard money lender’s in and out of my area for months now, and no lender will offer 100% financing to a beginner at a 4% interest rate! Definitely wanted to see if this was a scam, and turns out that was the smartest thing to do. Please see attached the first email they sent me and pictures of the PDF they sent when asked for loan terms. They advised me to “revert immediately” if I found anything wrong with their terms, which I thought was a little odd. Not a major giveaway, but the rest of these posts will certainly halt any further activity on my part with this so-called “lender”. Thank you everyone for the help!

Once again , I’m very thankful for this forum! Almost send then app but seems too good to be true! 

The 100% LTV raised some eyebrows. I asked for his NMLS#. I am still trying to figure out how he even got my email address.

11/30/2021 
Jeremy Gaston has reached out to me as well. man is persistent! glad BP has uncovered this scam.

Thanks he reached out to me too.

Originally posted by @Dakota Fleming:

Just was contacted by Jeremy Gaston, And now I’m seeing others have been contacted by him and his associates as well. I have been researching various hard money lender’s in and out of my area for months now, and no lender will offer 100% financing to a beginner at a 4% interest rate! Definitely wanted to see if this was a scam, and turns out that was the smartest thing to do. Please see attached the first email they sent me and pictures of the PDF they sent when asked for loan terms. They advised me to “revert immediately” if I found anything wrong with their terms, which I thought was a little odd. Not a major giveaway, but the rest of these posts will certainly halt any further activity on my part with this so-called “lender”. Thank you everyone for the help!

First email they sent me, yes my wife named my inbox ;p. PDF they sent me when I asked for loan programs and term sheet.

YUP bad English is a one of the first red flags that is a scammer sitting in a call room in Bangladesh or the Ukraine or some where in the Caribbean.   This is just another version of the scammers that call you and say the IRS is after you, or your about to be arrested or any other number of scams. And it works because there are so many beginner real estate investors who simply don't understand what is real when it comes to real estate financing.. And or maybe they have watched to many guru or U tube videos on YOU TOO can do real estate with no money down..   And then this scammer pops in and Wa LA here it is must be true..  The other thing they rely on is most folks beginner and somewhat experienced dont know the laws of on licensing for lending.  There are 12 states that require NMLS registration and a state license for ANY loan on a 1 to 4 unit.. the rest of the states you may make a commercial purpose non owner occupied loan without a license. So they dont know that if someone is from NV or their business is registered there they simply dont know that it requires these licenses. 

Just like those who dont understand that the IRS would never call you .  They send nice form letters LOL.  

The one company that does market heavily for 100% financing that is US based and appears to be legally set up is Do Hard Money and they advertise here on BP.. Although if you read threads on them.. you will see that they require a 3k dollar up front fee to buy their educatonal material. while they say its not mandatory others have posted on BP if you dont pay it they hang up on you..  Then the company says you get it back when you close your first deal with them.. Others have posted that their underwriting criteria is so strict and fees so high that its very tough to get a loan that will work and these folks just give up and end up with 3k worth of educational material and NO 100% loan.

the reality is right now its never been easier to get a HML 80 to 90% financing and 100% of renovations.. If you dont have 10 to 20% cash that you have saved frankly you have no business trying to borrow money and do a flip your way to high of a risk.

Does 100% happen sure it does alot but for very experienced long term clients of certain lenders it simply is not real on the internet face book social media or anyone sending you a blind e mail or PM on bp.

Trust Funding Inc, has a person named Jeremy Gaston who is a complete scam. He drained me out more than $5,000.00 a little bit at the time. First $1,600 for origination fees, then $3,200 for MIP (Mortgage Insurance Premium), then $1,600 for mortgage security instrument, then he sent me an approved wire transfer from some fake Chase bank with the loan amount to be wire transferred to my account. Then I got another email requesting $1,000 for closing fees before he could wire transfer the money.

At that point I really had to stop and probably take my losses because it was already more than obvious that this
guy is dripping me out running his scam at 100% full blast. I failed to pay attention probably because I was desperate to get the funding before the closing of the property. However, I take full responsibility for my actions and I'm sharing this with the community in a spirit of an alert of those people that want to hurt our small businesses.

I'm NOT posting this in a form of retaliation, but more to protect those entrepreneurs who would be looking for funding. I have the entire email thread in case anyone is interested.

Thank you, Igor

Thanks for sharing! That absolutely sucks, man. Now you know what a scammer looks like! They can take all shapes and sizes, but remember those red flags for next time. Hope you find good financing for your property!

Also keep in mind there is NO SUCH THING as mortgage insurance for HML private money loans.. Only owner occupied federally backed loans have mortgage insurance.. I understand how it would sound OK .. as you probably have heard of PMI many times and just did not realize there is no PMI for private loans.

Looks like they are still at it. Same loan terms as mentioned earlier but new company name (ACCESS FUNDING SERVICES) and new "lead person" (Ashley Westwood). What gave it away was they used the same damn phone number. Idiots. 

Same,  thank goodness I didn't get this email a year ago,  or I would've been down the rabbit hole on this one.  

My guy is Bruce Williams. HA!!  So glad I found this thread! Haven’t given money……I’m going to try to f*** with this guy. It pisses me off that people do this. He gave me a “contract”. Via Fb messenger. F’ing idiot!!  I also told him that I’m calling the attorney general. And I looked on his Fb and know where he works. I may show them what kind of side gif he does.   

OMG, find this post very helpful! I got an email too. All insist I need to pay upfront.