All Forum Posts by: Yin Wu

A few things don’t seem right here, @Yin Wu. There must be more to this story.

First, unless the loan is from your mom or a close friend, there is not a legitimate private lender in the world lending interest only at 5% now. And, I assume your mom or friend would return your calls. Second, there is no reason a lender, who just provided $600k to you, would not return your call or claim he doesn’t know what this is about. Are you sure you actually received this loan and actually own the property?

Do you have a copy of a note and deed-of-trust you signed at either an escrow or title company as well as all the other loan docs typically expected by a lender? Do you also have a copy of a deed with your name showing ownership, that could be looked up at the county recorder’s office?

All recordings were performed by a title company. Yes?

If the answer to any one of these is no, then I’m guessing you don’t really have a loan and you don’t own the property.

We been called by unknown borrowers asking where their loan is. They were scammed by someone who stole the identity of our company and represented himself as me. In these cases, there was never an actual loan nor purchase of any property. They simply paid some anonymous scammer an up-front fee.

OR, I’m totally wrong (which usually goes without saying), and a few things should be clarified.

According to the dates you provided, your purchase money loan is just a few weeks old. Since your first payment in not due for a few weeks, you were shopping for a refinance at the same time your purchase loan was made(???). You used a private loan to ensure you didn’t lose a deal? Sorry, I don’t know what a DU refinance is.

Either way, if this was truly a legitimate loan that you just want to pay off quickly, the title company handling your refinance will be able to help you. It’s weird and unusual, but you don’t absolutely need the help of the lender to payoff and reconvey a loan.

This is your first post and your profile is blank, Yin, so there is no way to know your background, level of understanding, or sophistication. You might clarify your post.