What do you think of these loans?
here is the CL link...
http://seattle.craigslist.org/see/rfs/353174065.html
who knows how long it will take to get flagged (I didn't flag it as it was in the for sale section rather than for rent) so here is the copy.
"It's about time for a fresh approach to buying real estate.
If you're a real estate investor, or trying to become one, then you're a business person and as such, you're looking for the best rates. Well, how does 4.09% sound? Not a promo rate. No prepayment penalties. No gimmicks. We won't waste your time with a big sales pitch, so, here are the black and white details:
• We connect you with lenders offering loans in foreign currency.
• Currently, there are 10 different currencies from which to choose.
• For some examples, as of June 15th, 2007:
o The Swiss Franc is at 4.09%
o The Singapore Dollar is at 4.35%
o The Euro is at 5.76%
o The Canadian Dollar is at 6.06%
o The US Dollar is at 6.98%
• You can switch currencies twice per year for free. After that, it's $150 (US Dollars) to switch.
• These are for investment/vacation homes only.
• There is no penalty for purchasing properties to rent out.
• There are no pre-payment penalties on variable rate loans (so you can always refinance domestically).
• 75% - 80% LTV required (depending on options).
• Loans from 75k – 1.5 million per property.
• You may use the money to refinance, purchase new property, or access the equity in your rental or vacation homes!
This truly is a no gimmick offer. The bottom line is, lenders here in America charge the high rates they do because they can. Well, now alternatives are available.
These loans are not for everyone as they are cash-flow based and not credit based (meaning, does the borrower have the money to pay the loan back?). In fact, your social security number will not even be asked for and your credit will not be checked.
You've probably never heard of a loan like this before and that's because up until recently, they were not available in the states. However, that is changing – and it's about time.
If you'd like to find out more about it, or would like to make an application, please contact us through Craig's list and we will contact you using whatever method you indicate in your email. No personal information will be asked of you until you are ready to apply. It's free to inquire. It's free to apply. Don't miss out.
• Rates subject to change without notice
• Rates above are not APR. Actual rate in terms of APR will be disclosed in a good faith estimate. However, for example purposes only, on a $300k loan using the Swiss Franc with an interest rate of 4.09%, the effective rate is 4.28% APR with a principle and interest payment of $1481.16"
http://seattle.craigslist.org/see/rfs/353174065.html
who knows how long it will take to get flagged (I didn't flag it as it was in the for sale section rather than for rent) so here is the copy.
"It's about time for a fresh approach to buying real estate.
If you're a real estate investor, or trying to become one, then you're a business person and as such, you're looking for the best rates. Well, how does 4.09% sound? Not a promo rate. No prepayment penalties. No gimmicks. We won't waste your time with a big sales pitch, so, here are the black and white details:
• We connect you with lenders offering loans in foreign currency.
• Currently, there are 10 different currencies from which to choose.
• For some examples, as of June 15th, 2007:
o The Swiss Franc is at 4.09%
o The Singapore Dollar is at 4.35%
o The Euro is at 5.76%
o The Canadian Dollar is at 6.06%
o The US Dollar is at 6.98%
• You can switch currencies twice per year for free. After that, it's $150 (US Dollars) to switch.
• These are for investment/vacation homes only.
• There is no penalty for purchasing properties to rent out.
• There are no pre-payment penalties on variable rate loans (so you can always refinance domestically).
• 75% - 80% LTV required (depending on options).
• Loans from 75k – 1.5 million per property.
• You may use the money to refinance, purchase new property, or access the equity in your rental or vacation homes!
This truly is a no gimmick offer. The bottom line is, lenders here in America charge the high rates they do because they can. Well, now alternatives are available.
These loans are not for everyone as they are cash-flow based and not credit based (meaning, does the borrower have the money to pay the loan back?). In fact, your social security number will not even be asked for and your credit will not be checked.
You've probably never heard of a loan like this before and that's because up until recently, they were not available in the states. However, that is changing – and it's about time.
If you'd like to find out more about it, or would like to make an application, please contact us through Craig's list and we will contact you using whatever method you indicate in your email. No personal information will be asked of you until you are ready to apply. It's free to inquire. It's free to apply. Don't miss out.
• Rates subject to change without notice
• Rates above are not APR. Actual rate in terms of APR will be disclosed in a good faith estimate. However, for example purposes only, on a $300k loan using the Swiss Franc with an interest rate of 4.09%, the effective rate is 4.28% APR with a principle and interest payment of $1481.16"
Comments
Sign me up!
http://www.whypaydouble.com that was pushing yen loans. I asked about it on RCG and Jillayne looked into it as they were purporting to be "affiliated" with Lloyds of London. She reported back that Lloyds told her that they had nothing to do with it and that it was a 419 scam.
if you go to their site now...it states that they are no longer accepting yen based loans...gee...I wonder why.
I wonder what the other currencies that this lender in question is using.
Oh...and speaking of 419 scams...if you want to have fun with them...just check out what "shivermetimbers" does with these fraudsters over at http://www.419eater.com. It's an online sport called scambaiting. Be sure to read shivers warnings though. And check out the trophy room...too funny.
This is like buying the "cheaper" car because the paint looks like a good deal, but I'm sure people do that, too.