Private Mortgage Applicant
There is always a down payment. Collateral was not sufficient. Applicant was the only one who did not read the Financing Agreement. All Private Money Loans Charge Points Unless you have sufficient down. Please Remove this from your records... Out of 1000 Applicants he is the only one that is complaining! James Sinclair & Associates is Credible and I will always do business with them. I have never heard of anyone buying a house with No Money down. That is a scam! When you are buying a home and do not want to put any money down. Also trying to use collateral that is not verifiable...
Los Angeles, California
- Excellent service
Reason of review
Good customer service
Lending service scam
attempted to use James Sinclair's lending service for a home purchase...he requires a processing fee ($275) before the process begins...paid the fee...supplied the required info...loan amt was 175k...put up 450k as collateral...two days before the closing, James Sinclair changed the terms of the agreement to require a 35k down payment and he was still charging his points and interest on the down payment money...we were supposed to pay points and interest on our own money!!!! And he conveniently didn't "reveal" these new terms until right before closing...thinking we were "stuck" and be forced to agree to his terms...nothing but a scam in my opinion...who would agree to pay points and interest on their own money? Stay away from James Sinclair |& Associates in Beverly Hills, Ca.!!!
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