Total money lost $890
Type of a scam Advance Fee Loan
client was " approved" with no income confirmation for Steven Price. 5.9% APR over 60 months. 10k loan on promissory note. Credit & Liability Insurance: Credit & liability insurance is a plan to protect and secure the loan from Job loss, Medical issues
as far as Death in the family the borrower is protected and will not be affected for any missed payment(s) for the insurance
plan purchased. The loan insurance is set for 890.00 and is 5 years credit & Liability insurance plan. The borrower must maintain
payments for a minimum 8 to a maximum of 12 months without default, for the credit & liability insurance premium to be
refunded.
they called after numerous time confirming 10k deposit was going to maid. Now client got call for an additional 990$ for additional security fee.
loan never materialized. They also mention they can get residential and commercial mortgages and they are not Registered with FSCO. loan document has different address 344 Mainway Burlington. this 3344 Mainway Burlington is listed for rent by Realtor. the 890 was deposited via email transfer to Steven Price and was not sent to company direly. The needed the 890 right away as they underwrote loan and found lender and could not wait till next week or end of the month.
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