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Am I being scammed?

I have been dealing with a Mr. Richards Campbell of Skyeline Home Financial in Napa, California who is willing to loan me over $8000 at 2% interest if I sign the contract and send him $395. His phone number is also associated with the same phone number as Vince Gardens Global Private Lenders in Colby, Ks.. Since I am a retired San Diego Superior Court Clerk and my husband a retired Deputy Sheriff we are concerned we are being scammed - has anyone else had any dealings with either of these companies? by lmitch_178_932 from San Diego, California. Jun 23rd 2012 Reply


Gary H (Mod.Specialist)
#71 ranked lender in New York - 25 contributions

http://www.skylinefinancialcom.comThere website above - see they have been around less than a year, Google found no complaints. 2% for $8,000 is a very low rate. What is the $395 for? Is this a loan origination fee? If you pay them, do so via check so you have bank proof you paid them. Before 90 days if nothing has happened, get a police report stating you paid for something and didn't get anything in return, take to your bank and do a check reversal. People do this every day, most banks will honer your request (check with them first on their procedure).

Jun 23rd 2012
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

In Arizona there is a department called the Arizona Department of Financial Institutions.. Any company who lends money must be registered and follow strict rules.. I'm sure CA has a similar department.. you might use your law enforcement background and see for yourself if this company is legal and legitimate. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Jun 23rd 2012
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

Not sure this is a site for mortgage questions. It sounds a little fishy to me though.

Jun 23rd 2012
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Larry Gray (lgray_312_247)
#597 ranked lender in California - 1,139 contributions

The company does not show up on a search of online "White Pages" nor could I find it via google. I would think withoutproper references or anything to go on you would not proceed until you are comfortable he is who he says he is andhis company is legit. I have resided very near Napa County and done business there for number of years, but mayhave not heard of other companies falling under the radar as well.

Jun 23rd 2012
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Larry Gray (lgray_312_247)
#597 ranked lender in California - 1,139 contributions

One other suggestion...search "cash call" online. They are legit but have to charge many times the2% interest rate for small loans without collateral. Why would Skye Home Financial only take 2% for some much risk? Who would one send $8000 at such a low interest rate in return for $395? By the way...I have seen the small loansfrom Cash call on people's credit reports. Payments are high and the borrowers sometimes have much more strugglewith paying them off then a typical credit card! If someone is willing to give a 2% interest rate for this risk, then more lenders would do so with home equity as collateral. Typically, someone unable to secure a good mortgageloan might get a "hard money" loan. In return the investors want alot of money up front and a high interest rate.They almost never loan on a property wherein owners have less than 35% equity in the property.Possibly someone who might disappear with your money?

Jun 23rd 2012
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Dan Paladin (dpaladin)
#1 ranked lender in California - 743 contributions

Sounds odd to me, $395...could be just tossed out the window, in my opinion....red flags going off.....be cautious..

Jun 23rd 2012
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Bill Ladewig (bill@yourfhaguru.com)
#362 ranked lender in California - 34 contributions

Doesn't sound right, I would look somewhere else closer to home.

Jun 23rd 2012
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Ed Craine (ecraine)
#355 ranked lender in California - 23 contributions

I would go by the old adage, "If it sounds too good to be true..."Why would somebody who doesn't know you be willing to lend you $8,000 at 2% interest? Would you loan somebody you didn't know $8,000 at 2% interest?

Jun 23rd 2012
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Stephen McWilliam (StephenMcWilliam)
#137 ranked lender in Florida - 45 contributions

That's a common scam. Tell them to send you $7605; $8000 net $395. You then owe them $8000. It won't happen but they will know you're onto their scam.

Jun 23rd 2012
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Blake Kleckner (BlakeK)
#391 ranked lender in California - 261 contributions

DON'T DO IT!!!. Why would anyone you don't know loan you $8,000 at a 2% interest rate when consumer prime is 3.25%? There's definitely no money in it for the benevolent lender. Stephen's suggestion above is an excellent one. However, even if Dick agreed, chances are you would be sent, what appears to be, an authentic cashiers check or money order, which would turn out to be phony. I played along with someone just like this a few months ago on the internet to see what would happen, didn't send any money, and sure enough I received what I just described. It's absolutely astounding how sophisticated the scammers on the internet have gotten. They really need to get a life and stop trying to steal people's hard earned money. If you request what Stephen suggested, ask Dick to send you the green stuff in a plain, brown paper wrapping. Cash is king! On another note, if you are interested in purchasing or refiniancing a home, I can assist you. Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to discuss your mortgage loan needs. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing 39 quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody.

Jun 23rd 2012
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

I honestly dont see how you being a retired court clerk and your husband being a retired officer would make you concerned of a scam. Frankly, no matter what line of work you are in you should be concerned this is a scam. First of all I don't care what state you are in if this person is representing his company and is willing to loan you money, you need to report them immediately. I doubt his company is allowing their employees let alone their LO's to lend money from their own pockets and use the company name to either create trust or validity to their service. Don't take it from me, take it from the millions of people that get scammed on a regular basis from everything ranging from personal loans to a percentage of millions all if they pay an upfront fee. And no one refers to themselves as a Mr. or Mrs.this has fishy written all over it. I advise that you go to a reputable bank or local credit union.

Jun 23rd 2012
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Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,336 contributions

I'd turn around and head for the hills. There is now way in today's world that you should pay a fee to apply for a loan. Under California law, a mortgage lender is not entitled to collect an origination fee until it is earned, which by definition is when escrow closes. Sounds to me like you send off $395 hoping for a loan and by then it will be too late to get your $ back. If this is an unsecured loan, then 2% as an annual rate is way too low. Although it may be possible that this is a legit offer, every fiber of my being is screaming "scam". ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

Jun 25th 2012
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