WHAT HAPPENS WITH THE PROSPECTIVE BORROWER CALLS ME?
You simply present your situation (in confidence). I ask many questions and determine whether I can assist you.
- If I feel we can take the next step in obtaining you a loan, we will further our discussions and give clarity to whatever information you need to decide if you want me to move forward. I will prescribe an overview of what exactly you will be required to perform during the life of the loan and upon your approval will come to visit the site of the purpose of the loan or the location of the collateral being used.
- If we are all in agreement, you will then along with signing the Term Sheet give me a check for $2,500 – $3,000 dollars which will be applied to all fees such as title as well as legal. If by chance you decide to withdraw during this process, depending on your timing, whatever dollars have not been applied, I will return the remainder. I DO NOT MAKE OR TAKE MONEY FROM THIS DEPOSIT. However, if my attorney spends significant time on preparing the loan documents or title search I need to pay him for his time and expenses.
Finally, depending on all the information you have shared and as long as we have not found some major defect in your application, the loan will be expedited as fast as we realistically are expected to perform.*
*The time it takes from the introduction of the candidate to the transferring of the dollars can take as little as 7 business days to three weeks. On several occasions loans will delayed due to the borrowers attorney not responding in the most expeditious fashion.