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Subject:
Loan question!
Category: Business and Money Asked by: shoaib-ga List Price: $2.00 |
Posted:
18 May 2004 20:22 PDT
Expires: 17 Jun 2004 20:22 PDT Question ID: 348565 |
In the following 'terms and conditions' website address of Global Funding Visions organization or http://www.gfviz.com/home/ it is written that "Depending on the lender, we may request that the lender pay some or all of the fees due us. You agree in advance to such arrangements in that event." so therefore I want to know that what is the "meaning" of that mentioned sentence so that I shall be able to 'apply' to that organization for international mortgage loan?? |
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There is no answer at this time. |
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Subject:
Re: Loan question!
From: tm_attorney-ga on 18 May 2004 21:51 PDT |
Why do you care? It's between that organization and the lender. They deal wtih various lenders. You are not a lender; thus, even if they asked the lender to cover fees, your situation is in no way altered for the worse. |
Subject:
Re: Loan question!
From: elwtee-ga on 19 May 2004 17:52 PDT |
on the other hand, four fingers and a thumb, you might care very much. while you are not a lender or part of the organization, you are being asked to agree to something, in advance, and you clearly don't know what that something is. i, for one, make it a practice not to obligate myself contractually without understanding my obligations. while it does appear fairly benign, it is out of context. it also seems a bit odd that anyone would need your agreement to conduct business that doesn't include or effect you. so maybe it does in a way not apparent from your quote and that is why they are demanding your agreement in advance. in search of greater clarity i went to the website but did not find the section you are quoting from. having not found greater context, i cannot offer greater insight as to what you are agreeing to do or not do under certain circumstances. you might consider, and i know this is a wild suggestion, contacting the maker of the contract and asking them to explain what it means and then posting that explanation for review and opinion. in the alternative, and this is a bit wacky too, entering into contractual lending agreements might suggest that you have your very own personal attorney take a look at it before you sign up. an ounce of prevention, even in the era of bushenomics, is still worth a pound of cure. ah, free advice. now wasn't that worth at least five times what you paid for it. |
Subject:
Re: Loan question!
From: jamespro-ga on 22 May 2004 11:06 PDT |
That sounds like a disclaimer meaning "we may add a fee or take a commission payment, with the amount we get bundled into the price of the loan". This is problematic if it causes them to favor a lender with a higher commission payment or allows them to otherwise conceal fees from you. One self-defence measure for you is to ask for a full disclosure of all fees, including any fees and commissions paid by the lender. |
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