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Q: Loan question! ( No Answer,   3 Comments )
Question  
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??
Answer  
There is no answer at this time.

Comments  
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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