Beware Loan Predators!
You know what time it is! It’s the Daily J! Hey, hey guys! You know what I am so excited for today’s broadcast and – should I call it a broadcast? of this video or audio? Does it matter? I guess it really doesn’t
matter does it? Today’s – I’m just excited about today’s
episode; in fact I’m excited every day but today I’m really excited because
here’s one of the things: when you buy a home or refinance a home, one of the
things that you can absolutely count on is getting a lot of solicitation mail. I
used to call it junk mail and spam mail but believe not there are some good
things in there and not so good things in there. And believe it or not even people
like me when I just recently refinanced my home, literally within two weeks I
started getting solicitation mail every day. SO – today we’re gonna talk about what
to watch out for, what you should be looking for on the actual solicitation
to find out whether it’s legit or bogus! And then we’re gonna add something – a
little kicker here to it; I’m actually call these folks and
pretend to be a real client just to get some information, cuz I want to know: Hey! How
did you get my information? What made you decide to send this to me? Why did you
think I would be even interested in this? The good news is I’ve got actually I would
call two bogus solicitations here and I have one that’s actually pretty legit!
I have to give them props they did it the right way and we’ll uh we’ll do that
one actually last. So, I say let’s get started now, what do you think? Sound good?
Alright let’s do it! The way it comes to you in the mail, it
looks all official-like right? Says you know, it’s got this thing – it looks almost
like it’s coming from like the IRS or the, you know, the tax department,
you know; it says, “2019 Important Read Entire Document Carefully!” Reason: we’re in a
[name redacted] LLC, service member ID blah blah blah – And of course it’s addressed to me,
of course you got to peel the tabs off and take it you’re like okay there’s
nothing there and then you open it up and then – BOOM –
there it is what kills me is up top they put [name redacted]
and so just like no I just recently refinance a home but my previous home
was actually financed by these guys back in the day, right? And it says it’s coming
from their “VA Loan Eligibility Department Electronic Mail Division.”
Color me stupid and call me dumb, but if it’s electronic mail then why am I
getting a hard copy? Doesn’t make any sense. And then it says, “Jason, take fifty
six thousand nine hundred dollars cash out for ONLY two hundred and thirty two
dollars and twenty nine cents a month.” Hmm… that’s not right. Okay.
Call today and it says right here, “Dear Jason, your x-amount mortgage for [name redacted] has been reviewed by your local team in
Honolulu, Hawaii! You may now be able to drop your
mortgage rate and payment due to a recent drop in VA mortgage rates! Your
new rate CAN BE a 30-year fixed at 2.75!” and of course there’s a huge asterisk
right next well it’s not huge but it looks huge to me because I see this shit.
“Your new payment would be X and your APR is X!” Right? 3% then what kills me is over
here, “Number one for refinances, VA refinances in Hawaii!” Off of whose scale?
Who said you were number one? Number one in what? “As seen on the Hawaii CW, KHON2,”
like I mean it’s hilarious, right?! Benefits! Get extra cash out to pay off
credit cards or do Home improvements, like this is just totally fake, and then of
course: PS call by 13 December 2019 to lock in your benefits and respond within
5 days of receipt! See disclaimers on the back! Where are the disclaimers? Oh, here we go. Appraisals are required on all cash out loans and if discount points are paid
to buy down the rate – hm – the interest rate changes daily based on the market rate
until the rate is locked. This offer is made by [name redacted],
Honolulu and then Hawaii which is not an agency of the federal government or
affiliated with your lender. Hawaii?? Okay… Interesting.
So anyway, so let’s call these folks! What do you think? Sound like plan? [Let’s do it!]
Let’s do it! Alright! Let’s call them! Thank you for calling [name redacted] we are trying to connect you
with a licensed loan officer. All calls are recorded
for Quality Assurance. Trust me, if you thought what you’ve heard and seen so
far is crazy you’ll definitely want to tune in tomorrow because it gets batshit nuts.