Frederic Desse

Andre he is one of the many scam artists in the classifieds on this site. Notice I said in the classifieds. What Dean is teaching is LEGAL and it does work !!

Frederic Desse is just like Donya Hocket and others. They promise to loan you money for the purchase of real estate. But before , you are hit with many exorbitant fees . That is ILLEGAL -- no fees before you are funded , except for an application fee. I wrote that to Mr. Desse in our last communication this past summer.

It's always the same story with these guys -- they are either stationed in **** or Great Britain , or Europe , etc. They have to charge fees to send the money from their country to the USA -- these fees are NOT cheap !!!

So beware don't be scammed !!

Best of luck to you . You should try either hard money or transactional money like Coastal Funding.

Randy S.
Elkton Maryland

Randy S.

Thank you for the helpful info. about Frederic Desse. Do you know the website for the Coastal Funding?

Here's the site:

http://coastal-funding.com/

Vince

So how do you know if they are not scams? Are those from other countries. And if you get offerred transactional funding, HML or PML, how do you know that it is legitimate?
Sandi

Thanks Vince for the site address.

You might want to check out this website, transactional funds and proof of fund letters that are backed up by real money every time you submit your proof of funds. NOT a generic POF letter that has no funds backing it. The seller can call and verify that you are backed up with up to $600,000. That helps when making offers! It is for transactional funds only.

Check it out! In no way a scam! I use it daily!

http://www.mdtfcam.com

Good luck!
Michael Mangham
MD Home Acquisitions LLC

I will do that tomorrow morning. Thanks.
Sandi

FYI Xbolikil,

Excess upfront fees are the number one way to spot a bad lender, however, they are not always illegal. They are only illegal for residential loans, which means Owner Occupied.
For non-owner occupied, it is still the wild west. They can charge you whatever they can get you to pay.
I am certain this Desse guy knows that since he is marketing to investors like you guys.

Anyone know of a great hard money lender that lends in Maryland with no upfront fees

Try to contact the bank they tell you about. You'll find they don't have a website, or if they do, it's non-functional and the phone numbers listed on the websites go to an answering machine...not very bank like. These scams aren't just in the UK, they are in Asia as well.