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Nesgroup address: misc.consumers.house - Date & Time for the message: 17 Jun 2005 21:39:12 -0700 /

Author of the message: roger61611@yahoo.com

Title of the message:
Re: The Money Store - Too Good to Be True?

Text of the message:
I am guessing you are not old hands at investment property financing.
Eight percent closing costs is very strange.  The Money Store is one
step above loansharks, do a google search on both these terms together
-
     "money store" "attorney general"
Common sense would indicate that the $396 / month payment is awry.
Five percent *simple* interest on $119,000 is about $500 a month.
I suggest you find a lawyer that deals in real estate stuff, and pay
them for an hour's time to look over the contract before you sign it.
Around here it's $125 or so (midwest US).  Better that than possibly
getting screwed by your 'friends' at the Money Store.  If the deal is
really great, your lawyer will point that out too and you will have
peace of mind at a low price.
You can find a lawyer here, for example:
http://lawyers.findlaw.com/
.



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