Charlene Wohlhart Commercial Real Estate Financing Advance Fee Fraud
This person, Charlene Wohlhart, runs a website called Real Estate Investors Financial Group.in looking up her phone number, 773-444-0411 we found her address as 5230 N Oakview Chicago, IL 60656. Its an apartment building (as located on Google maps):
So apparently this "so busy I can't call you back for two days" so called "loan broker" has to work out of a small Northside Chicago apartment. Hmmmm. Ok.
Let's delve further:
Now, good ol' Charlene has a "huge" private investor "Anthony" who has billions of dollars (and a good heart) that is willing to provide "Guaranteed Funding" at 5 3/8, no, 6 1/4 percent.
However, there is only "one catch" as she puts it. You have to have a "Standby Letter of Credit from a top 25 bank.
Red Flag. It is RARE that you will ever get a "Standby Letter of Credit" unless you already have practically the equivalent amount in assets to back it up. And if that were the case, you'd would not need a "Standby Letter of Credit" for any private lender for real estate deal. Just trust me. It doesn't work that way.
Ok, don't take my word, just ask the SEC:
Http://www.sec. Gov/divisions/enforce/primebank / howtheywork. Shtml
Let's keep going:
Now, after finally getting "Charlene" on the phone, (because she's soooo busy [yes scamming people]) before I can even tell her what I plan to do, she cuts me off to tell me about how this generous Billionaire private lender requires - dun dun dun - a federal level "background check" to ensure that the money is not going to terrorists, the mossad, gangsters, etc. (I almost started laghuing, but I held my tongue).
Now to the good ol' Advance Fee Fraud part. This "mandatory background check will cost you $5000.00 UP FRONT. This is even before you have filled out any loan request documentation or she even knows what you want to do with the loan.
Well, if you don't already know how advance fee fraud works, check it out here:
So anyway...
The point of this post is to warn people about Charlene Wohlhart and Real Estate Investors Financial Group.
And if you need futher proof that "Charlene" is not exactly a paragon of virtue and trustworthiness, you can also see that she had her real estate license revoked because she apparently writes bad checks and doesn't pay the bad debt according to the Illinois Division of Professional regulation:
"Charlene A. Wohlhart March 12 The real estate salesperson license was terminated for failure to rectify a dishonored check that was tendered to OBRE."
Here's the link:
Bottom-line lessons:
1. There are no mysterious billionaires (and they are always unknown/mysterious/generous) giving out "Guaranteed Loans"
2. Real lenders, whether private billionaire individuals (he he) or regular banks are NOT going to charge you large application fees or large up-front "due diligence" fees. You know who charges large application/due diligence fees?
Dishonest (and typically unlicensed) "loan brokers". That's who.
3. There is no such thing as a "guaranteed" loan. They do not exist. Repeat. "guaranteed" loans do not exist.
Anyone telling you that you are guaranteed to get any loan without credit or collateral (and this goes even with a so-called Standby Letter of Credit) either does NOT know what they are talking about, or is SCAMMING YOU.
I have a real problem with people who use other's desire to make their lives better (by starting a business and looking for financing to run it) to scam them.
It is the lowest of the low to me.
Keywords:
Advance fee fraud, real estate, commercial, loan, lender, private, investor, investment, standby letter of credit, bank, guaranteed, scam, Charlene Wohlhart, Real Estate Investors Financial Group
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