IMFunders offers loans based on CD backed loans. Their website says no collateral is needed (they will provide it). They are very vague about what will be sent and tell you that your money is to cover the cost of moving a CD from an investors account to your bank. And tell you the money is 100% refundable. It sits in escrow until the transaction is fully executed.
When they send you documents they redefine the money sent as a fee and in more than one place state the CD CANNOT be used as collateral even though they falsely indicate that collateral will be provided on their website.
Also they informed me that nothing additional would need to be paid until after I received my money. When the document came via email, it indicated an additional 5% of the loan value would need to be paid in order to start the process. This was also not disclosed until after they receive your initial payment.
PLUS after they receive your money they will not answer your calls or talk to you at all.
PLUS the documents indicate you will fax a form to World Bankers (it doesn't exists) to start the process. They also have a person in NY who acts like a compliance department for World Bankers. Not so...
They only deal with cell phones and no land lines will reach anyone. The phone numbers I have are: 305-898-1239 (Tim Mahoney)
I have two other numbers I will publish but don't have them in front of me. These people will steal your money. Don't deal with them at all...
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