Gemancer Inc. Real Estate Course Important!!! - Posted by T.J.

Posted by Froggy on August 24, 2003 at 24:59:14:

That sounds like fraud to me. If they told in writing that you would get a list of sources and you didn’t get it, then that’s fraud.

Call your credit card company and have it charged back. Then contact your state attorney general, the FTC and the FBI.

Gemancer Inc. Real Estate Course Important!!! - Posted by T.J.

Posted by T.J. on August 23, 2003 at 21:58:25:

I bought the Gemancer course to get the so called Secret Source, only to find out that the secret source is hidden behind a contact, and only the Contact/Gemancer knows the real Sources.
The Contact isn’t a Broker or a Lender, the Source is the Broker and/or Lender.
The Contact will not give you the Secret Source’s information.
In order to use the so called Source, you must pay the Contact $225.00 to forward your information.
Then, the Contact will call you to tell you if there Source was able to find a loan.
The Contact is doing the same thing that Gemancer is explaining how to do on the mailer they send out to recruit people, only on a much larger scale.
There is no need for them to run ads looking for Bad Credit Applicants anymore, because they have built a pyramid of customers who purchase there course.
That means $225.00 Per Customer Per Bad Credit Applicant all over the USA to One Contact.
Adds up quick huh!
When you order the course they do give you a list of Lenders, but don’t use them except with your own purchase.
It is Illegal for anyone who is not a Broker or a Real Estate Agent to collect a Fee to set up loans for other people.
For this you need a LICENSE!!!
Believe me, Brokers would not waste money going to school if it wasn’t needed.
So the list of Lenders they give you is absolutley useless unless you want to buy the home for yourself.
But you can find a better or equal Lenders for Bad Credit, in your own City or the Internet.
So, you are still forced to pay there Contact, to get to there Secret Source.
So my question is: Do You Think This Contact Is Working Alone, Or Is Gemancer’s Partner, And Splitting The Earnings?

Read Question/Answer #1
Just in case it’s not there anymore, Here It Is:

  1. Are there any licenses that are required to do this?
  2. No, no licenses are required. Our broker, which is the same broker you will be using, handles all the legalities and licensing necessary to get funding for loans. You are merely doing the “groundwork” by doing the preliminary paperwork. You will forward that preliminary paperwork to the broker and he sets up the official paperwork as well as getting the loan funded. Because you are not the person actually submitting for the loan as a broker, you do not need a license.

Funny… I got that same flyer…lol - Posted by Jorge

Posted by Jorge on August 24, 2003 at 19:59:39:

And he says its only for the 1st 100 investors… hilarious…I wish I could be deceptive… it would be alot easier to make a ton of money…To each his own I guess…

Re: Gemancer Inc. Real Estate Course Important!!! - Posted by Ricky

Posted by Ricky on August 24, 2003 at 01:06:19:

What they are doing is not technically illegal, but its certainly in a gray area of the law. I mean I know companies that hire loan originators and that’s what the program seem to be, but to pay $244 for a company that uses a Frontpage themed website…

Check with a local real estate attorney about the legality of what they are doing. If what you said is true, it seems like the is real scam.

If you paid with your credit card I would have it charged back and check your credit report.