Were You Approached? - Posted by Tevy
Posted by Tevy on February 26, 2001 at 11:58:36:
I’m a newcomer to this website. I’ve found the information very useful. I’ve read the posts and the CS coaching program doesn’t get good recommendations.
I’ve had the No Money Down program for a few months. I’ve read the book, I’ve listen to the tapes. But I just can’t seem to take that initial step. My credit is shot, chapter 13 bankruptcy. I have very little money to work with.
I was contacted by a CS representative about the personal coaching program. His sales pitch was a good one. But there was something that didn’t sound right. I was told that they did not wanted me to pay for the course with money out of my own pocket. But in the same breath, I was told I needed $1000 to establish an account with a credit union. By doing this I would be able to establish a $5000 line of credit. Part of which pays for the cost of the personal coaching. The balance will be used only on investment deals and costs. It would take 2 months to do this. It sounds strange.
Has anyone had an encounter like this? Has anyone tried this? Does anyone know of any REI clubs in Memphis, TN? There are a lot of good HUD foreclosure deals here but because of my bankruptcy I can not get a loan of any kind. Help me please.