Getting loans.. (WAY off topic)

Todd....!! atc347 at c-com.net
Fri May 28 15:41:52 GMT 1999


Hello Michael,

Stupid meaning what?

Do you believe that a bank giving a 'loan' to someone who puts the exact
same amount as the loan in a savings account at that bank for collateral
as bing STUPID?

They have NO risk whatsoever on that loan, plus they get the interest
from the loan when all is said and done...

That' sounds like a no risk type of loan to me as far as the bank's
concerned....

I may not have conveyed the theory well....

ANY bank will give a loan for cash as long as you give them that same
amount of cash in an account....

I'll let ya know how it goes....

The banker may ask why you would even want a loan if you already have
the money, all ya have to tell em is that you have a hard time saving
money, and that if it were in the form of a loan that you would have
more of a reason to save the money, or somethin like that...

Simple...

Easy...

Works...

Purpose is to build repore and confidence with the lender...

LATER!

Todd....

-----------

Stegbauer, Michael wrote:
> 
> > Will be goin out and gettin loans using this $3,000 as my collateral in
> > several banks in series, i.e. deposit the $3000 in one bank, get a loan
> > using it as collateral, take the loan money from the first bank, deposit
> > it into another bank, get a loan on that money etc....
> >
> > Then mak 2 or 3 payments on each 'loan' over a 6 week period using the
> > $3,000 'loan' money for payment money, then go back within about 6 weeks
> > or so and pay all of em off, then ask for a signature loan from each
> > bank for about the same amount...(signature meaning NO COLLATERAL!) and
> > do the same thing with that signature loan money... This will build
> > credit with the bank(s) as well as a relationship with em...
> 
> Wow!   I'm looking into buying some land.  If the loan officers in
> Houston are this stupid, maybe I should get a loan there.





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