Certificate of Deposit

Posts Tagged ‘Certificate of Deposit’

Question: Good day,i received a message in my mail box on 21/04/2008 notifying me that i am one of the selected winner o

what am try to say is that i received a message notifying me that i won a total prize of 800,000.00 GBP from Yahoo Aword and Window Live promo,the message was sent by one mrs rose kelit she told me to contact my caim agent dr.Godwill Alex in oder to claim my prize i was giving his mail address and phone no when i contacted him he told me that i have to contsct a bank by name NATION WIDE BANK PLS that that was where my prize was deposited temporarily since then i have been comunicating with him and also tthat Bank when contasted the Bank i was told to provide my proof of my id card,a yahoo aword winner certificate and an affidavit claim and letter of attestation from british high court of justice in ingland that immediately i provide that my prize will be release to me but i am in Nigeria i can not come to UK for that so that caim agent now told me that i have to contact a loyer for that before i can get it now i want to no does your company have any surch of aword for your costomer?

Answer: I am sorry to tell you that you are being scammed. Please contact a credit bureau and put a fraud alert on your credit reports. These people will continue to put blocks in your path to your prize. What they are after is your ID and, if possible, some of your money. They will soon say if you pay a large sum up front you can get the prize and at that time once they have your money you will never hear from them again. At least until someone else starts using your identity.

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Question: Best bank with high interest rates on certificate of deposits(CD’S)?

Looking for a bank, or something, that will provide me with a great return on my investment. Has anyone heard of Capital Bank of Mexico?

Answer: I would check out internet banks. They usually pay higher rates than your neighborhood banks. Internet banks are just as much FDIC insured (to protect your deposits) as your neighborhood banks are.

Question: Is it ok to ask home builder to modify the contract to refund the deposit if loan is not approved?

I am about to sign a contract w/ a home builder to build a house. This is what’s in the contract, “After delivery of the mortgage approval certificate, if purchaser is unable to complete funding of its financing or if purchaser fails to close the purchase of the home site for any reason other than seller default, purchaser shall be in default and seller shall be entitled to terminate this agreement and retain the deposit and all advances made by purchaser, not as a penalty but as liquidated damages.”
I feel that this is not fair and I want to ask the builder to revise it so I can get my deposit back if I’m not approved w/ a loan. I like to ask everyone’s opinion first. Any comment/suggestion will be greatly appreciated.

Answer: Haven’t you already been pre-approved for a mortgage?

If not, that’s the first step that has somehow been missed.

And that’s very weird. The builder should not want to start buidling a home for a buyer who has not been pre-approved for a loan.

Find a lender and get pre-approved. Then sign the contract.

If you have already signed the contract and have mortgage approval, then in the final stages the loan is denied for any reason not allowed for in the contract, then the builder wants to keep your deposit. This is reasonable. If you want to prevent this from happening, then you need a tighter contract.

But the reason why contracts are written that way is because there are ways the borrower can manipulate things so the mortgage loan is denied at the very end.

Good luck.

The People’s Court- “Having an Illegal Rental”