ASM Financial Funding Corp.
I didn't know where to put this post so I figure this is a good enough spot. Has anyone ever heard of ASM Financial Funding Corp. and their "Loan Warantee" program? It sort of makes sense but then again I'm kind of gullable....What do ya think?
If you explain how the warranty Program Works, I can probably give you a good opinion on whether it sounds right or not.
I figure it would be best to quote from their website so here it is.
"The Loan Warrantee™ Program is designed as a service that gives everyone the rare opportunity of owning your property free and clear, in three (3) to five (5) years. This program gives you, the borrower, a chance to make money off of the equity in your property. The Loan Warrantee™ Program can also be used to purchase other properties from which additional income can be made. The borrower makes only 36 to 60 regular monthly payments, after the purchase of the Loan Warrantee™ and will receive a contract or a certificate for entering "the Loan Warrantee™ Program." The Loan Warrantee™ acts like a bond or a CD that matures in three (3) to five (5) years from the date received. When it reaches the maturity date, it's cashed in for the total amount of the loan. This allows you, the borrower, a chance to pay your loan off, in full! You will receive a check or a money transfer for the entire amount of the loan, depending on how much you purchase the Warrantee for. The cost plus interest, of the Loan Warrantee™ is fully guaranteed by ASM Financial Funding Corporation.
ASM Financial Funding has been in the funding business, and a member of the American Cash Flow Association's Million Dollar club for nine years. We also have a monthly editorial in the American Cash Flow Journal, an influential magazine for major funding sources throughout the world.
ASM Financial Funding Corporation has gone to great lengths to bring you this unique opportunity of owning your property in as little as three (3) years! Our exclusive mission and commitment, is to market this dream of owning your property free & clear to everyone in the world, domestically and internationally.
You may use our Loan Warrantee™ program as a tool to help you become financially independent in just a few years. If you are now financially independent, and successful in whatever business you're in, then you can use "the Loan Warrantee™ program" as your own funding source, to finance other large projects, and/or to expand your current business and other projects that you have been dreaming of doing!!!
Now is the time to refinance, rates are at a 40-year low!!!
There are several reasons why a person wants to refinance their property.
Two of the most important reasons to borrow are:
1. Everyone wants a lower interest rate.
2. Everyone wants to be debt free, and get rid of high interest rate credit cards, and other bills. (Consolidate)
These are two great reasons to refinance your property, especially now when the rates are at a 40-year low! You can save up to $500.00 or more every month, just by refinancing now!
Consolidating can enable the borrower to be debt free, and get rid of high interest rate credit cards, and other bills. This is the perfect time to do that! ASM Financial Funding can also assist you in deleting your debt, through our debt consolidation program.
You can refinance your property to own it, and make the loan work for you again by paying your loan off through the Loan Warrantee™ Program in 3 to 5 years. The cost of the three (3) year program is 25% of the loan amount (determined upon approval) using the Loan Warrantee™, you can add protection when consolidating your debts, protecting you from getting back on that old 30-year loan, saving you hundreds of thousands of dollars. The cost of the five (5) year program is only as little as 17% of the loan amount!
The Loan Warrantee™ Program provides the help, and protection everyone needs, to become debt free. Better yet it enables you, the property owner, to obtain income from your property, which would ordinarily just be sitting there doing nothing. When we at ASM Financial Funding, refinance your property, we allow you to use 17% of your equity, to pay the cost of the Warrantee. It is a fact that after 8 to 10 years you have paid for your home. We at ASM Financial Funding believe that your loan has stopped working for you at this point and only works for the lender. Your loan worked for you in the beginning, by helping you get into your home, automobile, yacht, etc; loans work for the borrower on a short-term basis. The longer your loan is stretched out, the more you pay. When a loan is amortized for thirty years, you pay approximately four times the amount originally borrowed . Clearly that loan is not working for you!!! That's why we offer you the protection of the Loan Warrantee™.
How does this work?
You begin by utilizing as little as 17% of the equity from the loan amount to initiate participation in the program. While you are waiting for the Loan Warrantee™ to mature, you still need to make your regular mortgage payments; however, you only have to make 36 to 60 payments instead of 360 payments! You are now just waiting until your Loan Warrantee™ reaches maturity, so you can get all that cash!!!
No, you do not need to have a (5) five-year mortgage, or a balloon payment. Your mortgage is amortized for 30 years. The 17% that was taken from the equity is now working for you. It will protect you from 25 years of the debt of that loan, because it will mature 25 years before the duration of your loan. Yes! We are also going to get you the lowest interest rate possible depending on your credit profile and ability to pay back the loan. We deal with more than 300 banks and lending institutions. We attach the Loan Warrantee™ to the loan; no one else can do that, but us!!!
The possibility will exist for the recipient to refinance again, after the five (5) year term only this time you own every dime in that property. You have the option of doing it all over again, providing yourself with additional money to put into investment properties. At this point, ASM Financial Funding suggests that the recipient purchase more property, and put the Loan Warrantee™ on those properties, so that the recipient now starts making money where they would not have been before.
Here's what makes the program work
Since the inception of this wonderful opportunity we have been bombarded with questions. The main question is, "How can you do this? That is about a 46% interest rate a year." Our answer to this question is “We know it is about 46% a year, but depending on one's position and knowledge of investing, one can get a 92% a year yield on their money. This can be verified by picking up a money magazine. To get a yield like that you must invest about $5,000,000.00. Depending on your investment knowledge and availability of funds, and the connection to the right people, you can get this type of yield!”
ASM Financial Funding has been in business for 11 years. Our knowledge and connections in the financial industry, allow us to put these Warrantee funds in an account that generates large profits with limited risks. You, our client, can enjoy the benefits of owning your home "free and clear" with our Loan Warrantee™! The process we use is the same process used by insurance companies. When they tell you they'll give you a $200,000.00 life insurance policy for about $26.00 a month, your monthly payment is used by the insurance company to invest, in order to be able to payout the insurance benefit when the time comes. Some other examples are retirement funds, health plans, and your car insurance, where your premiums may be about $3,000 a year, and the insurance company's liability is $300,000. Why would anyone take the liability of $300,000 for $3,000 a year? The answer is, they can make about 1000% or better on that $3,000, plus all the millions of $3,000 they are collecting, for their investments.
This process is also used by some of the largest employment unions in the world. These types of businesses use private investment programs, and "hedge funds," therefore enabling them to generate large profits. Investing in hedge funds tends to be favored by more sophisticated investors, and many top world banks. It is estimated to be a $400-$500 billion industry and growing at about 20% per year, with approximately 7,000 successful hedge funds. ASM Financial Funding uses major world banks and major world trust companies which have successful trading records for as long as 80 years. We also use private investment programs such as a "hedge funds", therefore enabling us to generate the returns in the full amount of the loan, and to fund our program. The service we provide is a wonderful opportunity that works for our client, by protecting them from 25 to 27 years of debt from their loan " (http://www.asmfinancial.com/eas.html).
There you go.
Yes some investors get a high rate of return. But they will not do it every year. And making a promise to pay of your loan in 3 years expecting these high rates of return is crazy.
My guess is that it is a scam and they can run it for about 4 years before they shut it down an keep your money.
That's what I figured. Nobody at the company will answer any of my e-mails so I figure they can't do what they say. Thanks!
If it sounds too good to be true...
Sounds like a pyramid or Ponzi scheme to me. The first few suckers - oops i mean investors might make some monety, but it will collapse on itself in a short time.
Stormy
Theres a post on here about them I think or about another loan warantee place. The guy that was supposedly with the company answered every single reply to the post... with a very long answer. Thats a first.
I've been looking for it but I'm not able to find it. I don't like the search feature for the boards, it's not very good, either that or I just don't know what I'm doing. Either way, I can't find it. If anyone does find it post a link I'm sure we'd all like to read it.
Thanks
Quote:
On 2004-01-01 13:11, kingmonkey wrote:
That's what I figured. Nobody at the company will answer any of my e-mails so I figure they can't do what they say. Thanks!
If you have never talked to ASM people, how in the world you could explained so wonderfully all the system? Where do you got all these information? Thanks for the info.
Elynda
[quote]
On 2004-01-01 19:23, Elynda wrote:
Quote:
If you have never talked to ASM people, how in the world you could explained so wonderfully all the system? Where do you got all these information? Thanks for the info.
Elynda
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Kingmonkey wrote:
" I figure it would be best to quote from their website so here it is".
[ Edited by norrist on Date 01/01/2004 ]
Hello all! Doesn't this sound like a really crafty way of marketing a reverse mortgage?
LAcashman - I am especially interested in your thoughts here...
Hey,
WOW!!! I am overwhelmed with the comments I want to make here.
Here is a very, very quick BS test.
1) If someone sends you a letter (e-mail, ad on their website, etc.) that goes on and on and on about how great their product/service is...it is BS.
2) If 90% of their "information" is designed to get you excited and the other 10% are unsubstantiated statistics...it is BS.
3) If their product/services is based upon a "super secret, little known fact"...it is BS.
4) If their facts "warp" true fiancial systems to prove their point...it is BS. ( "Why would anyone take the liability of $300,000 for $3,000 a year? The answer is, they can make about 1000% or better on that $3,000, plus all the millions of $3,000 they are collecting, for their investments." Insurance companies DO NOT make 1000% return, nor do they have a $300k liability for $3k payment. They have a very, very small percentage of $300k liability for the payment. That is what Actuarial do.)
5) If you have never heard of them before...it is BS.
I hope that helps!
Quote:
On 2004-01-01 20:26, caterina wrote:
Hello all! Doesn't this sound like a really crafty way of marketing a reverse mortgage?
I am going to guess that the person who came up with knows about a reverse mortgage. But I still think that this is a scam. They would have to have a very high rate of return on the investment to pay off the mortgage in that time frame.
Let me propose this to anyone who is interested. Take the cash out refi. then you use the cash yourself. Don't spend it invest it in RE with positive cash flow. Take this cash flow and pay down your mortgage. After five years sell it and take all profit and pay down your mortgage.
This way you stay in control and you do the same thing.
My guess is that when you see what can be done with RE you will not want to pay off your mortgage. Especially if rates go up and your locked in at todays low rates.
I recieved an email many months ago and posted a reply in a different forum.
First I have not and have no plan of investing in these type investments.
It was explained to me that they take the investment money and place it in a hedge fund and options. Very posible to get these gains, BUT if the market takes a turn your money is the first to go. We had money in a hedge fund. (had) You can do this without the help of these investment companys. Is it posible, Yes. It has nothing to do with wrap mortgages, or even real estate. It was explained using mortgages due to set returns.
Read for yourself.
WE DON'T AND WILL NOT INVEST IN THIS NOR IS IT A SUGGESTION.
http://www.gateway4capital.com
If you want to invest this way it can be done out side of the RE world with your private money. Read about it and form your own opinion.
Best to you
Sire
I recieved an email many months ago and posted a reply in a different forum.
First I have not and have no plan of investing in these type investments.
It was explained to me that they take the investment money and place it in a hedge fund and options. Very posible to get these gains, BUT if the market takes a turn your money is the first to go. We had money in a hedge fund. (had) You can do this without the help of these investment companys. Is it posible, Yes. It has nothing to do with wrap mortgages, or even real estate. It was explained using mortgages due to set returns.
Read for yourself.
WE DON'T AND WILL NOT INVEST IN THIS NOR IS IT A SUGGESTION.
http://www.gateway4capital.com
If you want to invest this way it can be done out side of the RE world with your private money. Read about it and form your own opinion.
Best to you
Sire
I think the Godfather would respond to such an offer with:
"Tell me, why am I so privileged to received such an offer?" "I'm sorry, but I must tell you no, but good luck to you as long as your business doesn't cross mine."