World Lending Group?

Has anyone heard of this company? Any commentrs would be appreciated.

Bob

Comments(13)

  • davehays16th December, 2003

    MLM company where you can actually make money by not recruiting anybody, but by writing loans.

    However, because of this, you can expect to make less points per loan than you would on your own, because more of a percentage of gross monies earned, after WLG is paid, goes to your upline.

    Seems like a decent company, and I may join myself someday so I can get in on the whole pie.

    Also, you are a W2 employee of theirs, which allows you to write loans in any state without having your own broker's license. Not sure of the negative tax consequences of that yet...Best, Dave

  • klgl2216th December, 2003

    I just visited the site. How do you find out about the company before you sign up? Every tab seems to take you to a login page.
    Thanks
    Kecia

  • davehays16th December, 2003

    simply go on to that site and poke around the links, should be plenty of information about the company on there.

    Best, Dave

  • kae5716th December, 2003

    Bob,

    They might go big in a few years...but like a lot of MLM's their products are pricey. I can get a much better rate on a 3 month adjustable, interest only loan locally.

    Plus I asked about a one month adjustable interest only loan, which they don't offer.

    Kevin

  • southernbg16th December, 2003

    Hey All,

    I have to say that I have had a very good experience with WLG. I found a guys that was already a Mortgage broker and came in with him...It makes it easier for me to learn.

    I would recommend if you do deside to join WLG, that you find and upline that knows what they are doing and that can help you get started.

    Just 2 cents!

    Southernbg[ Edited by southernbg on Date 12/16/2003 ]

  • RERagsToRiches19th December, 2003

    Hi,

    Does anyone know what kind of sub-prime loans WLG offers. I cannot find any info on this on their site.

    Thanks,

    Jim

  • InActive_Account20th December, 2003

    Quote:

    Also, you are a W2 employee of theirs, which allows you to write loans in any state without having your own broker's license.


    To do business in several states you will still have to get training and get licensed as a mortgage originator.

    I had a very bad experince with them. So started doing reasearch on the owner. I wish that I had done so before signing up.

    Here is two links to info about one of his companies that is no longer in business. http://www.wfg-offline.com/moneymag/page1.htm
    http://w3.ripoffreport.com/view.asp?id=4700

    Do your own investigation of them.
    [ Edited by lacashman on Date 12/20/2003 ]

  • southernbg20th December, 2003

    I will say that is always to side to every story when it comes to EVERYTHING. I would encorage you to do your homework. Just like Lacashman points out the bad....I will point out the good. WLG is part of the BBB.

    Please please do your homework and do NOT take anyone word for anything. You will never get a perfect answer. It is your call and no one elses!



    Southernbg

  • eliteprops20th December, 2003

    Hey All

    Does anyone know what it cost to get involved with WLG. I have never seen what are the cost involved.

    So for those of you involved with the group what are the cost to start up with there Company. Just curious over here

    Regards,
    Elite

  • Money123420th December, 2003

    Elite, I've been to a few meetings and the start up cost are aprox. $200-300 at first. Everyone has failed to mention WLG is a multi marketing type co. or pyramid. The funny thing was at the meetings I attended all I met were very wealthy people promoting the co. but no avarage joes. I've had 3 different people contact me at different times wanting to recriute me. There main hq. is in Atl. Thanks, JW

  • InActive_Account20th December, 2003

    There are two side to the BBB also, I used to sell membeships for them. I can't say that I put much stock in a company being a member of the BBB. They pay for the memberships, cannot advertise BBB goodstanding without being a member.

  • southernbg20th December, 2003

    Wpruett,

    I do understand where you are coming from as far as the membership part of BBB but that also does not stop people from reporting to the BBB about claims that they have about a buiness.

    Membership or not!

    I also have to say that I did not join WLG to recurit people. I wanted to be able to make some extra money on the side to help me with my REI career...and what better way than to be able to do loans for people ( seller/buyers or just the average joe)

    I do not plan on making a living on WLG just another source of income for me.

    Southernbg

    [ Edited by southernbg on Date 12/20/2003 ]

  • Kozlowski22nd February, 2004

    Thank you to lacashman for your post and sharing the "rip-off' reports.

    My first reaction...A Nightmare Revisited.

    As soon as I saw Primerica in the reports I felt ill. These type of companies are preditors. Most of the scheme is forcing you to buy products. They disguise the method by saying "... if you don't have the product or service, how do you expect a client to want it?" You can make money if you find people that hold faith dear and can fork over a few hundred dollars here and there then the monthly payments on what you force down their throat. All in the name of becoming a 6 figure Earner.

    Do Your homework and read and listen to all you can. These nightmares did not just come out of a horror movie theater they happened to real people, like you and me trying to become independant business associates to live a better quality of life.

    My curiousity is the BBB. GA is breeding these Nightmares.

    Barbaradawn Kozlowski

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