Looking for 4 month loan

[Thecryptofan911]

I posted in some loan service threads but figured I’d shoot a topic for a open loan request below is the info I submitted to a few other users.

Username: Thecryptofan911
Loan Amount: 0.5 BTC
Loan Purpose: Debt consolidation until solar tax credit redemption
Loan Repay Amount: 0.655 BTC
Loan Repay Date: March 1st, 2020 (Federal government renewable energy tax refund ($8,645.68)
Type of Collateral: None But will also transfer one or two SREC (Solar Renewable Energy Certificate) to your name for holding or resale (current value in my market is $230.00)
Bitcoin Address: 1Jtm8ATzP1s1hjYCvr8J4MQojnDHm4A3vA

Side note: getting a $28,000 solar system installed this weekend. Need to free up some credit score on my fico report to lower my Debt to Income ratio. Federal government refunds at tax time 30% of my solar systems cost. If you help me out I’ll send back 0.655BTC along with two solar SREC certificates to your name to hold for a few years to see if any major advancements occur in solar driving the SREC price up past $300 or instantly resell or barter with someone for trade.

Telegram: same as my forum name

System installation specs:
https://imgur.com/Wb6vYQN

[suchmoon]

You're not gonna get that amount without a proper collateral.

And even assuming that what you're saying is true, there are some worrying things in your story. You're offering 30% interest over 4 months, close to 100% APR. That's far above even the worst credit card interest rates, assuming that's the debt you're trying to reduce. What do you need to lower the "debt to income" ratio for? If you're doing this for e.g. mortgage refinance then it sounds like bank fraud if you're planning to take a new loan and conceal it to improve your DTI. You're also shorting Bitcoin by taking the loan in BTC and hoping to use a tax refund to repay it.

[Thecryptofan911]

Is what it is I’m trying to free up Debt to income ratio so I can take out another mortgage on a property nearby to assume another mortgage and renovate and turn it into a rental. No big deal and no bank Fraud here

[DireWolfM14]

No big deal and no bank Fraud here

That's exactly what it is.  Borrowing money that doesn't show up on your credit FICO score to pay off debt, then request a mortgage based on the money that can't be traced is bank fraud.  It doesn't matter where you get the money from.  Whether it's a bitcoin loan or a loan from your family, what you're planning is illegal.  That's why when you use money as a down payment on property they want to trace the origin of that money unless it's been in your bank account for a significant period of time.

And to touch on suchmoon's other point; the interest rate you're offering is dramatically more than even the most expensive hard-money loans.  Since you have property you can use as collateral, it seems like you must have better options than what you are suggesting above.

[Thecryptofan911]

Maybe so maybe I’ll try a HELOC then. You can get around it by “seasoning” your unreported money for 60 days in a bank account. No big deal

[jackg]

Maybe so maybe I’ll try a HELOC then.

Yeah do that, but why are you trying to take on so much debt?
Is it a property company you're making here or a solar power company? Surely it's cheaper to remortgage a house than it is to get a HELOC?

[Thecryptofan911]

I am attempting to purchase a property and home that has been renovated on the inside but not on the outside and turn it into a rental property in order to apply for another mortgage my credit score has to be a certain score in order to be approved for the other loan. I just need to pay down one of my credit cards $4500 and it should raise my credit score up enough to apply for the mortgage loan for the rental property that I’m looking at.

[Thecryptofan911]

I mean I could always just wait until income tax season when the federal government refund me the 30% cost of the system but by then the house could be sold and I would lose out on a good opportunity to make money

[suchmoon]

The more you talk about it the riskier it sounds, not that you had any chance here to begin with.

Wait until March, pay that debt down - and you'll be able to pay down more without having to throw $1500 away on interest. There will be other houses.

[Battareus]

The more you talk about it the riskier it sounds, not that you had any chance here to begin with.

Wait until March, pay that debt down - and you'll be able to pay down more without having to throw $1500 away on interest. There will be other houses.

It is unlikely that he will heed the advice, when a person is ready to give such an annual interest, then he is ready to do anything. If he cannot take loan here, he will find the loan from acquaintances at the same or even higher percentage. This is not a way out of the situation, he must rely on those funds that are available so as not to spoil his reputation in case of failure to meet deadlines or not to look for loan options even at high interest rates to repay this debt.

[Ghost321]

You know .5 Bitcoin is about $4500. No collateral, no loan.

[Thecryptofan911]

You know .5 Bitcoin is about $4500. No collateral, no loan.

And who the fuck are you with your brand new account bullshit? Foh dude

[Vod]

Choose one. 

1) Provide collateral
2) Lock this thread
3) Receive negative trust

[Thecryptofan911]

2