What are equity bank accounts? Why do vendors from foreign nations want US patrons to have one?
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I was in the process of acquiring a loan from a mortgage company in the UK, due to not being able to get one here in the US. The company agent that I am corresponding with has requested I apply for an equity bank account. I am not clear as to why I should apply for an equity account. Could anyone with a solid and accurate financial background, tell me why the agent would ask for this type of account as opposed to a normal banking account? Is it worth my time to even proceed with this loan process?
What are equity bank accounts? Why do vendors from foreign nations want US patrons to have one?How do you know that this mortgage company is a real company?
I have never heard of foreign banks lending money to Americans for mortgages.
If I were you I would be very afraid that you just released your personal info to a scam artist, how did you find this company?
And I have no idea why they want a equity account, I'm not even sure what that is. Ask your broker.
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