Rim Semiconductor Company (fka RSMI)

[ElderWolf]

Master Spoke

When my wife and I were in the market to buy a house, we went to a mortgage broker and he found money for us. We provided w-2's, bank statements, credit history, employment history, and information on approximately how many times a day we went to the bathroom. They APPROVED us for a certain amount. We got the loan, it was just contingent on us finding a suitable home. The transfer of the money was not to take place until we had inspections and an appraisal. It took us 2 months after the loan was approved to find that house. Did we have the loan approved? Yes. Was the money in our account? Nope. New Visual may have gotten approved for the loan. They could very well have had Mercatus go through financial statements, tech info, etc. and gotten approved. It may simply be a matter of working out details of how the money will be spent before they give the money over. Was the word "borrowed" misleading? Yep. Was it intentional? Who knows. My point was that Brad cleared it up very quickly so that leads me to believe that it was unintentional. Why don't you call the lawyer and ask why he used "borrowed". You might learn something.