3 ms·

Real Estate Developer Scam Could Skim 5 Percent Off Your Home's Value

4 points by mcantelon 16y ago

Armence 16y ago
The primary problem with this situation is that this kind of fee comes as a surprise. If the fee was known, you would demand a lower price for the property and the realtor would take some of the additional valuation when the property got sold. Sounds familiar? It should. That's basically a stock sale.
kls 16y ago
This is slimy beyond reproach. Financial trickery like this should be seen as criminal fraud. It is items like this that make me think that this country could do with some stronger protection laws against consumer targeted financial instruments, and I use financial instrument is the lightest sense because in this case it is not one it is a fraudulent fee sneaked into the title, knowing full well that a consumer that does not work in the industry would know what a private transfer fee is or that it is a residual fee that is required with every transfer. The financial snake oil in this country has to stop. Denying people their food or defrauding them of their money are two of the quickest was to push a populous to the brink of a revolution. I think that cliff is closer than many of us want to believe. Blatant abuse of people like this adds fuel to the fire of the growing discontent. I fear for the abuse that we allow people to suffer at the hands of the financial institutions, as I see every day it is adding voices to the discourse. People are becoming radicalized and if anyone is looking for an example of why, here is an example in all of its immoral and predatory glory. These people should be ashamed of themselves, this is thievery whether technically legal or not. So now not only do we have to content with phone crammers tacking charges onto our phone bills but we also have to content with title crammers tacking recurring payments onto out titles. This madness has to end, people need to work for their money.

3 ms·

Real Estate Developer Scam Could Skim 5 Percent Off Your Home's Value

4 points by mcantelon 16y ago

Armence 16y ago
The primary problem with this situation is that this kind of fee comes as a surprise. If the fee was known, you would demand a lower price for the property and the realtor would take some of the additional valuation when the property got sold. Sounds familiar? It should. That's basically a stock sale.
kls 16y ago
This is slimy beyond reproach. Financial trickery like this should be seen as criminal fraud. It is items like this that make me think that this country could do with some stronger protection laws against consumer targeted financial instruments, and I use financial instrument is the lightest sense because in this case it is not one it is a fraudulent fee sneaked into the title, knowing full well that a consumer that does not work in the industry would know what a private transfer fee is or that it is a residual fee that is required with every transfer. The financial snake oil in this country has to stop. Denying people their food or defrauding them of their money are two of the quickest was to push a populous to the brink of a revolution. I think that cliff is closer than many of us want to believe. Blatant abuse of people like this adds fuel to the fire of the growing discontent. I fear for the abuse that we allow people to suffer at the hands of the financial institutions, as I see every day it is adding voices to the discourse. People are becoming radicalized and if anyone is looking for an example of why, here is an example in all of its immoral and predatory glory. These people should be ashamed of themselves, this is thievery whether technically legal or not. So now not only do we have to content with phone crammers tacking charges onto our phone bills but we also have to content with title crammers tacking recurring payments onto out titles. This madness has to end, people need to work for their money.