

Real Estate Developer Scam Could Skim 5 Percent Off Your Home's Value - mcantelon
http://www.alternet.org/economy/148441/sleazy_real_estate_developers%27_latest_scam_could_skim_5_percent_off_your_home%27s_value_/

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kls
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.

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Armence
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.

