Entries in ridiculous (3)
Cyberhomes reports that celebrity homes continue to appreciate
We can all rest soundly tonight knowing that Tommy Lee Jones’ house has appreciated in value.
Check out this Fidelity National press release.
Sorry, but this one has earned a well deserved spot in the Title-opoly ridiculous catagory! Underwriters: I realize it’s hard to do while residing in ivory towers as you do, but let’s try to keep priorities in focus. No one cares that celebs are getting richer thanks to their ability to purchase in those rare appreciating zip codes.
Ed Rybczynski
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Call Toll Free 1-888-731-2XXX
I received a ludicrous solicitation with the above captioning in the mail recently. The form itself and it’s packaging gave the misleading impression that it was sent by the Maryland state government. It was, in fact, a refinance advertisement sent by Allied Home Mortgage Capital Corporation.
Click here to see form (opens in separate window).
I can see how an offer like this could be construed as a governmental application even though a short disclosure to the contrary is displayed. The content and form design are scandalous.
From the form:
“Selected homeowners in Maryland may qualify for up to a 2% interest rate reduction.”
At first blush, it appeared that a discount or refund might be forthcoming due to an agreement struck between my lender and the state. For a lender, any lender, to disguise a promo in this fashion is a complete breach of public trust and socially irresponsible. In another day and age, when the direct mail craze was in it’s heyday, this tactic may have been deemed creative if not appropriate. We see in the four corners of this form the reckless mentality of the subprime and hard money crowd. One would think this type of marketing strategy an impossibility in light of the pending foreclosure epidemic and the widespread social consequences. Apparently not! We have in our midst a potent reminder that lending abuses are not a regrettable memory from the industry’s tainted past.
Question: The element of this frightful subterfuge that’s most disturbing to me?
Answer: One of my colleagues is in bed with this mutant lender and knowingly doing the closings.
Allied Home Mortgage Capital Corporation is distinguished, I use the word pejoratively, as the second entry in the Title-opoly ridiculous category.
Ed Rybczynski
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Profitable Deeds
Matt Carter posted a revealing article on Inman Blog today. See: Wait, there’s more. Matt took aim at the pathetic marketing ploy undertaken by National Deed Service. National Deed Service’s primary business is fear mongering; it’s corporate mission is deceit.
From the company’s very patriotic web-site:
National Deed Service, Inc. offers its services by sending property owners a letter offering to obtain a certified copy of their deed for a fee … It is not an easy process to obtain public records from a governmental agency. It often requires people to travel to the recorder’s office, lose time from work and pay, locate the proper office, deal with the people at the office, and locate their document and wait for the document to be produced.
The company is owned by Illinois real estate broker Barry J. Isaacson who conveniently maintains a virtual presence in Washington, DC. Please note that I’ve created a category called “ridiculous” and appropriately enter Mr. Isaacson as it’s first member.
Is National Deed Service a glaring example of American entrepreneurship or is it the “poster child” for stupid greed?
You decide by “weighing in” on the topic.
Note to consumers: It’s an industry custom to mail original deeds to homeowners after they’ve been recorded. A certified copy of a deed is simply a photocopy that his been validated by a court clerk and is generally accepted as a substitute for the original. Normally, you will have no need for the original or a certified copy. If for some reason you find that you don’t have a copy of your title deed, call a local title company and ask for assistance. In many states, recorded documents can be obtained on-line for free. Certified copies can be obtained for a small fee.
Ed Rybczynski
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