This doesn’t seem right

[DavidMcmillan]

There are a couple of firms advertising on KTOK that seem to be a real disaster for some folks. They are wanting to buy homes and them rent them back to the owners. Even the “double-fast” disclaimer at the end of the commercial sounds slimy. They say settlement will be a combination of cash and ….. I haven’t been able to understand the last part. These seem to be aimed at individuals that have gotten them selves into some financial difficulties and are probably not savvy enough to avoid being taken advantage of.

 

[Perplexed]

Sounds something like a reverse mortgage or such?

 

[DavidMcmillan]

With a reverse mortgage, I believe you still own the home. In this deal, they take ownership, pay taxes, maintenance, etc. but there is no mention of the lease price being frozen, or any other guarantee that you would be able to stay in the home after sometime. It just sounds crooked.

 

[1911DA]

If it sounds fishy it's a scam to make someone else money at your expense..........there ain't no free lunch Virginia

 

[THAT Gurl]

Yep. I've been getting mail from them also. They will "let" me live in "my" home as long as I want to -- and I don't have to carry insurance or pay property taxes. Wonder how long it would take after I missed that first lease payment for them to have me served with an eviction notice??

All this is is a good way to end up homeless ... Or paying "the going rate" on a rental/lease agreement. And who here thinks that rental/lease amount will be the same as/less than your current mortgage payment?

If you think so, we need to talk. I have beachfront property in my backyard I'd like to sell ...

 

[turkeyrun]

If it looks fishy
If it sounds fishy
If it feels fishy
If it smells fishy

Don't eat it, STDs are not your friend. No matter how good she tries to make it seem.

 

[SoonerP226]

I just got a letter from one of those fly-by-nite "real estate companies" offering to buy my folks' farm at a "fair and reasonable offer." If they had actually done about five minutes of research, they'd have seen that we already sold the place at the end of last year, and for more than double their "fair and reasonable offer."

I seriously though about replying to the letter and telling them to ask their sister-mom why their family tree doesn't fork...

 

[2busy]

I get offers all the time for pennies on the dollar for what land is actually selling for .out of staters have drove the price up On land .

 

[Almost Jack Burton]

Probably one of Hunters many successful 100% legal no shady dealing business interests.

 

[1911DA]

If it looks fishy
If it sounds fishy
If it feels fishy
If it smells fishy

Don't eat it, STDs are not your friend. No matter how good she tries to make it seem.