Friday Links
Flushing Avenue. Photo by dannythefox. United Homes Suckers Bed Stuy Mom [NY Daily News] Fire Guts House at 663 Rugby Road [WNBC] Richard Rogers Wins Pritzker [Gothamist] Karl Fischer Row is Coming Along…Slowly [Curbed] How To Stain Wood [Charles & Hudson] How to Free Pocket Shutters [Forum]
Flushing Avenue. Photo by dannythefox.
United Homes Suckers Bed Stuy Mom [NY Daily News]
Fire Guts House at 663 Rugby Road [WNBC]
Richard Rogers Wins Pritzker [Gothamist]
Karl Fischer Row is Coming Along…Slowly [Curbed]
How To Stain Wood [Charles & Hudson]
How to Free Pocket Shutters [Forum]
United Homes are creeps — I actually had someone from there call me asking if I had any “development sites” for sale, or even houses that could be “removed” — I told them I only dealt with protected properties in historic districts and that I only condoned responsible, in-context development, at which point the creep asked me, “How do you do any business like that?” I told him my business was just fine, thank you, and hung up.
good thing you brought up credit card companies, Mr. Critical. FYI, class action lawsuits and senate hearings are also taking them to tasks for some of their unscrupulous practices:
http://redtape.msnbc.com/2007/03/credit_card_com.html
I agree that the ‘victims’ are not off the hook for their gullibility. but, outside of obscenities and profanities, words haven’t yet been invented in the English lexicon to describe these heartless, corrupt real estate predators.
where is the individual responsibility in all this, i would like to know?
While i understand that its frustrating for educated consumers to read stories like this I think its also important to remember that not everyone has a full understanding of the complexities of home purchasing.
I was urged to buy a home by my landlord a long time ago- over 10 years ago. Despite having a college education, and a reasonable level of intelligence I simply didn’t understand the nature of a mortgage. I kid you not. It took years of him bugging me to realize that I could afford a 100,000 mortgage. Frankly it seemed like a lot of money to me and it took me a long time to wrap my mind around the idea that I could own a building.
At that time I went to see a lot of place with Quality and United. They were very nice folks- but they certainly didn’t educate me about the process or about contruction- or what to look for in a building. I didn’t grow up learning how to be a handyman or how to do taxes- so all of it was a lot beyond me.
The point is- there are predatory folks out there- that’s the nature of a capitalist system – right. However, there are some who believe that one function of the government it to protect the general population from predators – be the sexual- financial- or simply bullies.
The truth is that there are laws on the books to protect people from predatory practies. Based on this article and on my experience it appears that United did break these laws. If one thinks that these laws are a bad idea- then campaign against them- educate people as to why they are bad.
Typical scenario: a shady general contractor approaches an elderly lady and tells her about all the wonderful improvements that he could make to her home. And she wouldn’t have to pay a cent for it; at least not right away. Then he conveniently refers her to his ‘friend’ who is a legitimate mortgage broker. Two years later, after many home improvement mishaps and steady rising debt, that old lady find herself in foreclosure and homeless.
The scenario is no different from what United Homes is doing. How is the home-buyer’s interest protected when United Homes also conveniently provides the mortgage broker and the lawyer. I wouldn’t be surprised if they also supplied the home inspector/structural engineer.
United Homes, they don’t mention sales price. What they tell you is that you get to own the home for $1400/mth. They fail to tell you that you’ll be taking out a $640,000 arm (adjustable loan) that expires within 2 years. They prey on people’s ignorance and desperation. Why else would they be so eager to close the deal in 2 weeks with the rest of nyc home-buyer customarily experiences a 2-6 mth closing process.
The argument that they shouldn’t be held accountable is about as valid as suggesting that seniors who become homeless as a result of a bad reverse mortgages shouldn’t cry foul. Since when are we in the business of defending predators?
Wow this could set a great precedent!
OK so I’m gonna go sue Mastercard and Circuit City and even bring the FDIC into the suit for MAKING me buy that 62″ plasma screen TV even though I only make $24,000 per year.
Darn those predatory selling practices! They had such a big, shiny sign on the store and they made it so easy to buy! Never mind that I only had $965 in the bank – IT’S THEIR FAULT!!!!
And even though I didn’t ask about the price, they never warned me that it’s a really, REALLY expensive TV. They just took my money and only AFTER I gave them my Mastercard did they tell me the price! Believe me, when you’re confronted with a pinpad screen that says “$5900 : approve / deny” you HAVE to hit approve. I mean they HAVE you then.
Then, after I missed the 9th payment, they told me they were jacking my interest rate up to 25% – the nerve! They sucked me in with all that fine print and legal mumbo jumbo!
Well I got myself a law book and I’m gonna take them to court so I can show the world how it’s all a big conspiracy to make me buy a GIANT TV. They just make them look SOOOOO good in the store so innocent people like me are sucked in and HAVE to buy them.
Let’s give thanks for our legal system and the wiley sleuths over at the NY Daily News for their excellent, objective reporting and God Bless America!
fyi – United Homes is the same company behind Oro condos, on Flatbush. The Hershko brothers.
also fyi – i have dealt with them in two projects as a business partner, and found NOTHING shady about them whatsoever. in fact, they were always committed to high quality material in their developments and paid promptly without fuss.
holy cow, how do they get away with not telling people the purchase price of a house? that reminds me of some RE agents that say they can’t show you any properties until they pre-approve you themselves.