Timeline for What is the name of the type of real estate fraud/scheme I'm describing?
Current License: CC BY-SA 4.0
7 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Dec 13, 2021 at 19:58 | comment | added | ohwilleke | Getting improvements done on the tenants' dime and then forfeiting the lease would make a certain amount of sense (and is also not necessarily illegal). Abuses of rent to own contracts would be another angle. | |
| Nov 15, 2021 at 3:48 | comment | added | Clockwork-Muse | Note that the first angle was allegedly how several fast-food franchises operated (Quizno's?), and may underlie some of the "gig economy" jobs/franchises. | |
| Nov 13, 2021 at 19:00 | history | edited | o.m. | CC BY-SA 4.0 |
added 1 character in body
|
| Nov 13, 2021 at 17:20 | comment | added | o.m. | @JustinSewell, depends on who knows what and where the money goes. A loans B money to pay C might be legal where A loans B money to pay A is not. | |
| Nov 13, 2021 at 17:08 | comment | added | David Siegel | @Justin Sewell I would call that "predatory lending" That also covers cases where a broker lends to someone who cannot afford the property in the long ruin in order to collect closing costs and/or commissions. Much sub-prime real estate lending during the most recent housing bubble was predatory in this sense. Predatory auto loans to those who cannot really afford the car being sold as also not uncommon. Similar schemes occur in the rent-to-own appliance market, and in payday lending. | |
| Nov 13, 2021 at 15:55 | comment | added | Justin Sewell | Curiously, what type of fraud scheme would that last idea be described as? | |
| Nov 13, 2021 at 15:13 | history | answered | o.m. | CC BY-SA 4.0 |