Smartbuy Homes money hungery theives Internet

As a real estate investor I have called to check on Smart Buy homes a couple times. When they state the price the are asking about their homes, 

I laughed heartily and hung up. It's obviously a rip off. They definitely mark up their homes WAYYYYYY above market value, many times a hundred thousand or more. Anyone stating otherwise is not a real estate professional. They count on you being evicted. There are , of course, exceptions, like when they are 

Off loading homes to cash out, etc.  You might pick up a fair deal with a cash offer OR with a pre-approved loan. IF you are trying to finance through them, they KNOW your are desperate and will eventually be evicted, so you serve as a source of Fantastic Revenue, until you can no longer pay the inflated motrgage. If you don't believe me, let me just state that I am currently holding in my hand the most current list of foreclusres and guess who TOPS the list on foreclosures and evictions as of 1st quarter 2018? You guessed it, SMARTBUY!!! Go to an auction and get a copy of it yourself, you will see that I'm simply stating facts.

I look for a class action against Smartbuy sometime in the next few years, but it may not happen because there are A LOT of people making money with Smartbuy Corp and they probably have a couple of local State reps getting in on the action. I would recommend someone who wants a grat story or a smart attorney picking this up and follwing the braeadcrumbs. Shouldn't be to hard to find the fraud. Keep in mind they are not stupid, and while their predatory practices are well known in the real estate world, I Imagine they have an army of Lawyers covering their tracks. Just know that Smartbuy is actually StupidBuy, and don't beleive too good to be true scams. 

Whoever wrote this clearly doesn't understand the way the world works.  Of course you have to pay extra fees if you're late or about to be foreclosed, that's obvious.  $!00,000 over appraised value?  No, I would say that's never happened, except their really expensive houses.  I've owned two Smart Buy homes, and I've never had any of these problems.  I refinanced with Wells Fargo three years after I bought my second house.  If you are looking for someone to blame, try looking in the mirror.  They don't have attorneys writing their closing docs in a way that's any diffefrent from other mortgage companies, you just don't like that you couldn't make your payments on time.

At Smart Buy Homes, we proudly offer homes in like-new condition, with no credit check, no income verification, and a substantially smaller down payment than most other lenders.  Our rates are competitive with, and usually well below, other companies that offer similar financing.  

We offer a service that involves us assuming a substantial risk, since we collect a 5%-7% down payment, and don't verify the credit-worthiness of our customers.  This service is not free.  Yes, if your payment is late, there is a late fee.  This is no different than the way in which any other lender conducts business.  It is also true that other fees are charged when a home is posted for foreclosure.  Again, this is no different from the way in which any other lender conducts business.

As far as title searches, we maintain clear titles on all the properties we acquire.  We make it a priority to do so, in fact.  Any customer is free to have an appraisal done on any of our properties at any time.  However, a conventional appraisal has little to no bearing on the prices of our properties because we are offering an unconventional loan.  Our properties are marked up to reflect the risk we assume in an owner-finance loan, just as prices and interest rates are marked up in other categories of high risk loans.

Should a property be foreclosed, it is auctioned off on the courthouse steps as it would be with any other lender.  Upon foreclosure, we must file eviction, and attend a trial in which a judge scrutinizes the manner in which the foreclosure was performed to ascertain whether we followed the proper procedures.  If that judge determines that we did not follow the proper procedures, he/she will not award possession, and we basically are required to start the process over again.  The homeowner is notified of the court date by the constable's office, and has every right to appear to plead their case.

In most cases, re-financing a home is possible within five years or less.  There is no pre-payment penalty.  We do not close with a title company due to the unconventional loans we offer.  There is no requirement to close with a title company.  Our attorneys prepare standard deeds of trust which secure promissory notes.  Our closing documents are available for review by any prospective homeowner prior to any commitment being made, or any money changing hands.  

We have been in business since 1969, and have maintained our A+ rating with the Better Business Bureau for many years.  

I hope this has cleared up any misconceptions you may have had.  If you still have questions, please feel free to contact our office.