For starters these three men have long histories involved with nothing less than fraud as it relates to the home improvement industry. They work as a nomadic tribe going from one home improvement company to the next.in each instance they partake in a host of illegal activities that results in major damage to the company they engage.incredibly, there history proceeds them, but in the minds of the home improvement companies they work for, they are willing to turn a blind eye for the numerous contracts these men produce throughout the year. The company is no less than a participant.
To begin with none of them have licenses to sell home improvements in accordance to the laws of the state of new jersey. Specifically, licensing with the new jersey state department of banking, which requires a home sales finance baning license, thereby permitting them to sell home improvements with financing in the home. None of them.
As for the construction companies, they are well aware of this and participate in the fraudulent practice themselves. The method is simple. The home improvement company allows these men to go out and commit their fraud using their name, their contract and their new jersey state banking license. How these men avoid attention is simple. The contract is written by the perp and then it goes back to the home improvement company. Once there, the home improvement company calls it into one of several home improvement lending institutions, such as ge captial. These banks specialize in home improvement lending. Once the contract is approved, the construction company begins the construction work and shortly thereafter and before the work is complete, they take the contract and place the construction owners name on it, then they bring it back to the homeowner and have them sign the bank papers which convienently includes the new contract with the companies owner name on it as the sales person. The homeowner nevers knows as they think it just part of the banking contract, as they sign all the bank papers. No one is the wiser as it all appears legal to the bank who fiananced the loan because the contract has the construction companies owners name on it.By law a construction company's owner is licensed to sell by virtue of the his license with the department of banking.in other words the construction company owner does not require a home sales finance license. They require a home sales contractor license (i think, however im not sure of the exact name) if they hire sales people however, the license for each sales person must be on the wall inside the construction company they work for. Salesmen are not permitted by law to work for more than one company. These guys work for 5 at a time, using this technique to circumvent the law.
The sales practices employed by these three run the gamit of fraud, beginning with the fact that no right to cancel is ever provided to the homeowner. They never leave banking papers with the homeowner. They only sign a contact and a credit application.in record time they begin the construction work, to avoid the homeowners opportunity to cancel even if they wanted to. The sales tactics run the gamit from telling people it's a government fha program (the most common) with little or no interest, when in fact the interest is most commonly substiantially higher than any bank would provide. They target the inner cities, to stike people who cannot get loan approval under normal circumstance and create all types of fraudulent documents to assure the loan approval through their sources. These particular banks however traditionally provided money to these families when normal banks would not. However as of late these banks have enourmously tightened the reigns and are considerably more cautious. Not with the sales people, but with the criterior for approvals. This is the result of the current collapse of the secondary loan market and is the reason the tribe is desperately searching for new venues to extort.
For whatever its worth however, evenone is complicit in the scam. When you sell home improvement with financing, you are required to produce all the bank papers on the spot. This is impossible however because, when they sell the job they don't have a bank approval. Therefore the homeowner has no idea of the terms of the banking. Either does the salesman. Therefore, they lie and tell homeowners terms that are not true. This is how they get the contract signed. The banks are totally aware of this crap and turn a blind eye to it. Naturally, the salesman must get the papers signed after the fact, however its too late because the work has begun, leading the homeowner beleiving the orginal contract was valid, when in fact it has absolutely no validity. The correct procedure would be to get a credit application signed by the owner, get the loan approval and then go and sign the contract with the exact terms. Under these circumstances no one would sign the papers if they saw the terms.
These three however, ran wild for years, perpertrating frauds on inner city victims. Naturally, i can not spell out their exact m. O, but suffice it to say they used every trick in the book to extort homeowners. A common tactic employed is to search for homeowners in need of refiance for debt consolidation.in this scenario they violate all banking laws by acting on both sides of the fence, securing the mortgage and selling the home improvement. They have a host of mortgage companies that are party to the game and they call in the credit application to the mortgage company who is well aware of their indescretions. The mortgage company approves the new mortgage and included in it are the funds for the home improvement. The mortgage companies are cautious and will not issue check in anyone elses name other than the homeowner to avoid the illegality of participating with a contractor. Frequently how the salesmen get around the issuance of checks to the homeowner is by filing a lien on the property so when the mortgage closes they get paid as part of the disbursements. Every penny before the work starts. Once they receive all their money, it's a longshot that the homeowner will get what they contracted for.
These three have the worst of the worst reputation. And most home improvement companies who engaged them, with the expectations of reeling in numerous contracts are quickly overcome by them requesting substaintial monies in advance based on the numerous contracts they bring in. Before long these guys are ahead of the company by thens of thousands of dollars and its bye bye.
There are numerous contracting companies out there that are licensed by the new jersey state department of banking to provide home improvement financing. They all engage these animals, knowing full well their tactics in defrauding homeowners.
These three in particular have been blacklisted by almost all of them, who wont risk getting screw any more.in most instances the contractor is left holding the bag of their frauds.in record time, after they get their money from the construction company a call will come in from a homeowner that claims they never received so much as a contract. They have no idea the cost of the work and no idea of the payment. While there at work the construction company is at their home doing the first days work and compeltes a majority of it before the homeowner comes home and freaks out.
Within minutes they are in the house calming the owner. Sometimes however they cant and the trouble begins leaving the construction company holding the bag of responsibility.
They could care less about the law and will tell the homeowner anything they want to hear to get them to sign. Anything. If the homeowner balks they tell them they cant cancel because the mortgage has been filed and they will lose their home. Most homeowners cave.
Almost every contracting company has been screwed big time by their tactics. They are ruthless and target not only the homeowner, but the contractor.in the most recent well know episode, kf defrauded ge (i believe), the bank for more than 100k by discounting the loan with the bank on several homeowners without so much as installing a nail. Ge is looking for him at this time to prosecute. These rumors are from very reliable sourses.
As for the big guy, he may be one of the worst in the industry in that he could care less and blatantly will rip a person off for 50k in home improvements and leave them his name and number. He is also known to have a major big league crack addiction or heroin.
In continuing their scam they took on the busines of writing deals for foreclosure rescue companies and/or anything else they can come up with and right from the start, orchestrated frauds against the consumer. There is no way to know what they told these people, but you can bank on it, that it approximates not having to pay their mortgage ever again. You can stop paying you payments the moment you sign. Taking the homeowner checks in their names and cashing them. Just pay the $3000 and sign here. There is no other way they would have the talent to write the quantity of deals they did in the short period of time they executed their crimes. Unfortunately, these new companies they are with now could have no way of knowing this fraud was in progess. These animal are too shrewed and are gifted at being undercover. There well aware if anyone finds out, the deal is over. The blatent acts of fraud however are a testimony to the degree of addiction by the big guy. He is absolutely not in his right mind and therefore the boldness of his crimes. He is truly sick.
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