Washington, D.C. – Home buying season is here. Magazines and newspapers are filled with ways sellers can present their homes to fool buyers. In fact, it has become a cottage industry.
April 7, 2005 (Press Release) --
Sellers are sophisticated using staging companies to entice and fool the buyer. Who is looking out for the buyer?The internet offers pitfalls of predatory lenders. Concerns about “one stop shops” in the industry that could steer buyers away from their rightful choices are part of state investigations involving title kickbacks. Also, consumers need to watch for garbage fees in title insurance such as: email downloading charges, storage, and courier fees. All of these issues will be addressed in a press conference and panel discussion on consumer protection and the homebuyer.
NAEBA will call for an expansion of the recent state probes into title insurance kickbacks and release 3 buyer alerts that are part of an effort to educate and protect buyers. We hope reporters and editors will consider these timely topics for articles. NAEBA will hold a press conference and panel discussion in Washington - Tuesday, April 12th at 10:15am - St. Regis Hotel (16th and K St. NW).
1. Alert -“10 Tips to Protect Yourself with Title Insurance” - Regulators are looking
at illicit business arrangements-called reinsurance contracts-allowing subsidiaries to
be compensated for steering business to a specific insurer. Consumers - “seek
assurance with title insurance”
2. Alert - “Buyer as Home Detective- Recognizing a Sophisticated Seller” - The new technique of staging of homes by sellers. There is little advice for the buyer on how not to be fooled. Use the “sense test” to destage homes.
3. Alert -“The 5 Biggest Dangers Facing Buyers” - from open houses, one stop shops, yard signs,
the internet - the 5 biggest dangers facing buyers.
NAEBA also releases a national survey on how home buying has changed in the last 10 yrs. For interviews call Casey 603-670-8470 It is more important than ever that buyers are well educated.
Forum “The Internet & Changes in Home Buying - Impact on the Consumer ”
Tuesday, April 12
(10:30am – 12:00pm)
Consumer advocates and Industry Experts: Consumer Federation of America, American Homeowners Grassroots Alliance (AHGA), NAEBA, Lead attorney, Fed Trade Commission (Consumer Bureau, Financial Services Division), Insurance Commissioner Mirel , (Nat’l Association of Insurance Commissioners).
NAEBA will call for an expansion of the recent state probes into title insurance kickbacks and release 3 buyer alerts that are part of an effort to educate and protect buyers. We hope reporters and editors will consider these timely topics for articles. NAEBA will hold a press conference and panel discussion in Washington - Tuesday, April 12th at 10:15am - St. Regis Hotel (16th and K St. NW).
1. Alert -“10 Tips to Protect Yourself with Title Insurance” - Regulators are looking
at illicit business arrangements-called reinsurance contracts-allowing subsidiaries to
be compensated for steering business to a specific insurer. Consumers - “seek
assurance with title insurance”
2. Alert - “Buyer as Home Detective- Recognizing a Sophisticated Seller” - The new technique of staging of homes by sellers. There is little advice for the buyer on how not to be fooled. Use the “sense test” to destage homes.
3. Alert -“The 5 Biggest Dangers Facing Buyers” - from open houses, one stop shops, yard signs,
the internet - the 5 biggest dangers facing buyers.
NAEBA also releases a national survey on how home buying has changed in the last 10 yrs. For interviews call Casey 603-670-8470 It is more important than ever that buyers are well educated.
Forum “The Internet & Changes in Home Buying - Impact on the Consumer ”
Tuesday, April 12
(10:30am – 12:00pm)
Consumer advocates and Industry Experts: Consumer Federation of America, American Homeowners Grassroots Alliance (AHGA), NAEBA, Lead attorney, Fed Trade Commission (Consumer Bureau, Financial Services Division), Insurance Commissioner Mirel , (Nat’l Association of Insurance Commissioners).
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