Straight Talk from Al Jacobs

 

AN OMINOUS WARNING

 

The letter I just received from Property Profile in Glendora, CA is harsh. The notice on the envelope says “WARNING: $2,000 fine, 5 years imprisonment, or both for any person interfering or obstructing with delivery of this letter U.S. Mail TTT.18.Code”

 The message inside is equally unsettling. “RECORDED DEED NOTICE – Why you need a copy of your Current Grant Deed and Property Assessment Profile? Property Profile recommends that all CA homeowners obtain a copy of their Current Grant Deed and Property Assessment Profile. These documents can provide evidence that the property at [address], was in fact transferred and has interest to the individual(s) [name].”

 And finally, as expected, the pitch: “To obtain a copy of your Property Assessment Profile and Complimentary Grant Deed, Please detach and return in the enclosed envelope with your processing fee of $86.00. You will receive your documents and report within 21 business days. Se habla español.”

 For those of you who aren’t aware, all Grant Deeds are recorded documents whose existence can be verified free of charge. As for a Property Assessment Profile, it can be any scrap of paper the issuing firm chooses it to be. Needless to say, what a subscriber will pay $86 to receive is something of no particular value and which Property Profile produces for next to nothing. Since the law requires the sender to disclose that a grant deed can be obtained from the County Recorder – and they do so in a box at the top of the notice – they can’t be charged with petty theft. As for what they might be accused of, you’re welcome to make that decision.

 A final comment: You may have noticed some literary and punctuation errors in the text. This is normal when composed by someone whose native language is not English – which is certainly the case. No doubt the persons likely to be duped by this scam are immigrant homeowners, with little or no sophistication or understanding of the workings of our society and who are easily intimidated. It’s sad, though not unusual, that first generation residents – documented or otherwise – are systematically preyed upon by members of their own community.

  

Al Jacobs, a professional investor for nearly a half-

century, issues weekly financial articles in which he

shares his financial knowledge and experience.

You may view them on http://www.roadwaytoprosperity.com