Archive for the ‘new home builders’ Category

This week Federal prosecutors said they would not pursue criminal charges against Beazer Homes USA Inc. as long as the company remains in compliance with an agreement to pay up to $50 million in restitution to homebuyers who were allegedly taken advantage of by the builder’s in-house mortgage company.

Who will be next?   Kimball Hills, not a chance their mortgage company changed names twice then closed it’s doors before any buyers came forward based on some of the appraisals we have seen.

Stay tuned for the next mortgage company to get caught pushing loans through, losing documentation and selling the loans on the secondary market faster than you can image.

This is why many real estate attorneys are having their clients demand their loan servicer to produce the original note signed.  If you loan has been sold 3,4 or 5 times what is the possiblity of them finding it?      You got it.

Ask me more.