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Title: FBI probes builder incentives Post by: marc on August 16, 2008, 09:09:51 am http://online.wsj.com/article/SB121884641242946145.html?mod=googlenews_wsj
Title: Re: FBI probes builder incentives Post by: rrj on August 16, 2008, 11:07:42 pm I was just doing posts on that topic anywhere I could find. Thanks for the link. Oh I wrote the author...
Quote Thank you for the story. Those of us burned by this industry recognized the kind of risks in-house home builder lending could bring. Our builder typically tries to force in-house financing (NVR mortgage) for incentives, then takes them back at closing on way or another. Then they sell the loan, so to them homebuilding and financing is cash and carry, little risk, little commitment. There’s no “incentive” for in-house lenders to do anything but clear the loans anyway possible to sell their homes and collect excessive fees. Really surprised the FBI would care about disparities after all this time. Sincerely yours, Ron Title: Re: FBI probes builder incentives Post by: marc on December 03, 2008, 05:22:34 pm Update on this topic. I was promised free upgrades as long as I used Legend Homecorps. lender. If I went elsewhere I was told I would not get the free upgrades, would have to pay for them.
IS this builder under investigation? http://www.builderonline.com/marketing/dangerous-incentives.aspx
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