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ABC Special Report
Investigation: New Home Heartbreak
Trump - NAHB Homebuilders Shoddy Construction and Forced Arbitration

Organizing your community to bring public attention to builder’s bad deeds and seeking assistance from local, state and federal elected officials has proven to be more effective and much quicker for thousands of families. You do have choices and alternatives.  Janet Ahmad

Beazer Homes
Business Week: Beazer headed for Big Trouble
Wednesday, 28 March 2007

BusinessWeek has learned that the nation's sixth-largest residential builder is being probed in connection with potential mortgage fraud
Amid the meltdown of the subprime housing sector, mortgage lenders and brokers have come under fire from state and federal officials for predatory lending practices with those risky borrowers. Now one national homebuilder is feeling the heat. BusinessWeek has learned that federal investigators have opened a broad criminal probe into lending practices, some financial transactions, and other dealings at Beazer Homes USA.

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Business Week - Beazer Investigation
Wednesday, 28 March 2007

FBI investigating Beazer Homes -report
Shares of Beazer Homes USA Inc. plunged in Tuesday's aftermarket trading session following a report from BusinessWeek magazine that federal investigators have opened a broad criminal probe of the homebuilder's lending practices, a number of financial transactions, and other matters....FBI spokesman Ken Lucas told the magazine Beazer is being investigated for "all types of (potential) fraud associated with Beazer -- corporate, mortgage, investments."

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Business Week: Beazer Stock Plunges
Wednesday, 28 March 2007

Beazer Homes shares plunge 17 percent
Shares of Beazer Homes USA Inc. fell more than 17 percent in after-hours trading after the FBI said it is among agencies investigating possible fraud in the company's mortgage lending practices and other financial transactions. The Atlanta-based company, which has suffered hefty losses amid a downturn in the housing market, is the subject of an investigation by the FBI and the U.S. attorney's office in Charlotte, N.C., along with the Internal Revenue Service and the U.S. Department of Housing and Urban Development, FBI agent Ken Lucas said Tuesday.

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Homes with Beazer loans cost more
Sunday, 18 March 2007

Prices approved by appraisers didn't hold up over time
People who bought a home in Southern Chase with an FHA loan arranged by Beazer Mortgage paid higher prices on average than other buyers in the subdivision...The contrast was sharpest with the prices of 28 homes bought with loans insured by the Veterans Administration. The price of homes bought with Beazer FHA loans averaged 6 percent higher per square foot than the VA homes, adjusting for the year of sale. In 2006, Cabarrus County assigned a lower tax value than the original sales price to two-thirds of the 229 homes purchased with Beazer FHA loans. The county assigned lower values to only a quarter of the 177 homes purchased with other kinds of loans.

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Sacramento - Beazer & DR Horton
Saturday, 17 February 2007

Call Kurtis: Flooded Homes
Roseville family's plumbing burst and their home was flooded, leaving them with a sinking feeling. When they say the builder wouldn't help, they called Kurtis Ming. They were warned about possible faulty plumbing but the warning came too late, and that's when their world burst. Both families got Kurtis involved. DR Horton never returned our numerous calls over the span of 3-weeks. Beazer did.

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Reckless Endangerment
BY: GRETCHEN MORGENSON
and JOSHUA ROSNER

Outsized Ambition, Greed and
Corruption Led to
Economic Armageddon


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