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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
Beazer Homes Investigative Series Wins Prestigous Award
Wednesday, 02 July 2008

Charlotte Observer foreclosure series awarded Loeb
“Sold A Nightmare” wins a top business journalism honor.The series, which ran throughout 2007, detailed the sales practices that contributed to housing foreclosures in the area and led to federal investigations of Beazer Homes USA, one of the nation's largest homebuilders. “Sold A Nightmare” has earned numerous accolades, including from the Pulitzer Prize board, which named the series a finalist for the 2008 Gold Medal For Public Service. It has also received the George Polk Award for Economics Reporting and honors from the N.C. Press Association, the Society of American Business Editors and Writers and the National Association of Real Estate Writers.

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Beazer leaving Charlotte over investigation of preditory mortgage scam
Wednesday, 13 February 2008

Beazer leaving area amid investigations
Beazer Homes USA, a home builder under federal investigation, said Friday it will stop building in the Charlotte market and close its national mortgage unit -- a business in which it says employees violated federal housing regulations. The Atlanta company gave no timetable for the withdrawal. Beazer's statement also said it will stop building in Columbia, in Lexington, Ky., and in Cincinnati, Dayton and Columbus, Ohio. The company said it will complete homes under construction and continue providing warranty services.

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Beazer Closing Down
Monday, 04 February 2008

Beazer leaving area amid investigations
Beazer Homes USA, a home builder under federal investigation, said Friday it will stop building in the Charlotte market and close its national mortgage unit -- a business in which it says employees violated federal housing regulations.Beazer said it will pair with Countrywide Financial as a preferred mortgage lender.  Countrywide, the nation's largest mortgage lender, has become the poster child of the U.S. mortgage crisis prompted by lending to people with sketchy credit and enabling some to buy houses they couldn't afford. Charlotte's Bank of America is buying the troubled lender.

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Beazer Admits to Mortgage Fraud
Thursday, 18 October 2007

Beazer Homes faces up to $15M fine for loan violations
Beazer Homes (BZK) said Thursday that some employees at its mortgage division broke federal loan laws from at least 2000 through early this year. The builder said it expects to pay up to $15 million in regulatory fines and losses and to restate its financial results all the way back to 1999.The Atlanta-based company, one of the nation's largest home builders, also said roughly two of every three buyers canceled their contracts from July to September.Beazer is being investigated by the Securities and Exchange Commission and the U.S. Attorney's office in North Carolina on allegations that it broke rules governing down payment assistance, sold homes to low-income buyers who couldn't afford them, falsified documents and charged higher fees than the regulations allow.

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Beazer High Cancellations Leads to Profitable Deposits
Tuesday, 16 October 2007

US Home Foreclosure filings up 99% from September 2006; Top home builder says 68% of its prospective buyers cancelled orders in the company's fiscal fourth quarter Home builder Beazer reported that 68% of its prospective home buyers cancelled their orders in the company's fiscal fourth quarter, which ended Sept. 30th. The cancellation rate was almost double the 36% of customers who cancelled orders and gave up deposits in the prior quarter.

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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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