Binding Arbitration Clauses |
Thursday, 12 May 2005 |
Beware of All Binding Arbitration Clauses! New KB Home buyers & All buyers of homes with FHA & VA insured loans
Buyers can refuse Binding Arbitration if they have an FHA or VA loan or buy a KB Home. Beware of KBâs new promotional spin on its 12-year Warranty with a Mandatory Binding Arbitration clause.
History: KB has a long, well documented pattern of bad behavior. Twenty five years ago they were sued by the FTC for bad building practices and failure to honor warranty claims. KB entered into a âConsent Orderâ agreement with the FTC and as a result of that order they are the only builder in the country that can not require Mandatory Binding Arbitration. However, KB continues to challenge authority⦠Donât be fooled; avoid KBâs new so-called âcustomer choiceâ 12-year Warranty Promotion with a Binding Arbitration Clause, designed to lure buyers into giving up their constitutional right to sue for defectively built homes.
UPDATE: KB Home Pays $2M fine for Binding Arbitration Clause Homebuyers are entitled to extended warranty without Binding Arbitration Requirements
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