Taking Advantage Of FHA, Buyers, Beazer Destroys Lives, Neighborhoods - UPDATED
by Vince?Daliessio
(PHOTO: When you hear about the subprime mortgage market collapsing, think of this starter castle here)
When we last left this sorry tale, builder Beazer Homes had sold crappy 2-bedroom starter houses to low-income buyers in Charlotte, NC, an average of 20% of whom, it turns out, have since had those homes foreclosed.
Now the FBI, and the US Attorney in Charlotte is involved, and Beazer's stock price is tanking, down 17%?from an already low point;
As great as it is to see such a corporate pig get skewered, Beazer was only doing what the Bush Administration was urging them to do, which is to sell houses to people who have no realistic way to ever pay for them.
(link from Breitbart.com)