Saturday, August 16, 2008

Builder incentives that helped to overheat the market probed by the feds.

FBI Probes Unusual Incentives for Home Buyers

When home sales began to slow at the start of the downturn, home builders offered buyers incentives -- instead of reducing prices -- to stimulate demand. The incentives included cars, tuition and credit-card payments, and even cash. Now, federal investigators are questioning whether some of those incentives misled lenders and caused them to write mortgages that were artificially inflated, contributing to today's home-price crash.

Posted by landedgentry @ 04:32 PM (545 views)
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One thought on “Builder incentives that helped to overheat the market probed by the feds.

  • No need for the FSA to do anything like this in the UK though. None at all. Move along there.

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