Report: #463034

Complaint Review: KB Homes - KB

  • Submitted: Fri, June 19, 2009
  • Updated: Fri, June 19, 2009
  • Reported By: orlando Florida
  • KB Homes - KB
    Orlando, Florida

KB Homes - KB Culture of Corruption Orlando Florida

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KB Home and their mortgage partner Countrywide conspired to rip off consumers by selling homes to investors in communities where contractually only owner occupants should have been able to purchase and investors were prohibited. Repeatedly KB Homes sold multiple non owner occupant housing to known investors violating their agreements with owner occupants in these same neighborhoods. When investors realized the market could no longer sustain large price increases and booming sales they simply walked from their homes leaving KB Home communities littered with vacant homes and plummeting property values. Countrywide financed these investment properties knowing full well they were not owner occupied and used shady subprime lending practices to enable investors to purchase multiple homes without adequate income to meet the mortgage obligations. If you are an owner occupant in one of these many communities you are urged to organize your communities and file a formal complaint with your State Attorney General in an effort to coordinate a class action lawsuit to recover losses caused by these predatory lending and selling practices.

KB Home Owner
orlando, Florida

This report was posted on Ripoff Report on 06/19/2009 02:35 PM and is a permanent record located here: The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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