A group of 18 homebuyers and the Laborers International Union of North America charged Thursday in Las Vegas that Pulte Homes Corp. and other builders harmed buyers during the housing boom by inducing them into purchasing homes at inflated values and with unaffordable mortgages.
During a news conference organized by the union they asked the Nevada Attorney General's office to take action on complaints alleging deceptive sales and lending practices.
A union press release said Constance Consentino, one of the homebuyers filing complaints, purchased a Pulte home in Las Vegas in 2007 with a 20-percent down payment and a good credit score. The union alleged Pulte inflated the home price, used incentives to steer her to Pulte’s lending affiliate and failed to disclose important mortgage terms, particularly that their interest rate could increase after seven years.
And the homebuilders' response? Blame the unions. Typical.
This is just ridiculous! Homebuilders deceive new buyers... And when they're exposed, they blame the unions! It just shows who really cares about the consumers. (Hint: It's NOT the big builders.)