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PulteGroup, Inc. Message Board

  • sdevlin34 sdevlin34 Oct 26, 2009 4:13 PM Flag

    Pulte Homes Lawsuit

    Hi all –

    I work with a law firm that’s filed a class-action lawsuit against Pulte Homes in California claiming the company artificially propped up home sale prices and pushed homeowners into dangerous loans for additional profits.

    The suit claims that Pulte’s practices created ‘toxic subdivisions’ resulting in foreclosures, a steep decline in home values, a loss of buyer’s down payments, loss of mortgage payments and ruined credit.

    The suit represents anyone who purchased a home in a Pulte neighborhood between Jan. 1, 2005 and March 1, 2007. If you fall into this category, please visit www.hbsslaw.com/pultehomes. You can share your story with attorneys and learn more about the lawsuit.

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    • We also represent a class action lawsuit regarding stopped up toilets in large subdivisions. We are attempting to serve a subpoena on the CEO so that we can both dunk and stir all toilets by submerging him head first in the toilets.

      Further information please contact the lawfirm of

      Dangerfield and Monfried

    • i thnk more class actions are about to be filed.

    • Not my point - my point was that it seems foolish to bring a class action suit against a builder claiming they created the housing market we experienced over roughly the 02-05 period.Demand comes from buyers, the govt dictated a change in credit policy that added an unqualified pool of buyers which increased demand but for only a short period. Any of these people actually vested in their homes- no way! The lack of personal accountability has impacted many legitimate homebuyers but to me the root cause goes beyond the builder to the repeal of the glass -stegall act in 99, fed monetary policy post 2001, fannie/freddie gse's, barney and co. in Washington. The builders in my opinion have been burned as bad or worse by the same poor decision making in washington and the same greed that drove buyers to the market. As corporations they pay the price - huge losses in shareholder value,operational losses, debt etc. Many are gone in BK just like homeonwers who also got caught up in an artificial market and now want someone else to blame.Govt intervention in the free markets fails. I am not talking about your problems with Pulte regarding quality and service but you could have easily avoided this if you just said no thanks. I have lived in the Phoenix area for 15 years and seen the impact to quality from the boom - not enough qualified trades, college grad supers who know nothing about building a home correctly, poorly trained sales people etc.You problem with pulte seems to be caused by those factors which are a byproduct of unsustainable growth caused by govt intervention- so sue washington is my point

    • darn, you beat me to it. i read the news early this am (pst) but didnt have time to post. if you read some of my recent posts i predicted this would happen, only a matter of time. the 4 states that had most PHM scam sales were CA NV AZ and FL. 1st to file was CA, but we'll quickly see the other 3 file class action lawsuits. as soon as the firm in my state files i will be the 1st to be interviewed by the attorneys. i am confident that 4 major class action suits will soon be a thorn in the side of PHM, but hopefully the stock holders will be smart enough to get out before its too late. bad things happen to those who do bad things, sucks to be PHM.

 
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