You still do not understand that if you dissected their books and records with a forensic accountant you will find where all of the money goes to!<quoted text>
The scam is more with the builders that have their own lending division. Yes, THP, Pulte, KHov, all of them have their own lending division. Your not paying $300K for a house that cost $150K. Go look at their filings with the SEC. Pulte for 2007 and 2008 posted losses. Their total sales didn't even cover their cost of the homes (which doesn't cover the costs paid to the salaried people). So if you think their is a huge mark up on these homes.....then explain to me why this company is taking a beating financially?
The scam with their lending divisions is this. They give you this great discount to use their lending division and give you a discount. This discount is the phantom write up on the house but it is done so you take their lendors. Afterwards, the lendors then sell your mortgage to Countrywide, Bank of America, etc and make a commission off the sale (6% or so). If you can talk the builder into giving you the discount without using their lendors, good luck, most won't let you. Per the BBB, as long as they aren't making you take ridiculous interest rate loans to get the discount, there is nothing wrong with the practice. If you don't like what they are doing, buy something else.
They way to mess the likes of Pulte, THP is to buy the house and refinance immeadiately. That way they can't make a commission on the sale of the loan.
Yes Batman...I understand your smoke and mirrors philosophy....but get real with your margins you have them making. I think the shareholders would love it if they were making those profits you claim.....maybe we wouldn't be in this economic crisis if they were in fact making those profits you think they are!!!
These companies are all posting losses so they do not have to pay taxes.
You will never know the full story about how many local officials that were paid off in cash that was siphoned off through phoney LLC's.
If I wanted a death wish, I would reveal my name, except that I am worth more alive to my family.
Most people in the banking industry have no clue how white collar crime works.
Madoff did not pull off the largest Ponzi scheme in the history of the world all by himself. Many people were paid off and many more politicians looked the other way so they could line their pockets.