Jonathon and Brandy Miller are suing homebuilder Hovnanian because after buying their home for $360,000 in 2006 it’s now worth $164,500 and “We just feel like we’ve been wronged,” Jonathon Miller, is quoted as saying. “We were misled when we purchased it and we finally just got fed up and had to take some sort of action to address it.”
It turns out many who bought in the Firenze subdivision were speculators who tried to flip their units for a profit. “Looking back, the Millers say the developer should have worked harder to prevent so-called flippers from buying units. Buyers were supposed to stick around for at least 18 months.”
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I think the term is “moral rot”.
I live in the zip code with the highest rate of foreclosures in all of Orange County, CA — the home of the subprime mortgage industry.
A number of the “flippers” and “speculators” were homeowners who where jumping from house to house every two years … and then jumped off a cliff.
Throw the speculator down the well
So my crap municipality can be (broke)
You must take him by his horns
And we will have a big party!
People have sued Mcdonalds and won, so…. What a precedent this would be.
Next: People didn’t siphon their rightful money off the bubble. Bubble gets sued as it left too early.
I’m suing the lottery. They really convinced me I would win when I bought that ticket.
A court accepted this case and lawyers agreed to litigate it? The corruption is endless.
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