26 July 2008

Quick: Buy irresponsibly before the government says you can't!

Now here's an honest mailing: This is from Pulte Homes, the corporate parent of Del Webb's sprawling age-segregated communities. The gist? -- Quick! act now and sign up for an economy-destroying irresponsible mortgage before the government puts a halt to this unethical practice -- Better yet, act now so you can sneak in a dubious mortgage that the American Taxpayers will soon be forced to bail out with billions of dollars this sort of wink-wink business practice. . . .

Dear Andrew,

Thank you for your continued interest in Pulte Homes, Del Webb and DiVosta. We’ve been monitoring some exciting housing news and wanted to share it with you. Congress is currently working to pass a new housing reform bill to help stimulate the recovery of the housing industry. Before this formally goes into effect, NOW is the time to take advantage of existing home buying assistance programs that may be going away.

Two proposed changes are:
1. All government-sponsored zero-down-payment assistance programs would be eliminated as of October 1, 2008. To be eligible for these programs, all home loans would need to be approved by September 30, 2008.

2. The minimum down payment for Federal Housing Administration (FHA) loans, the largest purchaser of mortgages in the United States, would increase from 3 percent to 3.5 percent.

Although these changes are not final, they are highly likely to happen. Given the number of our homeowners who have benefited from these programs in the past, we wanted to get this news out to you now so you can take advantage of these programs before the changes are enacted.

In addition, the proposed bill includes a government incentive program for first time homebuyers who close on their home by July 1, 2009. This benefit would be retroactive to April 9, 2008, so if you act now, you might qualify for an added benefit should the new law come to pass.

To find out about the program that works best for your personal home-buying situation, we encourage you to contact your sales associate today. It could make a big difference in fulfilling your new home dream.

Learn more about the exciting development here.


Pulte Homes, Inc.
100 Bloomfield Hills Parkway | Bloomfield Hills, Michigan 48304


Why not use the above information to contact Pulte Homes and lambast them for their encouragement of questionable lending practices for which we will all soon have to foot the bill to bail this crap out?

No comments: