Lennar "Get America Moving Promtion"

User Forum Topic
Submitted by Multiplepropert... on May 19, 2008 - 10:05am

I thought it was interesting that Lennar has decided to use a marketing push that directly speaks to the downturn. It is almost patriotic in nature. Aside from that, the terms seem really good with 5% fixed for the life of the loan and only a 3% down required. If you read the fine print, you will see that that $ can come from the borrower or a non-profit down payment organization. Seems to be pretty loose qualification, and I imagine quite tempting. Any thoughts?
http://www.lennar.com/promotions/cement....

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More SPAM...............most
Submitted by Ex-SD on May 19, 2008 - 10:09am.

More SPAM...............most likely from a realtor who is pushing an agenda. Your other thread (last week) was full of air and so is this one.

What's good about this promo? The prices are still way too high and the loan terms are probably the FHA backed loan program.

I've seen the Lennar
Submitted by dharmagirl on May 19, 2008 - 11:14am.

I've seen the Lennar Community called Stonebriat at Wolf Creek.

Personally, I would not choose to live there for my own personal reasons which include a dislke of the cheap building materials used (the kitchen cabinets feel hollow and cheaply made) and the lots are very small.

I've also heard terrible things about Lennar homes from friends in other parts of the country.

No, gracias.

Ever notice how most of
Submitted by flyer on May 19, 2008 - 2:43pm.

Ever notice how most of these "great offers" from builders are never in decent locations?? Now, if they had a deal 10 miles from the beach or less, it might be worth passing along to those who are looking for homes--even if it is Lennar.

I'm not an expert on L.A.
Submitted by Multiplepropert... on May 19, 2008 - 3:05pm.

I'm not an expert on L.A. realty, so I was not sure about locations. I just saw the add when checking out the Lakers on the LA Times page. The two things that I was commenting about was the marketing recognition that "America needs to get moving again", and that there are non-profits that help with down payments. Is anyone aware of such groups?

I'm aware that the IRS
Submitted by blue_sky on May 19, 2008 - 3:15pm.

I'm aware that the IRS considers them a scam:

http://www.irs.gov/newsroom/article/0,,i...

there are non-profits that
Submitted by patientlywaiting on May 19, 2008 - 3:16pm.

there are non-profits that help with down payments. Is anyone aware of such groups?

Those groups are scams and conduits used by developers to get around downpayments rules.  They increase the price of a house and turn around and funnel downpayment assistance to the non-profit which "gift" the money to the home buyers.  FHA and other programs allow gifts to meet down-payment requirements. 

We have regulators that looks the other way as buyers get suckers into those types of deals.