Comment of the Day: What Royce Builders Sold Me

COMMENT OF THE DAY: WHAT ROYCE BUILDERS SOLD ME “I bought a home from them in oct 2007 and got riped off. First I am still trying to figure out how I even got financed based on my income. I was making about $1200.00 a month and my notes where almost $900.00 a month. Then I have an adjustable rate morgage which would go up every 6 months. I thought about it after the fact (I had to give up my home) that they must have messed with the figures to get me in the home at the first place. I couldn’t get them to come fix things that come with the home warranty. If anyone knows what kind if any lawsuit is out on them would you please let me know.” [monmon, commenting on No-Charity Case: Royce Builders Education in Bankruptcy]

11 Comment

  • Why does it not surprise me that someone who has apparently no business buying a house in the first place is now looking for someone to do the research for them on whether their home builder is under some kind of lawsuit?

    Sometimes I wonder how people ever find their way home (which, ahem, they apparently don’t belong in).

  • C’mon Random- no need to be ugly.

    monmon – you paid a big price for your education but I have to believe you will never again make a major financial decision w/o reading the fine print and bringing along a financially savvy friend. (Any decent realtor would have steered you away from this.)

    Lets be honest. It takes a heap of denial to think that spending 75% of your income on shelter is a smart decision.

    I don’t think there is a 12 Step Program for the millions of Americans who choose to believe fairy tales about money – but there should be.

  • Random Poster I totally agree w/ you. Is this person really trying to garner sympathy? Sounds like s/he knew what they were getting into. I’m kinda glad they got riped off!

  • This must be an April Fool’s joke, right?


  • Lets remember what day it is. April’s Fools Day! The post cant be real.

  • This was one of the greatest April Fool’s prank posts ever! Pithy, sardonic, and so true…

  • I think monmon was just trying get the point across for buyers to beware that companies who are having finacial problems will try anything to get money.I know a few people who lived in a neighborhood where royce builders were building and about half the homes there were forclosed on even before anyone moved in.

  • Just an honest mistake. Monmon thought it was their turn to win the lottery and that would pay for the house. Should consider it stupid tax paid, get the certificate from the school of hard knocks, and move on.

  • There were probably quite a few lenders who were hoping to foreclose in a market that seeing wild valuation increases around the country. Sort of a lender version of the flip. They didn’t plan on the bottom falling out.

  • Eek, I hope that’s a joke comment. I remember making $1200 a month and not thinking I could make it with two roommates in an apartment. If this is a serious comment, it’s a perfect summary of why the crisis went down as it did. Delusional people who thought they deserved the best no matter their income and scandalous builders and mortgagers who were too happy to comply. They all got what they deserved, but the rest of us pay for it. Yay.