Congratulations are in order to Matthew Birkbeck of the Pocono Record for winning the Investigative Reporters and Editors award for his investigative series:
“A price too HIGH”… blowing the Home Builder/Inflated Appraisal scandal in the Poconos wide open.
It’s been long known as the Poconos’ “Dirty Little Secret”, where creative financing is used to lure New Yorkers to buy homes which end up worth a fraction of the cost by a real appraisal. The end result is you have a house you can’t afford, and no way to refinance for a better rate. (And you know how I was burnt!)
The news report focuses primarily on Raintree Homes (who sued the Pocono Record and lost…BIG TIME.), but I can assure you there are many more uscrupulous home builders just like them. New Yorkers really need to do their homework, before considering a move to the Poconos.
(Check out this spoof site of Raintree’s… it’s hilarious!)
Other Great Links: