A national homebuilder with development projects in the Tri-Cities is facing a federal lawsuit alleging it intentionally misled homebuyers about the true monthly costs of its homes.
The case, filed in the U.S. District Court for Middle District of Florida by several homebuyers, claims D.R. Horton uses its preferred mortgage lender, DHI Mortgage, to provide artificially low monthly payment quotes that don’t include the full cost of taxes.
“Defendants have actual knowledge of the true property tax amounts throughout the entire home sales and financing process, and they know what homebuyers’ monthly payments will actually be; however, they prominently and repeatedly center the suppressed monthly payment in all the paperwork provided to homebuyers,” the lawsuit states. “It is not until well after closing that homebuyers learn the truth, when their monthly payments increase…
