Quote:
Originally Posted by redwitch
Could be that the 20% federal requirement has been met. If it hasn't it would be illegal to bar someone under 55. Once met, it is the builder's option. When it looked like there might be issues with people being able to qualify (like 2 years ago), TV pretty much was taking anyone who could pay. Now, it seems to be getting fussy again -- they've found people are willing to buy here regardless of the market nationwide.
Guess you could find someone you trust to put on the deed over 55 and then remove them after you hit 55? Or did they say they had to live in the house? Also wonder if things are as stringent for pre-owned homes? Hmmm .... time to do some checking.
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Redwitch,
You may be correct -- perhaps TV is being stringent with the age 55 rule for new construction and not being stringent with selling pre-owned homes to those under 55. What if an under 55 buyer put an elderly parent(s) or an over age 55 sibling on the deed, but the parent(s)/sibling never actually moved into the house? After the deal closed, would TV do a home inspection to see if the over 55 person was actually residing in the home?