No qualified buyers? No problem let's get them qualified

This is an advertisement of a homebuilder addressed to realtors with clients (homebuyers) that don't qualify to buy a home.

Most of the homebuilders have their own mortgage company... so after selling people homes they couldn't afford in 2004-2005-2006, what are their plans for 2007 and 2008?
You guessed it right, they are going to sell homes to people who can't qualify for a loan by giving the realtors tips on how to raise the credit rating of their clients, so they become qualified (for a home they wouldn't orhterwise be able to afford).

Oh my, this is one big mess. Those homebuilders deserve to go bankrupt.
I think I hear Gold $1000 coming.

First big homebuilder to go bankrupt, who will be next...

TOUSA is better known to the public as a group that combines these homebuilders: Engle Homes, Newmark Homes, Fedrick, Harris Estate Homes, and Trophy Homes.

HOLLYWOOD, Fla. (AP) — Homebuilder TOUSA Inc. said Thursday its third-quarter loss widened and it may be forced to file for bankruptcy as the housing slump in Florida worsened.

The company said its ability to remain solvent depends on restructuring to reduce debt in exchange for equity.

TOUSA shares plunged to 25 percent to 19 cents in morning trading on the news. The New York Stock Exchange has informed the company it may delist the stock because it has traded below $1 for more than 30 days.

PS: Our rental is an Engle home.