The developer behind a brand-new residential community in Hardeeville is being sued in Florida for allegedly lowballing buyers on their total monthly costs.
Texas-based D.R. Horton is being sued by five plaintiffs for allegedly giving buyers quotes that were lower than their payments. The plaintiffs allege that D.R. Horton and its mortgage arm, DHI Mortgage (DHIM), knowingly suppressed anticipated property tax estimates, leading to monthly payments that were actually about $1,000 more than initially laid out.
One plaintiff, Frankie Santiago, said he was promised a $2,164.68 monthly payment by the company, but ended up paying $3,136.33 less than a year after closing when a new servicer conducted an escrow analysis. The four other plaintiffs said they were promised a $2,602.47 monthly payment; they paid $2,597.84 for almost two years, but after an escrow analysis that payment increased to $3,439.07…