Overpriced Homes

Fort Wayne, IN: (Nov-28-07) A class action lawsuit was filed against the Fort Wayne Neighborhood Housing Partnership by homeowners who claimed they were harmed after buying overpriced homes. The suit, filed in Allen Superior Court in April 2006, alleged fraud, negligence, civil conspiracy, breach of contract and breach of warranties by the housing partnership. Sources claimed that originally, the lawsuit was filed on behalf of eight clients and grew to about 260 as a class action suit. The suit further accused two appraisers of similar offenses, stating that they worked in tandem with the partnership in inflating the homes' prices.

As part of a settlement reached, the affected homeowners won a $2.4 million settlement against the defunct non-profit. Sources claim that the partnership's insurance company will pay the first $400,000 portion of the partnership's judgment. [JOURNAL GAZETTE: REAL ESTATE FRAUD]

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