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Printed from the Charlotte Observer - www.CharlotteObserver.com
Posted: Tuesday, Jun. 09, 2009

THE DAMAGE: Later phases suffered most

Published in: 'Nightmare' archive

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Of the 406 original buyers in Southern Chase, 77 lost homes to foreclosure and at least an additional 12 filed for bankruptcy protection to stave off foreclosure.

The problems were concentrated in the third, fourth and fifth phases, where Beazer arranged most of the loans and charged higher prices for the homes.

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