Builders Create Layaway Plans for Homes
Desperate for sales, builders are creating department store copies of layaway plans for prospective homebuyers. Builder layaway plans will be rolling out shortly, encouraging buyers to commit to new home purchases before they have enough down payment funds to actually purchase the home. Plan names range from “PASSBOOK to the American Dream” from Hovnanian to “Buy & Save” plan from Beazer, but all work basically the same. These plans are supposed to keep buyers on a ”steady savings track”
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