ClaytonвЂ™s loan to Dorothy Mansfield, a Army that is disabled veteran vermont whom destroyed her past house to a tornado last year, includes key features that Buffett condemned.
Clayton dealers frequently offer domiciles without any money advance payment. Many borrowers stated they certainly were persuaded to defend myself against outsized repayments by dealers guaranteeing they could later refinance. In addition to normal loan term really increased from 21 years in 2007 to a lot more than 23 years in ’09, the final time Berkshire disclosed that information. Vanderbilt marketed 30-year loans in printed literature offered at Clayton Homes product sales lots this cold weather. (más…)