Housing Bubble 2.0: Opendoor Gets Slammed Shut With $62 Million Fine by FTC for Misleading Customers

Housing Bubble 2.0 - Opendoor Gets Slammed Shut With $62 Million Fine by FTC for Misleading Customers.

Yet another Housing Market issue with the iBuyer group. First it was Zillow with the catastrophic failure of the buy and sell business. Now we find that Opendoor allegedly mislead customers (Home Sellers) that they would make more money selling to them, rather than going down the traditional Real Estate Agent & MLS listing route. Opendoor agreed to settle for $ 62 Million. The very next day they announced a new "product" for Homeowners, which should buy them some much needed goodwill.

This channel discusses recent articles, data and information about the Housing Bubble, Housing Crash, Home Prices, Forbearance, Foreclosures and Short Sales.

Additionally there is a focus on Mortgage Delinquencies, Mortgage Rates, FHA Loans, Real Estate Investing, and Housing Market Predictions for 2022 and Beyond.

Today is August 4th 2022 and Randy will discuss the following topics:

Opendoor Gets Slammed with $62 Million Fine From FTC
Misleading Customers

Links:

https://www.marketwatch.com/story/opendoor-labs-to-pay-62-million-to-settle-ftc-allegations-that-it-deceived-home-sellers-2022-08-01

https://www.rttnews.com/3301757/ftc-fines-opendoor-labs-62-mln-for-misleading-claims.aspx

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I can be reached at:

Randy Patrick
Licensed Real Estate Broker
WestBay Real Estate, Inc.
813-833-2045
randy@luxuryshortsales.com

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