Florida homebuyers have filed a class-action lawsuit accusing LGI Homes, loanDepot and their joint venture, LGI Mortgage Solutions LLC, of running an “improper home-sales scheme.”
The complaint, filed in federal court on July 29, alleges the companies rely on misleading monthly payment advertisements and high-pressure tactics to steer renters into mortgages they cannot afford. The lawsuit follows investigative reporting by Hunterbrook Media, along with public filings and statements by LGI, according to the complaint.
LGI did not immediately respond to HousingWire‘s request for comment. loanDepot said it had no comment.
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