Evergreen Investment/Carnation Bank - Subprime builder and financer
2007-01-25
stories: ohio.com, lawyersandsettlements.com
This duo, operating chiefly in Ohio, built homes and financed them for marginal borrowers. Evergreen appears to be the main operation, with Carnation just serving as a financing partner. Recently Evergreen hit the skids as investors apparently figured out it was insolvent, yet still operating. The pair of companies is now being sued by investors and investigated by local, state, and Federal authorities. Here are some stories:
- Investigators search mortgage company
- Law suits against Evergreen Investment Corp.
- Sheriff says raid was bigger -- Carnation Banc search includes 2 other sites
I get the feeling these companies' days are limited.
Important: This company is on our list of lending operations that are apparently ailing or which we think are worth watching for any other reason. We make no representation or claim that any company on this list will or will not continue as a going concern, or change in any other way, adverse or beneficial. If you have concerns about this company, we suggest contacting them directly and/or checking with other reliable sources.