2010-06-03azcentral.com

``The Tempe-based homebuilder is trying to fend off a competing reorganization plan proposed by its creditors, led by Bank of America, that would involve liquidating the company and selling off its remaining assets... According to the homebuilder, which filed for Chapter 11 reorganization in January 2009, a successful effort to reposition the company from a luxury-home builder to a provider of lower-cost homes for first-time buyers has led to a dramatic increase in home sales and net income.'' -- Life is good when you're flogging FHA-financeable homes, we suppose!


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