Carefree Title Agency S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

Meritage Homes Corporation

Calculation of Ratio of Earnings to Total Fixed Charges

	Year Ended December 31,
	2012			2011			2010			2009			2008
Income/(Loss) from continuing operations before income taxes and minority interest		28,854			(20,376	)		2,484			(154,799	)		(275,966	)
(Income)/Loss from equity method investees		(10,233	)		(5,849	)		(5,243	)		(4,013	)		17,038
		18,621			(26,225	)		(2,759	)		(158,812	)		(258,928	)
Add/(deduct):
+ Fixed Charges		47,968			45,441			45,936			50,123			53,526
+ Amortization of Capitalized Interest		15,101			9,863			12,228			25,951			37,233
+ Distributed income of equity method investees		9,648			6,497			7,263			8,286			10,049
- Interest capitalized		(21,891	)		(12,994	)		(9,720	)		(10,359	)		(25,606	)
Earnings available for fixed charges	$	69,447		$	22,582		$	52,948		$	(84,811	)	$	(183,726	)
Fixed Charges:
Interest and other financial charges expensed and capitalized		46,135			43,393			43,442			46,890			49,259
Interest factor attributed to rentals(a)		1,833			2,048			2,494			3,233			4,267
Total Fixed Charges	$	47,968		$	45,441		$	45,936		$	50,123		$	53,526
Ratio of earnings to fixed charges		1.4x			0.5x			1.2x			(b	)		(b	)

(a) The interest factor attributable to rentals consists of one-third of rental charges, which is deemed by the Company to be representative of the interest factor inherent in rent.

(b) Earnings were not adequate to cover fixed charges by $134.9M and $237.3M million for the years ended December 31, 2009 and 2008, respectively.

PRO FORMA

	Year Ended December 31,
	2012
Income/(Loss) from continuing operations before income taxes and minority interest		24,765
(Income)/Loss from equity method investees		(10,233	)
		14,532
Add/(deduct):
+ Fixed Charges		48,193
+ Amortization of Capitalized Interest		15,101
+ Distributed income of equity method investees		9,648
- Interest capitalized		(22,116	)
Earnings available for fixed charges	$	65,358
Fixed Charges:
Interest and other financial charges expensed and capitalized		46,360
Interest factor attributed to rentals(a)		1,833
Total Fixed Charges	$	48,193
Ratio of earnings to fixed charges		1.4x