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LATEST NEWS
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Moetgage Defaults _ Beware of builders lenders & title companies... |
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Wednesday, 01 March 2006 |
Dominion’s defaults to become less visible
Dominion, whose customers’ high default rate on government-insured mortgages has recently triggered lawsuits and investigations, announced details yesterday of a plan to sell a controlling interest in its mortgage division...The homeowner still needs to be very cautious," said Janet Ahmad,a Texas-based group that pushes for stronger oversight of home builders... partnerships between builders, lenders, title companies and appraisers typically benefit the companies at the expense of buyers. Related articles on Dominion see: Special News Reports |
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Class-Action:Charity Down-Payment Grants |
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Friday, 24 February 2006 |
Homeowners file third lawsuit against Dominion
Disgruntled home buyers filed a third class action lawsuit this week against builder Dominion Homes. In the latest civil action, the homeowners accuse top executives including chief executive officer Douglas G. Borror and his brother, David, of offering them charity down-payment grants that give the illusion that buyers are getting something for nothing. David Borror is corporate executive vice president. |
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Dallas Morning News - KB Home agrees to drop arbitration from warranties |
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Thursday, 23 February 2006 |
KB Home agrees to drop arbitration from warranties
KB Home agreed Wednesday to drop binding arbitration from its customer warranties as part of a class-action lawsuit settlement... Opponents of binding arbitration say it puts an unfair burden on buyers because the arbitration process can be expensive and the proceedings do not afford the same rights to parties as a court would. KB Home agreed to modify the existing warranties of tens of thousands of homeowners, who will be notified by mail, the newspaper reported. The option of arbitration will remain available to owners. |
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HOBB Press Release - KB Home Settles Unprecedented Arbitration Class Action Case |
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Thursday, 23 February 2006 |
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KB Home Settles Class Action Binding Arbitration Case
The settlement Wednesday of a class-action lawsuit against KB Home over a binding arbitration clause in homebuyer’s warranties will affect thousands of Texas homeowners...With the settlement of this class-action suit it effectively declares that KB Home and its subsidiaries binding arbitration clauses are invalid, and that homeowners can now sue KB Home in a court of law rather than being forced into binding arbitration over construction defects. |
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AP Wire: KB Home settles class-action and drops arbitration |
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Thursday, 23 February 2006 |
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KB Home agrees to drop arbitration from warranties
KB Home agreed Wednesday to drop binding arbitration from its customer warranties as part of a class-action lawsuit settlement. |
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Consumers Union wants to hear you Manufactued Home Story |
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Thursday, 23 February 2006 |
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Share Your Manufactured Home Story
Has your manufactured home met the dealer's promises and your expectations--or did the dealer dawdle completeing the initial installation and warranty repairs you requested? Did you pay too much for the home? Did your high cost loan eventually cost more than you could afford? |
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Foreclosure Troubles for Minorities |
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Wednesday, 22 February 2006 |
For Minorities, Signs of Trouble in Foreclosures
The housing boom of the last decade helped push minority home ownership rates above 50 percent for the first time in 2004... But hidden behind such success stories lies a disturbing trend: in the last several years, neighborhoods with large poor and minority populations in places like Cleveland, Chicago, Philadelphia and Atlanta have experienced a sharp rise in foreclosures, in some cases more than a doubling, according to an analysis of court filings and other housing data by The New York Times and academic researchers....The increase in foreclosures could be the first of a wave of financial distress for many minority homeowners, experts say, because they are twice as likely as whites to have taken out expensive subprime mortgages, most of which will jump to higher interest rates in the next two years, according to an analysis of data that lenders disclose under the federal Home Mortgage Disclosure Act. |
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Homebuyers get money back |
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Tuesday, 21 February 2006 |
Would-be home buyers want money back from builder
Eyewitness News: The customers say they tried to get their earnest money returned, but nothing was happening, that's when they called us. |
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Centex, HUD, redevelopment & privatization of public housing |
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Saturday, 18 February 2006 |
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Valenti Allows Franklin and Centex Homes To Sneak Back Into Public Housing Redevelopment Not only were Franklin, Saunders, etc voted out once but twice and one participant in the process gave them a 0 out of a possible 100 points... Now less than 3 months later HUD... re-development...will replace a public garden and a boxing club that once was gathering spot for youths in the area, is involved in a number of million dollar projects in the area which has produced not one unit of affordable workforce housing. Another participant in the redevelopment of the Cohen Way housing re-development and incidentally along with Franklin is not mentioned in the press release put out by Valenti announcing the selling of public lands to a private developer, Habitat for Humanity is Centex Homes. |
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POA Poll- 89% Say TRCC is unfair |
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Friday, 17 February 2006 |
POLICYHOLDERS OF AMERICA POLL
5,644 respondents in poll - 82% would not vote back in office any legislator, regardless of party, that is soft on bad homebuilders? |
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High Profile Mold Cases Increase |
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Thursday, 16 February 2006 |
Mold spawning litigation
Mold litigation is more than a decade old, but it picked up steam after 2000. A spate of high-profile cases and large awards attracted media attention, which in turn created public awareness leading to more litigation... The largest recent case concluded in October 2005 in California when a lumber company settled with a plaintiff for $13 million. That combined with settlements from co-defendants brought the case's total to $23 million. In 2003, a class-action suit in Washington state against a paint maker ended with a $55 million settlement for 5,000 state residents and a $107.5 million settlement for national members of the class. |
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Tuesday, 14 February 2006 |
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Inspectors Display Integrity
Third party inspectors resign from the Texas Residential Construction Commission in protest (TRCC).
"I'm not willing to risk my credentials as being viewed an endorsement for this nonsense. I can better serve the consumers of Texas as a private inspector and expert witness for defects before they waste their time with the SIRP claims. Effective immediately, please remove me as an active inspector with this commission." |
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Express-News Commentary by Janet Ahmad |
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Monday, 13 February 2006 |
Comment: Homebuyers deserve better protection
In early 2003 the building industry contrived convincing tales of woe, along with millions in political action committee contributions, that persuaded some Texas lawmakers to help create the unprecedented experimental state agency... In the comptroller's report, there is compelling evidence that lawmakers made a mistake and were duped into going along with the building industry's long-term plan to thwart homeowners. The report gives failing grades to TRCC, and the revelations are reprehensible... despite the requirement for a criminal background check, "TRCC files show that a currently registered builder was convicted of burglary of a vehicle, burglary of a building and attempted homicide. Another builder was convicted of a sex crime and registered as a sex offender just months before he was allowed to register as a homebuilder." |
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The American Daily - Commentary |
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Monday, 13 February 2006 |
A SHABBY ‘NEW’ HOUSE FOR A HALF-MILLION DOLLARS !
...my new house was a challenge. How do you deal with workers and service representatives who really don’t give a damn? Their game is to wear you down so you become so numb that you simply give up. They could care less about the time and money you have invested to make things work...The customer – the consumer – is no longer in charge of what they buy. They are at the mercy of the builder, the electrician, the plumber, the carpenter, the painter, and the indifferent service reps and sales clerks at the retail stores. I’ve lost the America I grew up in during the 1940s and ‘50s. I no longer expect to see that level of care and consideration for the rest of my lifetime. |
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Sunday, 12 February 2006 |
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Troubled contractor should not have been certified In Jacksonville
In December, contractor David Vickers filed for bankruptcy leaving several of
his clients out in the cold. However, Vickers is still working.
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D.R. Horton/Dietz-Crane Want To Buy A Home - You Can't Sue Us! |
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Saturday, 11 February 2006 |
YOU AND THE LAW: PATIENCE BIG MISTAKE WITH NEW HOME BUILDER
| Dietz-Crane builds homes all across America. They are part of the D.R. Horton family of construction firms, and describe themselves with these words: Pride, Care and Craftsmanship go into every home we build... Business is good for Dietz-Crane, and for D.R. Horton, very good. Unfortunately, what is good for them -- a home construction universe on steroids -- may not be especially good for some of their customers... Want To Buy A Home - You Can't Sue Us! “It said I am waiving my right to sue for breach of contract or other defects with the house,†he told me. “It was sign that form or we will sell your house to someone else, leaving no choice as we wanted the house. While I do not think it is legal, and have heard of other builders sued even with the same kind of language in their contracts, it seems to be high pressure and not very ethical,†Andy Tang concluded. |
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