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Rumple Stiltskin
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posted 30 October 2006 07:50 CET
Citizen complaint:
The tip of the iceberg? Have these people complied with all regulations and taken an ethics course? Are the following examples of realestate transactions between willing buyers and sellers, or something more? Arm's length transactions? Theft can take many forms and some thieves are more sophisticated than others. Health effects of the realestate industry, some good, some bad for society.
Excerpts from the article at HADD.com, Homeowners Against Deficient Dwellings, Headline News
Steal of a deal
Houses bought at inflated prices. Millions in loan proceeds allegedly pocketed. All ending in foreclosure. In Colorado, it's one part of a nation-leading problem.
By David Olinger
Denver Post Staff Writer
Article Last Updated:10/29/2006 03:56:18 PM MST
The buyers "saw our big signs on Parker Road and came in, just like any other customer would," he said. "Investors buy multiple properties. They were portrayed as investors."
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Critics say mortgage companies have little incentive to ferret out inflated sales because they bundle and resell their home loans to Wall Street investors, taking their profits and diluting fraud losses in large pools of mortgage-backed bonds.
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These securities get "sold in little pieces all over the world," said Lou Barnes, a Colorado mortgage bank owner. "It makes it very difficult to figure out who, if anyone, bears any responsibility for the flow of Colorado's foreclosures."
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The extra cash was supposed to be "rehab money," she said. "I didn't know better. I was believing the Realtor and the mortgage lady," who was also her partner.
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Johnson said appraisals were inflated to support purchase prices. Her partner, she said, squandered the home improvement funds on "trips to Disneyland, car repairs, shopping sprees - gambling was huge."
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"Their blaming other people is typical," he said. "Nothing has been their fault, and they are not responsible for their actions." |
dwenk1@cfl.rr.com
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posted 28 October 2006 18:38 CET
Try to imagine the horror and disappointment I felt just after successfully completing my first round of Chemotherapy, when a nurse stepped into my room at MD Anderson Cancer Center and asked, "I bet you are glad to be going home"!
Yet, just one month after being diagnosed with Acute Myelogenous Leukemia, I was not able to return home. I explained to the nurse that my infectious disease specialist had given me strict orders NOT to return to my house. At a critical time when I needed the support and love of my wife and two children, I was ordered to make other living arrangements. I wouldn't be able to wake up to the sound of my children laughing. I wouldn't find comfort in my own bed next to my beautiful wife. I was struggling with my life threatening illness and now needed to find a new place to live.
Where do things stand today - October 2006? I struggle daily with the fact that I CANNOT live with my family under the same roof, thanks to Levitt and Sons. I have a life threatening illness that will require 100% of my time and a positive attitude. The mold conditions in our home exacerbated my current illness. Levitt's inability to fix things correctly and allowed the removal of moldy building materials without sealing off the area correctly has not only deteriorated my entire family's health, but now it is consuming energy I need to get well. A good portion of our house is left unfinished. Our bedding and furniture has to be replaced. Our carpeting needs to be replaced. Our air ducts need to be sanitized. Our walls need to washed and repainted. This stressful situation is draining our financial abilities. We can't sell the house, we can't live in the house, and we can't refinance the house. Where do we go from here?
It amazes me how unified people can be in time of need. My life threatening illness has brought people to me and my family asking what they can do to help. Some people have donated of themselves with blood and platelets. My sister is donating her bone marrow. My mother is helping me with living arrangements. Many people have sent cards and prayers. My wife and children are continuing to give me the love and support I need to hang on for dear life.
It is time! Levitt and Sons needs to step up to the plate and make the wrong right. They need to remedy this situation in an amicable manner so that I can heal in peace and make the best run for my life. Please make that dream happen.
Contact: webmaster@levittandsonshome.com |
Rick
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posted 27 October 2006 13:54 CET
We signed a contract with KB Homes for a model home at Summerlin Village in Arizona. The model was actually owned by KBOne inc. which is some entitiy of Dynex Capital in Virginia. We signed the contract and gave our 'money order' down payment on Oct 7. A week after signing the contract, our sales rep called me and told me KBOne inc. signed contract and scheduled a final walk through.
Another week and a half goes by and then I get another phone call from our rep saying that KBOne inc. hasn't signed the contract and is backing out of the deal.
The contract states that it can be binded by an authorized rep from KB Homes which it was. Now they are falling back on a part of the contract that states that a signature by KB Homes doesn't mean the offer is necessarily accepted.
The truth is that these contracts are normally approved by KB Homes and the transactions always go through. In this case because of what happened to the housing market someone at Dynex Capital decided 3 weeks after approving the sale of the KB Home that they didn't want to go through with the sale.
This KBOne inc. entity is a bunch of crap, and if a company wants to form an entity to screw over the government, and manipulate their stock price that's one thing, but to use it to steal my family's Christmas is cowardly and pathetic.
Does anyone in business have class or dignity anymore?
There were 2 other families that KB Homes did the same thing to.
Please email me if you are one of those other families at maxandluke30@yahoo.com or anybody else that can offer help or advice. |
EMILIO
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posted 22 October 2006 00:46 CET
I BOUGHT A HOME 14 MONTHS AGO IS THE NIGHT MARE FROM HELL WITH DR HORTON. POOR QULAITY UNSKILLED LABOR BROKEN PROMISSES ABOUT GETTING REPAIRS DONE IN THE HOME FROM BACK YARD BEEN LEFT A MESS NO DRAINAGE TO CRACKS ON THE WALLS OUT SIDE VERY CHEAP CONTRUCTION MATERIAL HAD EXTENDED COVER PATIO WITH PILLARDS THEY NEVER FIXED CORRECTLY I HAD TO FIX IT MY SELF THE PEOPLE ARE CONARTIST LIARS DISHONEST. I DO NOT AND WILL NOT EVER BY A HOME FROM DR HORTON. |
Karen Manning
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posted 18 October 2006 09:57 CET
Before you buy a Rottlund Home I invite you to visit www.myrottlundhome.com and view our home and the comments posted by others who have purchased homes by this builder. |
Susan
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posted 13 October 2006 12:54 CET
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Click to add CWM-Smilie #36 to your message
About a month and a half ago I purchased an upscale townhouse in
Atlanta, built by Brock Builders, a building company that was actually given the builder of the year award in Georgia. It was a resale home and was built in 2002. About three weeks ago, my daughter noticed a wet stain on the carpet in the finished basement where her bedroom is. After taking a closer look, we noticed that the wall board was bulging with water and knew we had a problem. We ripped up the carpet and much to our horror found rotting carpet pads, mold and mildew, and a problem that has been going on for much longer than a month. We ripped out the entire sheet rock wall all along the basement to expose the foundation and discovered, not one but SEVEN cracks in our foundation! Water was coming in almost every room of our basement. The costs to repair the foundation plus repair the walls and carpeting have been estimated at around 35,000 dollars. Nothing about water damage was listed on the disclosure when I bought the house, and the inspector found no signs of water damage at the time of the inspection.
We have tried contacting the builder mutiple times just to recieve voicemail over and over again. We have also contacted the previous owner, who denies knowing anything about the water damage. Unfortunately attempts to get him to cover the cost I'm afraid will be useless as he is vice president of an extremely large real estate company and I'm sure has a team of lawyer's just waiting for a lawsuit.
We simply cannot afford to pay for the damages, and are still in shock that a four year old house built by a so called respectable builder in Atlanta could have such severe problems. If anyone has ANY advice or similar stories about Brock Builders or Brock Construction, I would be more than happy to hear about them. Thanks,
Susan |
Rumple Stiltskin
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posted 12 October 2006 17:59 CET
I would never buy another new house. If I had been aware of the possibility or anticipated the deceitful behavior of my new house builder and known how difficult it would be to protect my interests, should my new house prove defective, I never would have bought a new house. The potential emotional and financial risks are not worth taking and, in my opinion and experience, no other legal product is fraught with as much potential risk for the purchaser as is a new house. Purchasing a new house is a very emotional experience, purchasers are often very vulnerable and naively trustworthy. Often times, discounting as overly alarmist, preliminary disclosures regarding the new house warranty, standards of construction, etc. Many new house purchasers may even think the new house builder's sales personnel are their friends who are looking-out for their interests. This may even be so. Given the horror stories experienced by new house buyers, the turning of the American dream into the American nightmare, on this web site and many others, I think that consumer warnings regarding all aspects of a new house purchase, cannot be made strongly enough to protect the interests of purchasers who are making the largest purchase of their lives, in the current new house building environment. |
Robert A. Balli
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posted 12 October 2006 09:28 CET
I have a Centex home in North San Antonio (by Bulverde). After one year of living in this home we started to ask our neighbors about their electric bills and we quickly realized that ours was significantly higher. We even paid the, almost $2000, upgrade for the "Energy Package". I went up to my attic to check the depth of the insulation to see if it was where it should be. When we got up there we were shocked... THERE WAS NO INSULATION!!! That's right... ZERO!!! I was in shock. My first reaction was, "I should have checked it during the walkthrough." Then I started to think, "THEY should have taken me up there during the walkthrough." I called the field manager and told him what I found. They had someone out there the next day to put the double-blown insulation in the attic. I asked about replacing my A/C unit, since it had gone out four times in a year. They just extended the warranty another two years. When I asked them about my electric bill, they reimbursed me $420.00. Turns out... mine wasn't the only house in the neighborhood with NO INSULATION or too little insulation. If you are going to buy a Centex home, PLEASE CHECK THIS OUT!!!! |
Patricia Meyer
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posted 9 October 2006 22:25 CET
I am responding to Janet's email and am excercising my right to tell it like it is. As an update: We are currently in Federal court against our county for approving the building of our house in a pond and 404 wetland area among other complaints. We are also upset that the fire hydrants and sewers that the plannning review unit signed off on are not in our neighborhood. Our house is full of mold and shifts and sinks and turns at the whim of Mother Nature and the incompetant drainage and engineering of the engineers who designed the area we live and the county employees and officials who certified it. I have been fighting this fight for almost ten years and cannot give up and will not give up. If they keep me here any longer I will just have to run for public office again.
Pat |
Bob Gray
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posted 9 October 2006 08:21 CET
This is not a complaint, but I am considering having a home built by GEMCRAFT HOMES in Pennsylvania. I saw only one entry about Gemcraft Homes. Has anyone had any experience with them? The lack of many complaints seems encouraging, and I am very impressed with them so far. |
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