Mold contamination drives 2nd family from home
A second Daniel Island family has moved out of their D.R. Horton-built house after getting results of a mold test because the parents are concerned about their children's health. David and Terry Pittman said Wednesday that they decided to leave the house July 4 after consulting the ear, nose and throat specialist for their son, Anders, 7, who has suffered repeated ear infections. The highest level of mold contamination was found in Anders' room, the Pittmans said. ". ...The Pittmans were concerned about their house because their next door neighbors, Benjamin and Joy Allen, moved from their D.R. Horton house more than a month ago after receiving results of a mold test. The Allens said their daughter, Madeleine, 3, has suffered repeated serious respiratory problems. The family pediatrician advised that they leave the house.

Homebuilders (PHM, KBH, LEN) Taking A Beating On Fannie Mae And Freddie Mac Worries
Today, Pulte Homes (NYSE: PHM) is trading down over 3% to $8.76. Pulte has fallen over 15% in the past two weeks. KB Homes (NYSE: KBH) is down over 4% and trading at $15.04. KB Homes has fallen 20% over the past two weeks. Lennar Corporation (NYSE: LEN) is trading down 5% to $10.34. Lennar has fallen close to 30% over the past two weeks.

Senate Housing Bill Still Not Put to a Vote
The Senate failed to pass a huge housing package on Thursday, continuing a legislative process that has been repeatedly bogged down by procedural hurdles, even as the housing market worsens. The multifaceted bill, likely Congress's biggest response to the housing mess, would revamp oversight of the struggling mortgage giants Fannie Mae and Freddie Mac, a measure that Treasury Secretary Henry Paulson has said is vital to restore confidence in the U.S. housing market. The bill would also allow the government to insure up to $300 billion in refinanced mortgages, which Democrats say could help up to 500,000 people avoid foreclosure.

Credit card industry
Lawmakers are targeting some of the most common complaints of consumers in legislation that could come up for a vote before Congress adjourns in September. A third piece of legislation before both chambers, the Arbitration Fairness Act of 2007, singles out the mandatory binding arbitration clause in credit card agreements, which prevents cardholders from going to court if they believe they have been wronged. The bill would allow them the right to a trial. Consumers have to act responsibly in using their cards, but deceptive and unfair industry practices can add to the burden. Washington appears willing to help consumers with more regulation.

Local homebuilders must wait to build
New legislation went into effect on June 1st requiring all building contractors to personally be licensed by the state. Previously, only their company needed to be licensed. Thousands sent in applications for licenses. And now there's a huge backlog of builders waiting to get those licenses.

Chopp's House holds up homeowners' rights
How does this jibe with the guy who received a "Schrammie" from KOMO/4 pundit Ken Schram for "leaving homeowners in a lurch" and blocking homeowners from being able to sue for negligent construction?Or the cuts aimed at Chopp from liberal Democrats and their allies in the legal profession who depict him as carrying water for the arch-reactionary Building Industry Association of Washington?... What recourse is there for a new homeowner whose basement floods because the builder has failed to waterproof a foundation wall? The builder blames the weather. Or what happens when floors haven't been leveled, or a builder fails to properly seal toilets. The it's-not-my-fault game can go on and on, with nobody offering to fix the house.

How fighting back enabled a family to keep its home
"Because mortgages were sold again and again and then to Wall Street where they were securitized and sold all over the world, I wonder how many homeowners have been foreclosed by a company that couldn't even show proof that they owned the mortgage." - Nancy Seats, president of Homeowners Against Defective Dwellings, speaking about the case of a homeowner who managed to stop a foreclosure on her home four times because the documentation on it was so flimsy and convoluted that lenders couldn’t even prove they owned her home to have the right to foreclose on it.

Banks vs. Consumers (Guess Who Wins)
The National Arbitration Forum (NAF), a for-profit company based in Minneapolis, specializes in resolving claims by banks, credit-card companies, and major retailers that contend consumers owe them money. Often without knowing it, individuals agree in the fine print of their credit-card applications to arbitrate any disputes over bills rather than have the cases go to court. What consumers also don't know is that NAF, which dominates credit-card arbitration, operates a system in which it is exceedingly difficult for individuals to prevail.

Charlotte Observer foreclosure series awarded Loeb
“Sold A Nightmare” wins a top business journalism honor.The series, which ran throughout 2007, detailed the sales practices that contributed to housing foreclosures in the area and led to federal investigations of Beazer Homes USA, one of the nation's largest homebuilders. “Sold A Nightmare” has earned numerous accolades, including from the Pulitzer Prize board, which named the series a finalist for the 2008 Gold Medal For Public Service. It has also received the George Polk Award for Economics Reporting and honors from the N.C. Press Association, the Society of American Business Editors and Writers and the National Association of Real Estate Writers.

Craig's New House

Typical unfinished home; leaks caused by unfinished and loose plumbing, unsecured tube and plumbing not installed properly, dents, unfinished drywall and paint. You Tube Video...