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ABC Special Report
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Legend - Latest News
Homebuilders may have constructed a fortress
Sunday, 19 September 2004
Homebuilders may have constructed a fortress
Some say their political donations have cost consumers the right to file suit 
 San Antonio Express-News
When Delores Rollins bought her dream home in the Hart Ranch subdivision off De Zavala Road seven years ago, she had no idea the purchase would draw her into the state and national political fray…   Rollins believes she has wound up on the short end of a long-term effort by Texas homebuilders to protect themselves from paying for their mistakes...  Hoagland said the broad reforms pushed through in Bush's first term — caps on punitive damages, restrictions on venue-shopping and limits on shared liability, among others — may have benefited the homebuilding industry…   ""How many times do they have to win?"" said James of the Consumers Union. ""I think the deal is that it's not about logic, it's not about justice, it's about muscle. And the business community has a ton of muscle, and they don't want to be liable for anything.""
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Witness: Rot Ruined Sandra Bullock's Home
Sunday, 19 September 2004
Witness: Rot Ruined Sandra Bullock's Home
Sandra Bullock's Texas lakefront dream home dissolved into a house of horrors, according to ... Showing the jury a video of the construction defects, Griffith said ...
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Sandra Bullock trial continues with builder's testimony
Sunday, 19 September 2004
Sandra Bullock trial continues with builder's testimony
Houston Chronicle, TX - Aug 25, 2004
... foot, multi-million dollar Lake Austin mansion for movie star Sandra Bullock shifted into a ... the house needed $4 million in work to fix design defects after it ...
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Sandra Bullock's Texas House Trial Begins
Sunday, 19 September 2004
Sandra Bullock's Texas House Trial Begins
People Magazine ... The characters are Sandra Bullock, her father John Bullock, Benny Daneshjou and a ... days – experts will come to testify that, among other defects, the framing ...
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Actress takes stand in mansion lawsuit
Sunday, 19 September 2004
Actress takes stand in mansion lawsuit
San Antonio Express (AUSTIN — Sandra Bullock, the Hollywood star of ""Miss Congeniality,"" was anything but congenial ... done, about $4 million was needed to fix design defects in the ...
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Update on Sandra Bullock's Days in Court
Sunday, 19 September 2004
A $1.5 million price tag for a home by Hollywood standards is a modest sum; however, when that price tag soared to $6.5 million and the owner cannot live in the home, it becomes a nightmare and lawsuit. 
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Sandra Bullock Trial
Friday, 03 September 2004
Judge Wants Speedier Sandra Bullock Trial
DEMANDED: Judge Paul Davis, presiding over the case of Sandra Bullock and Texas developer M.B. "Benny" Daneshjou, whom the actress claims dashed the hope of making her $1.5 million dream house a reality, on Thursday advised both sides to "speed the trial along," reports PEOPLE.
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ATTENTION:Individuals who have the new home warranty HBW and feel they have been treated unfairly or
Wednesday, 01 September 2004
ATTENTION:Individuals who have the new home warranty HBW and feel they have been treated unfairly or been adversely affected by an unfair arbitration, please read and respond: Background: Home Builders Warranty (HBW) has a history of selling new homebuilder warranties and declining 86% of all homeowner claims.  There is wonderful news out of Washington – Public Citizen founded by Ralph Nader has been investigating HBW and its conflict of interest with Construction Arbitration Services (CAS) and is calling for investigations in 12 States.
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Actress takes stand in mansion lawsuit
Wednesday, 01 September 2004
Actress takes stand in mansion lawsuit
Walter Mizell, one of Bullock's lawyers, has said that even after the construction was done, about $4 million was needed to fix design defects in the massive home…Originally contracted to build Bullock a 5,000-square-foot home for about $1.2 million, Daneshjou, who Bullock said was described to her as being ""the best architect in Austin, if not in Texas,"" ended up building a house double the size of the original plan. Bullock's attorneys say she paid the builder more than $6.5 million before halting further payment…
 
Looser lending leads to more foreclosures
Saturday, 28 August 2004
Looser lending leads to more foreclosures
Saturday, August 28,
By PAMELA YIP / The
Dallas Morning News

""Over the last 10 to 12 years, underwriting guidelines have gotten much more lax,"" said David Motley, an executive vice president at Colonial National Mortgage in Fort Worth . "Today you can get a 100 percent loan on a purchase or a 106 percent loan on your purchase to cover the closing costs."

Critics say the looser standards contribute to high foreclosure rates nationwide because owners with no equity in their homes find it easier to walk away from mortgages if they get into financial difficulty – and can get approved for another mortgage later.

Even with low mortgage rates, first-time buyers have strapped on so much mortgage debt that ""roughly one-third now pay at least 30 percent of their after-tax income on shelter, and half of the lowest-income households spend at least 50 percent of their incomes on housing,"" according to a report published this month by Merrill Lynch.

 
Star Community Newspapers/Frisco Enterprise
Friday, 27 August 2004

Editorial
Homebuyers’ protections should be strengthened
In a move that could set a state precedent, Dr. David Becka and his wife, Carol, are calling for changes in the Frisco city charter to strengthen protections for people who buy new houses… They want to ensure that homebuyers are as much informed about their purchases as is possible and that new-home builders should be required to file surety bonds with the city to help protect homebuyers when problems develop.  http://takebackyourrights.com/

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Reckless Endangerment
BY: GRETCHEN MORGENSON
and JOSHUA ROSNER

Outsized Ambition, Greed and
Corruption Led to
Economic Armageddon


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