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99 Year Developer Fee Legal in Texas |
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Latest News
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Tuesday, 17 August 2010 |
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Government zeroes in on home developer fees
The Federal Housing Finance Agency said Thursday it's zeroing in on the practice after meeting with a coalition of real estate agents, title companies and consumer advocates that opposes it. Developers are able to collect the fees because they include private transfer fee covenants in their sales contracts. Under the covenant, the buyer agrees to pay the developer or an outside investor up to 3 percent of the future sales price when they end up selling the home. And for 99 years, any subsequent buyer is subject to pay the fee when they sell. Private transfer fee covenants are illegal in 18 states, but not in Texas. Related article: Home sellers beware: Fee might be hidden
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Bad County Plan - Homeowners Pay $7,731 for Bad Street by Obra/Sivage |
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Latest News
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Thursday, 29 July 2010 |
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Homeowners get help
Ventura Heights' road woes sparked the countywide survey that was outlined at Commissioner's Court on Tuesday. Residents of the neighborhood, in an unincorporated area near Converse, implored officials again to remedy their plight. Officials offered several long-term options. One plan would have the budget-strapped county assume responsibility for Ventura Heights' roads, making all taxpayers responsible for maintenance. In other scenarios, a special district could be formed where a road maintenance tax would be imposed for 30 years; or residents could be required to pay a share of the upkeep. In May, the county estimated it would cost $1.3 million to bring Ventura Heights' streets into compliance at a cost of $7,731.84 for each of the 170 homes. |
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'You pay, you pay, and you pay.' |
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Latest News
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Thursday, 29 July 2010 |
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Pothole problem turns into Ventura Heights blame game
"From the beginning it's been, the homeowners, 'You pay, you pay, and you pay.' There is nothing new. There is no change in that. And what upsets us the most is that somebody dropped the ball. The ball was dropped at county, and we are being blamed for it," says resident Kent Butler. Residents in the neighborhood say the dispute has turned into one big blame game. |
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County takes steps to hold builders responsible for street failures |
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Latest News
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Thursday, 22 July 2010 |
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Bexar County targets neighborhoods with street problems
Green says her staff started compiling the long list of neighborhoods with street deficiencies three months ago. Of the 121 communities, 48 subdivisions are in Bexar County Precinct 1, 16 subdivisions are in Precinct 2, 27 neighborhoods are in Precinct 3 and Precinct 4 had 30 subdivisions on the list... |
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Bexar County Suffers with 535 Defective Neighborhood Street Failure |
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Latest News
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Saturday, 17 July 2010 |
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Patchwork fix could come for neighborhood's pothole-filled streets |
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County Commissioners Frustrated Over Developers and Builders Substandard Construction |
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Latest News
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Thursday, 01 July 2010 |
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Can County Get Ventura Heights Out Of Lien Times?
That's County Judge Nelson Wolff in yesterday's Bexar County Commissioners Court expressing his frustration with flimsy state law that allows for messes to develop like the one currently found in Ventura Heights, an unincorporated subdivision...they are wary of opening what Precinct 2 Commissioner Paul Elizondo called "a Pandora's box" among the 122 units throughout Bexar County experiencing similar problems. "We cannot make decisions in a vacuum that are not considerate of the big picture," said Adkisson, and the big picture is that the county doesn't have the millions of dollars needed to fix problems caused by developers who cut and run...Adkisson said he's also very supportive of investigating, as is Wolff. "We need to go after somebody on this," said Wolff, "how are [the homeowners] to know who's responsible for the streets?" |
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Dangers of New Subdivision Streets |
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Latest News
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Thursday, 01 July 2010 |
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Huge pothole problems in Northeast side neighborhood
"It was like I was falling off a cliff," said Terri Lucas. Lucas accidentally drove her car through a 5-foot-wide pothole Thursday afternoon. The 7-inch deep hole damaged her car's motor and body. "I was going very slowly, driving down Heights Valley, and all of a sudden I ended up in a pothole." Neighbors in that area have complained about the unsafe, pothole-filled streets for months, without satisfactory action. |
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San Antonio Besieged by Developer and Builder Defects |
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Latest News
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Thursday, 01 July 2010 |
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Residents expected to pay $8,000 to fix potholes
The Ventura Heights subdivision has a problem with potholes. It turns out the developer never properly installed the streets or had them inspected and approved by Bexar County. Residents have complained for years about the huge potholes. The only solution given to them so far requires they pay $8000 each. Bexar County estimates it will cost more than a million dollars to bring the streets into compliance.
James Muñoz KENS 5 Reports |
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New Mexico AG & Police No Help For Homebuyers |
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Latest News
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Wednesday, 30 June 2010 |
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Homebuilders left without refunds
After a building company had to shut its doors in 2009, they assured everyone that they would pay back all the hopeful homebuilders they left without a roof over their heads. Nearly a year later, a KRQE News 13 investigation shows more than a dozen people are still without their refunds. The Kummets were not the only ones with complaints. The Kummets, as well as 12 others, filed complaints with the Attorney General's office. The complaints were similar - with one customer claiming they were left without $170,000. The Attorney General started to investigate. However, a year later, the office decided to pass on the case and not prosecute Wallen Builders. |
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Fraud, Fraud and Bold Prisoner Fraud |
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Latest News
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Friday, 25 June 2010 |
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Prisoners cashed in on homebuyer tax credit
More than 1,200 prison inmates, including 241 serving life sentences, defrauded the government of $9.1 million in tax credits reserved for first-time homebuyers, according to a Treasury Department report released Wednesday. Treasury's inspector general also found that thousands of people filed multiple claims or made claims outside the allotted time period. In all, more than $28 million was improperly doled out. |
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