Countrywide Sues Over Mortgage Fraud
The nation's largest home lender, Countrywide Financial Corp., is suing an Indianapolis man for allegedly orchestrating a mortgage fraud scheme in which dozens of Virginia residents were tricked into buying homes in Indiana at inflated prices...Tony Pickett, an Indianapolis real-estate agent who's representing 39 of the victims, said the case involves about 400 loans that average about $200,000 each.

Homebuilder on bail until appeal
One of two Rochester homebuilders, who with their father were accused of running the largest federal mortgage fraud scheme ever prosecuted in the region, was released from prison on bail while he appeals his conviction.The Amicos were convicted in 2003 of conspiring to swindle lenders out of $60 million on 169 homes in Monroe, Ontario and Wayne counties from 1994 to 2000.

Homeowners pay thousands to fix mistakes by code official
One woman had to take a wrecking ball to $30,000 worth of construction on a two-story garage and start building from scratch.

State yanks licenses of Newark construction official
The state has revoked the professional licenses of the recently suspended head of Newark's building inspections office and has referred the investigation of his predecessor to state criminal investigators, the commissioner for the state Department of Community Affairs said.

Lawmakers to hear construction grievances
Damning results from a state report released last year about negligent and sometimes dangerous workmanship on new homes throughout New Jersey could re-emerge Tuesday night during a public hearing called by a state Senate committee.Lawmakers will hear testimony from victims of shoddy construction, who will offer suggestions on what legislative initiatives would help protect homebuyers from irresponsible builders and unresponsive overseers.

Madden to introduce four bills on curbing new housing defects
Homebuyers got to speak their minds this morning at a meeting with Sen. Fred Madden and the Senate Committee on Community and Urban Affairs, on four new bills aimed at trying to stop housing defects in newly built homes in South Jersey. At 10 a.m. Thursday morning, Sen. Madden, for the fourth legislative district that covers Glassboro, Monroe Township and Pitman, joined Sen. Ronald Rice and the Senate Committee at Rowan University to talk about something that Madden calls "a pretty significant event." The committee heard testimonies from residents on four bills that are aimed at new homeowners problems.

Public comment sought on homebuyer rights
The Senate Committee on Community and Urban Affairs will hold a public meeting Thursday at Rowan University to hear testimony on a package of bills aimed at curbing the frequency of defects occuring in newly built homes...."Homebuyers purchasing a brand new home should expect that home to be in pristine condition and without structural problems. We need to empower those buying newly built homes with a definite set of rights to ensure that they don't get stuck with a 'money pit.'"

Working out the kinks
Consumers have a new law designed to protect them from unscrupulous contractors... Eight months later, the verdict is mixed. Legislators and consumers say the law is worthwhile; complaints are down this year... State officials are pleased with the law. The Division of Consumer Affairs last year received 3,137 complaints from residents unhappy about contractors they hired to fix, tear down or expand their homes.

$763G fine imposed on Chester builder
A Chester developer who received 18 prior warnings was fined $763,500 for various violations, including failing to stop stormwater runoff from infiltrating nearby pristine streams in the development he was building in Budd Lake.

Builder charged with selling heroin at job sites
Customers would buy the drug at Howard's city construction sites in pre-packaged "bricks" for $500 each, Onofri said. A brick is the equivalent of 50 doses of the drug... Law enforcement officers searched Howard's Garfield Ave nue residence and a detached ga rage behind the house at around 5 p.m. Wednesday. Inside the garage, detectives found 24 bricks of heroin with a street value of $12,000 and $20,000 in cash in the rafters of the garage, investigators said.