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Beware of HOA Payment Plan! 
          
 1,425% Markup - Big Corporate Business for HOA Non-Judicial Foreclosures 
ON THE COMMONS with Shu Bartholomew – Dr. Evan McKenzie interview on Privatized HOA Governments & New Book

Billions for Home Builder Corporate Welfare from Washington 
 New York Times, by Gretchen Morgenson
 
* Read and Post Remarks in The Huffington Post 
American Banking News: Tax Breaks Worth Billions to Big Business
* Related Articles:  NY Times: Building Flawed American Dreams 
* Rise and Fall of Predatory Lending and Housing
* Builders rake in refunds * See Forbes Magazine Article
Pulte-Centex $900 MILLON Grant Questioned

MSNBC: Pulte/Centex Subdivision Walls Crumbles
Tuesday, 26 January 2010

Homes evacuated as retaining wall crumbles
San Antonio Planning Director Roderick Sanchez said Centex Homes was required to get a permit for the wall — but no permit was acquired... One neighbor who was among the first homebuyers in the subdivision set among rolling hills said Monday he was initially told no homes would be built on the crumbling ridge because it was too steep.  Romeo Peart, 32, said one retaining wall failed several years ago before the current one was built and homes were constructed above it.  "They can keep the view now," Peart said, shaking his head as heavy equipment stuffed dirt beneath an exposed foundation. "And they paid an extra $10,000 for those lots."

Homes evacuated as retaining wall crumbles
San Antonio resident said she had heard 'grumbling' over three years
Mon., Jan. 25, 2010  

SAN ANTONIO - Construction crews moved dirt to shore up a group of houses precariously perched on a crumbling hill in San Antonio on Monday as engineers tried to determine why the land below was shifting, causing the evacuation of dozens of homes.

 Gaping crevices, some 15 feet deep, cut across several yards as dirt cascaded into a towering stone retaining wall that began to give way. Crews packed dirt under one home and around its exterior after part of its foundation was exposed during the landslide.

 About 80 homes were evacuated on Sunday after a resident in the northwest side subdivision reported that his backyard was sliding down hill.

By Monday afternoon, residents in about 50 of those homes were allowed to return after inspections and soil monitoring found them to be safe, said Valerie Dolenga, a spokeswoman for Pulte Homes Inc., the parent company of the neighborhood's builder, Centex Homes.

 No one has been injured since the soil started sliding beneath the homes on Sunday. But a nearly 1,000-foot-long retaining wall was nearly split in two by the landslide that also caused fences in the upper-middle class neighborhood of sprawling two-story homes to crumple like accordions.

 San Antonio Planning Director Roderick Sanchez said Centex Homes was required to get a permit for the wall — but no permit was acquired.

He said Pulte Homes assured the city that it had a certified engineer design the wall and it was built to specifications.

 But so far, Sanchez said, the city has not seen any verification.


Crevices, some 15 feet deep, are seen across three homes at The Hills of Rivermist subdivision in San Antonio, Texas, on Monday.


Wall failed before, neighbor says
One neighbor who was among the first homebuyers in the subdivision set among rolling hills said Monday he was initially told no homes would be built on the crumbling ridge because it was too steep.

 Romeo Peart, 32, said one retaining wall failed several years ago before the current one was built and homes were constructed above it.

 "They can keep the view now," Peart said, shaking his head as heavy equipment stuffed dirt beneath an exposed foundation. "And they paid an extra $10,000 for those lots."

 Dolenga said she didn't know if the street with the now-jeopardized homes was added later to the subdivision's development plans, but developments are usually built in phases.

 

Jerry Lara / The San Antonio Express-News via AP
San Antonio Fire Department personnel survey the damage to a retaining wall on Sunday.
"We've been building out there a long time. This is an unusual circumstance," she said.

 

 The landslide appears to be the result of poor retaining wall design, said Sazzad Bin-Shafique, an assistant engineering professor and soil expert at the University of Texas-San Antonio who went out to the site on Monday.

 The near-vertical wall likely failed under the weight of the area's clay soil that readily expands when drenched with heavy precipitation as it was last week, he said. Steep, tall retaining walls can hold up if built correctly, he said.

 "It's safe, honestly. We have engineering solutions, but sometimes we do something because we want to reduce costs," Bin-Shafique said. "Many times, it will be OK, but sometimes, it will not."

 Engineers spent Monday assessing each of the structures in the evacuated area, while fire officials escorted some families to retrieve belongings from the neighborhood.

 At least seven homes would likely remain vacant for an extended period, said Fire District Chief Nim Kidd, who is also the head of the city's emergency management office.

 Homeowner below wall can't get back in
Kenny Crawford, 32, asked fire officials to be allowed to retrieve his car and some belongings on Monday, but because his home is directly below the disintegrating retaining wall, he and his girlfriend were told it was too dangerous.

 "They really haven't given us any info," Crawford said. "We don't know what's going to happen. Of course, property values are going to fall."

 Dolenga said geologists and engineers were looking for a cause of the slide and monitoring for any additional movement of the dirt that was sliding at a rate of 4-inches-an-hour on Sunday. She did not know if there was additional movement on Monday.

 Utilities were cut off in the area, and construction crews were moving dirt to shore up the homes on the hill and to protect those below the retaining wall.

 The development, which was started in 2004, has nearly 750 homes with others under construction. The neighborhood, with houses selling for $250,000, is one of dozens that have sprung up on the hilly former ranch land as San Antonio grew to be the nation's seventh largest city.

 'Grumbling' heard over time
Resident Lakeika James, 41, said she had noticed odd noises over the three years she has lived in her house.

 "I would hear, laying in my bed at night, grumbling and vibrations. A few nails popped out lately," she said.

 James said she hadn't planned on staying in the house long-term, and now after the landslide, the mother of a 5-year-old girl wants out.

 "I'm just going to be uncomfortable and worried for my family," she said.

http://www.today.msnbc.msn.com/id/35067566/ns/us_news-life/

 
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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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