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KB Homes Infomercial - Remembering Mortgage Fraud
 Cisneros partner in Lago Vista was Bruce Karatz,
highest paid CEO in the country with $232 million compensation package. Karatz:…realize how easy it is to buy…
How broad the qualification is… It’s a life changing experience that we create.
 
View Ex-HUD Secretary HenryCisneros KB Home Infomercial

Star Telegram:Homeowners can sue KB
Thursday, 23 February 2006
Homeowners can sue KB
People who have bought a house from KB Home in the past 10 years can sue the home builder, according to a settlement reached Wednesday in a Laredo district court. "You now have a precedent set in state court whereby the binding arbitration clause can be nullified for any home since 1996," said Janet Ahmad, president of Homeowners for Better Building, a San Antonio-based consumer group. She called the settlement a "huge victory" for consumers. Ahmad said arbitration is often unfair to homeowners.
STAR-TELEGRAM
Homeowners can sue KB

By ANDREA JARES, STAFF WRITER

People who have bought a house from KB Home in the past 10 years can sue the home builder, according to a settlement reached Wednesday in a Laredo district court.

Those buyers had agreed as a condition of their purchases to go through binding arbitration if they had a dispute, according to the original suit filed in 2003. Binding arbitration is a common clause in builders' contracts.

"You now have a precedent set in state court whereby the binding arbitration clause can be nullified for any home since 1996," said Janet Ahmad, president of Homeowners for Better Building, a San Antonio-based consumer group.

She called the settlement a "huge victory" for consumers. Ahmad said arbitration is often unfair to homeowners.

An Austin attorney for KB Home did not return a phone call seeking comment Wednesday afternoon. A representative of the Houston attorney for the homeowners said both sides were unable to comment.

Under the terms of the agreement, thousands of people who have bought a KB Home since Jan. 1, 1996, will be mailed information in the next month about the settlement.

A final hearing on the settlement is set for May 16 at the 341st District Court in Webb County, according to court documents.

Texas homeowners who have problems with their builders will still have to go through the Texas Residential Construction Commission before they can proceed with a lawsuit or arbitration, according to a commission spokesman.

 
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Reckless Endangerment
BY: GRETCHEN MORGENSON
and JOSHUA ROSNER

Outsized Ambition, Greed and
Corruption Led to Economic Armageddon


Amazon
Barnes & Noble

 Feature
Rise and Fall of Predatory Lending and Housing

NY Times: Building Flawed American Dreams 
Read CATO Institute: 
HUD Scandals

Listen to NPR:
Reckless Endangerman
by
Gretchen Morgenson : How 'Reckless' Greed Contributed
to Financial Crisis - Fannie Mae

NPR Special Report
Part I Listen Now
Perry Home - No Warranty 
Part II Listen Now
Texas Favors Builders

Consumer Affairs Builder Complaints

IS YOUR STATE NEXT?
As Goes Texas So Goes the Nation
Knowledge and Financial Responsibility are still Optional for Texas Home Builders

 KB Home Federal Housing Scam
 KB Homes are falling down

OUTSTANDING FOX4 REPORT
TRCC from Bad to Worse
Case of the Crooked House

Washington Post
The housing bubble, in four chapters
BusinessWeek Special Reports
Bonfire of the Builders
Homebuilders helped fuel the housing crisis
Housing: That Sinking Feeling

TRCC AN ARRESTING EXPERIENCE
The Pat and Bob Egert Building & TRCC Experience 

Build it right the first time
An interview with Janet Ahmad

HUD's Broken System
From HUD's Deregulation to Disgrace
Did HUD Secretary Cisneros
 Mastermind Predatory Lending?

KB Home Bombs
KB Goes Unpunished for Building Community on Bombs
Taxpayers Pay $2.6 Million
KB Attempts to Bribe Woman

KB HOME FEATURES
Legislators, HUD & FTC
Respond to complaints
HUD Fines KB Home$3.2M
FTC Fines KB Home $2M


ABC 20/20 - KB Home built on bombs
KB to build on Worst Nnuclear Meltdown Site
Why KB Profits are Greater
Special Reports - Read More...
See KB Homeowners Protest and Get Results
 WFAA's Bryan Harris Investigates KB Home & Bombs

Bad Binding Arbitration Experience?
conttribute@hobb.org
 or call 1-210-402-6800

  ABC's 20/20 Special
KB Home Builds on Bombs
(10/7/2005 No Transcript available)
See related articles:
· WFAA News 8 Investigates KB 
   Home & Bombs

· $1.9M for KB Bombing 
  Range Taxpayer Cleanup

· 
KB gives new meaning to
  “Home, home on the range”

· Home on the Bombing Range 
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· News4:: Reports Charges Dropped

Tort Reform Feature
Texas Monthly
 Hurt? Injured? Need a Lawyer? Too Bad!

KB Homeowners Speak
KB Home Common Defects
KB Buys Back Homes 

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