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Binding Arbitration Bill Filed
SEN. FEINGOLD, REP. JOHNSON INTRODUCE MEASURE TO PRESERVE CONSUMER JUSTICE

Arbitration Fairness Act 2007
See more on: Binding Arbitration plus, Latest News

Legislative Watch
 ACTION ALERT

  Let the Sun Set on the Texas Residential Construction Commission!!
Sunset Public Hearing September 23-24, 2008

See Texas Watch:Texans Abused by Builders, Abandoned by the TRCC
**********

Bill to Watch -
Washington State Homebuyers' Bill of Rights Legislation

Beazer Homes Investigative Series Wins Prestigous Award
Wednesday, 02 July 2008

Charlotte Observer foreclosure series awarded Loeb
“Sold A Nightmare” wins a top business journalism honor.The series, which ran throughout 2007, detailed the sales practices that contributed to housing foreclosures in the area and led to federal investigations of Beazer Homes USA, one of the nation's largest homebuilders. “Sold A Nightmare” has earned numerous accolades, including from the Pulitzer Prize board, which named the series a finalist for the 2008 Gold Medal For Public Service. It has also received the George Polk Award for Economics Reporting and honors from the N.C. Press Association, the Society of American Business Editors and Writers and the National Association of Real Estate Writers.

Read more...
 
Why Buy a New House?
Wednesday, 02 July 2008

Craig's New House

Typical unfinished home; leaks caused by unfinished and loose plumbing, unsecured tube and plumbing not installed properly, dents, unfinished drywall and paint. You Tube Video...

 
You Tube Builder Mortgage Fraud Part II
Wednesday, 02 July 2008

Builder Mortgage Fraud "The Making of Modren Day Ghost Towns"Top ten builders participated in mortgage fraud to sell homes.  Inflating appraisals and paying off packages: new car, paid credit cards, furnishings, and swimming pool. A Realtors got big bonuses and trip to Hawaii . Addendums were destroyed for hidden incentives.
See You Tube...

 
You Tube Builder Mortgage Fraud Part I
Wednesday, 02 July 2008

Builder Mortage Companies Creative Mortgage Fraud Part 1
Las Vegas Real Estate - Buildr Incentives...Fluf or Fraud: New homebuilders participated in massive mortgage fraud to sell new homes.  Insider Dana Ellis talks about builder fraud.  Builder paid off debt, credit cards and new cars for the buyer. See Part I You Tube Video more...  See more related videos... 

 
Senator Russ Feingold - Americans Strong-armed into Binding Arbitration
Saturday, 28 June 2008

FROM THE HILL: It’s so important to protect our right to a day in court
When students learn about our system of justice in civics class, they’re told that every American has a right to his or her day in court. Yet, people from all walks of life often unknowingly sign away their right to a trial when they sign a contract...Sometimes consumers only find out they’ve given up their right to trial when a big company forces them to take a dispute to a private arbitration company instead of going through the court system. Arbitration has some serious downsides for consumers, including high administrative fees. It also lacks discovery proceedings and other due process protections, and meaningful judicial review of arbitrators’ decisions...Arbitration should be a choice, not a mandate...
Across every sector of our economy, Americans are being strong-armed into this consumer-unfriendly system.

Read more...
 
NAHB Hires Powerful Lobbyist for Taxpayer Handouts
Saturday, 28 June 2008

Home Builders Hire Some Jumbo Lobbying Help
The National Association of Home Builders is bringing out the big guns for its lobbying battle on the housing bill. The association has hired former Republican Rep. Michael Oxley of Ohio and his lobbying firm, Baker and Hostetler, according to recently filed lobbying reports. It also has contracted with two other lobbying firms over the past month. In signing on with three new firms, the association doubled its roster of outside lobbying representatives to six. The association also has a stable of in-house lobbyists representing its agenda on Capitol Hill.

Read more...
 
Lennar in Big Trouble - Stock Down to $13.34
Saturday, 28 June 2008

Homebuilders Get Demolished
If you think that homebuilding stocks are bottoming out, you may be overly optimistic: Florida-based homebuilder Lennar's second-quarter results are a good indicator that the industry still has a ways to go before turning around. In this quarter, which ended on May 31st, Lennar lost $120.9 million, or 76 cents per share. While this represents an “improvement” over the $244.2 million or $1.55 a share it lost during the comparable period last year, it’s still substantially more than the 59-cent per-share loss analysts had been expecting.

Read more...
 
Latest to Abandon Ship in the Mirasol KB Home Fiasco
Friday, 27 June 2008

Mirasol's project manager quits
The project manager overseeing repairs at the San Antonio Housing Authority's troubled Mirasol Homes development abruptly resigned Thursday, leaving behind more questions than answers. In his letter of resignation, Bart Swider gave no reason for quitting but acknowledged that he'd received a subpoena for information related to an ongoing lawsuit between SAHA and Mirasol's builder, KB Home, over allegations of shoddy construction at the West Side subdivision. Swider's work was routinely questioned by Mirasol critics, including some task force members. He was criticized for the number of repairs that hadn't been completed and for decisions on how to make repairs.

Read more...
 
Tom Hanks stuck with Defective House
Thursday, 26 June 2008

Tom Hanks loses $2 million battle over Sun Valley home
Superstar Tom Hanks may not be accustomed to being told "no," but that's exactly what a Blaine County judge told him and his actress wife, Rita Wilson. The Hollywood couple's been fighting with a local contractor over construction of their Ketchum home and guest cottages in 2002. Hanks claims the work was defective, but four years ago a judge ruled against him and ordered that the builder be paid $2 million.

Read more...
 
Hutto Lennar Homes: Some homes reeling on expansive soil
Thursday, 26 June 2008

Shaky ground
Some say homeownership is at the heart of the American Dream — a symbol of family, success and security. For most people, buying a home is the biggest investment they’ll ever make. Getting what they pay for is a value probably as important to Americans as homeownership. Unfortunately for dozens of homeowners in Hutto, expansive soil and questionable building practices have combined to create a perfect storm of discontented residents asking construction companies to right shaky foundations...Janet Ahmad, president of Homeowners for Better Building, a San Antonio-based organization devoted to defending homeowners’ rights, said homebuilders Lennar and Centex did not sufficiently inform homebuyers of the possible problems.

Read more...
 
African Americans & Latino's Targeted in Mortgage Scam
Sunday, 22 June 2008

The arrests took place over the past three months in about a dozen cities.
Over the past couple of months, federal agents have nailed hundreds of real estate wheeler-dealers, charging them with fraud in a crisis that has crippled the mortgage industry and left thousands of homeowners, particularly African Americans, cribless. Even as the FBI was announcing the arrests of some 400 alleged financial criminals – including housing developers, mortgage lenders and brokers, lawyers, real estate agents and appraisers – Washington Mutual, the nation’s largest savings and loan association, was firing 1,200 people across the country. Many of WaMu’s layoffs will be in its home loan business, Forbes.com reports, as the Seattle-based bank dissolves its riskier loans, such as sub-prime mortgages. The arrests, 60 of which occurred on Wednesday alone in a dozen or so cities, including Chicago, Houston and Miami , were part of a crackdown against fraud that has cost homeowners about $1 billion. “Mortgage fraud poses a significant threat to our economy, to the stability of our nation’s housing markets and to the peace of mind of millions of American homeowners,” Deputy Attorney General Mark Filip said at a news conference. The sting, known as “Operation Malicious Mortgage” has netted 406 people since it kicked off on March 1, he said. While there is a rainbow of Americans crushed under the weight of predatory lenders and their unscrupulous cohorts, nobody has felt the pressure more than African Americans. Studies have shown that Blacks are more likely to be targeted for high-risk loans than less credit-worthy Whites. These sub-prime mortgages, with interest payments that often balloon after reeling in borrowers with relatively low introductory rates, have triggered a cascade of foreclosures, particularly in Black and Latino communities.

 
FBI indicted more than 400 including housing developers
Sunday, 22 June 2008

Hundreds swept up in mortgage fraud arrests
More than 400 real estate industry players have been indicted since March - including dozens over the last two days - in a Justice Department crackdown on incidents of mortgage fraud nationwide that stem from the country's housing crisis... Law enforcement officials said their stepped-up focus on mortgage cases aims to combat problems that have grown out of the risky lending practices prevalent until the mortgage market collapse started last year. Officials have identified 10 "mortgage fraud hotspots" nationwide in California, Colorado, Texas, Minnesota, Michigan, Illinois, Ohio, New York, Georgia and Florida...Those named in the cases include housing developers, mortgage lenders and brokers, lawyers, real estate agents and appraisers, said Sharon Ormsby, section chief in charge of financial crimes for the FBI.

Read more...
 
The Patriot Post - Countrywide and Politicians on the Hot Seat
Saturday, 21 June 2008

News from the Swamp: Countrywide scandal
Both senators received their juicy home loans from Countrywide honcho Angelo Mozilo, as did Jim Johnson, a top Demo operative who was slated to handle Barack Obama’s vice-presidential search committee until his relationship with Mozilo became public. Other friends of the toxic Mozilo include Alphonso Jackson, the former HUD secretary who resigned in April, and Donna Shalala, former HHS secretary under Bill Clinton. Dmocrats had been hoping to plow a mortgage bailout through Congress before this whole mess gets exposed, but President George W. Bush has threatened a veto because of the overly generous terms for Countrywide and similar lenders.

Read more...
 
Tremont Mortgage Scam Indictment
Friday, 20 June 2008

Mortgage fraud scheme lands 6 in jail
On Wednesday, US Marshals and attorneys lead suspects in through the back of the federal courthouse to face a ten count indictment for a mortgage fraud scheme that began in 2004.  It is alleged that six people committed $25 million in mortgage fraud across Houston and its suburbs. They would then get a phony appraisal that would almost double the home’s actual value. In that case, $400,000.

Read more...
 
Lennar Homes Roofing Problems continue to plegue Homeowners
Friday, 20 June 2008

N. Texas shingle problems turn to blame game
Shingle manufacturer CertainTeed has been working with Lennar Homes to replace or reseal shingles at no cost to homeowners. Also, CertainTeed extended their five-year wind warranty to ten years. But when April's powerful storms wreaked havoc on North Texas, that warranty suddenly ended. Homeowners in The Colony are caught in the middle of a storm between their builder, a shingle manufacturer and their insurance companies. They said no one wants to take responsibility for the damage to their roofs.

Read more...
 
The Current: A Candid Interview on Mirasol with National LULAC President
Wednesday, 18 June 2008

Rosa Rosales on Mirasol & HUD
League of United Latin American Citizens passed a resolution calling for an investigation by the appropriate federal agencies into the “disturbing trend in substandard new home construction” in the affordable-housing market. LULAC also called for subcommittee hearings in Congress on the deregulation of HUD and its lack of oversight for the past decade...We very much endorsed that. As we have seen through the years it’s become a nightmare. People thought they were buying their dream you might say, their home for the first time, and then everything starts falling apart. Then aside from that, not only is it falling apart, it’s affecting their health and that of their children. Start from step one when [Mirasol] first started and then, aside from that, you’ve got to compensate them for all the problems that they caused because the homes were not built correctly. Without hurting anyone’s feelings, if the task force has been in existence for a year and indeed the problems still exist, and we don’t have a plan of action, with all due respect then we would have to look to something other than this task force.  See LULAC Resolution

Read more...
 
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Take Action
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TRCC AN ARRESTING EXPERIENCE
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ARIZONA REGISTRAR OF CONTRACTORS
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