Foreclosures biting more homeowners
As of Oct. 3, the county had 7,339 foreclosures, which eclipses last year's total of 7,132, according to Woodlands-based Foreclosure Information & Listing Service...The reasons, according to experts, include overextended borrowers, lax lending practices and rising interest rates...The 27-year-old contractor, who was recently notified that his lender had begun foreclosure proceedings, stopped making mortgage payments in March because rising property taxes made the home unaffordable.

Homeowners could sue in timber row
More than 20,000 homeowners may be able to seek reparations from Carter Holt Harvey after it admitted selling below-grade timber. From 2000-2003 Carter Holt Harvey sold about $250 million worth of timber rated MGP10, a high-strength wood. But it was actually lower-grade.

Watch What the Fed Watches - Home Builder Bankruptcy
This week, the health of banking sector still remains a big concern as a fresh bankruptcy by a home builder deals yet another blow to local banks. Speculation has always a problem for the Federal Reserve and right now they are juggling two speculative bubbles, one in the housing market and the other in the hedge fund sector.  Both of the bubbles are beginning to let air out, but the Fed is keeping a close eye on them to ensure that the deflation of bubble goes smoothly. Home Builders Beginning to File for Bankruptcies, Straining Lenders, Worrying the Fed.

Ballot nails building codes
Voters will decide whether to use codes for residential construction in county. Commissioner Dewayne Findley referred to the building-code question as "an opportunity," and he suggested that the time has come for the county to move forward on some "minimal regulations."  "We need more responsibility and accountability on residential construction in Montezuma County," said Findley, who added that it will be elected officials who actually decide on specific building laws.

Homeowner Association News - American Homeowners Resource Center Most Americans work hard, pay their taxes, feed and shelter and care for their families, and follow the laws. They also pay politicians to pass just laws, and they pay judges to deliver justice. However, there are reports of a disturbing trend in America 's courtrooms. Homeowners are reporting that after they are terrorized in their communities by law breaking homeowner association lawyers, they are dragged into courtrooms where judges assist and collude with the lawyers to rob them of their homes or drive them into bankruptcy.

Tile roofs to be inspected
Marana officials hope that a new tile-roof inspection policy will protect future homeowners from pricey repairs after dozens of residents complained that a builder failed to install their roofs properly. Dozens of Continental Ranch residents crowded council chambers in August, demanding that the town prohibit Richmond American Homes from building in the town and asking for help in getting reimbursement for the damage.

BREAKING NEWS: Kara Homes expected to get interim financing
One of the largest home builders in Monmouth and Ocean counties, Kara Homes filed for Chapter 11 bankruptcy protection on Oct. 5. The filing has left many prospective homeowners who had contracts with Kara wondering if their homes will ever be completed or if they'll get their downpayments and deposits back.

Builder's bankruptcy raises questions in O.B.
Kara Homes, the developer of two township communities, has left creditors and clients in a quandary as to whether the builder will meet its contractual obligations. The East Brunswick-based builder with projects all over New Jersey but most notably in Monmouth and Ocean counties, filed for bankruptcy on Oct. 5.

Whose government is it?
Most of us assume certain things about how government institutions work. When the government regulates a business, it's to protect consumers. When you have a dispute that can't be settled through other means, the courts are there as an avenue to seek resolution. One of the interesting stories of the last few years is how some of this has been quietly dismantled. That's true here in Texas when it comes to buying a new home. There was an interesting, but unfortunately context-free story in the Chronicle recently about the difficulty of getting information about home builders. This is something you want if you're about to sink your life savings into your dream home. But good luck finding it:

Mold: Can It Make You Sick?
The Meniketti's of Livermore seem like a typical suburban family. Mom and dad and the boys go to their mailbox every day, but they're actually living in a nearby hotel. They say they can't go in their house -- that something inside was nearly killing them.

Consumer Affairs.com
Housing
Buying or selling a home, dealing with landlords and condo associations is enough to turn anyone into a nomad. Trying to find a good builder? It's not easy. Builders are very aggressive about suing people (and Web sites) who complain about them and they are usually well-connected with the local politicians who run the courts. The best way is to talk to others who've had homes built and see how satisfied they are. Every reputable builder should be willing to give you a list of recent customers. If not, it's a sign of trouble. See complaints

DA says mortgage scam made of 'straw'
Alaniz is one of at least 20 people who the Harris County District Attorney's Office says were victimized by a mortgage fraud scam that obtained more than $16 million in bad loans. Two Houston women were arrested Tuesday and their homes and offices were searched in connection with the scam, which involved the sale of at least 41 homes in the Houston area, said Bryan Vaclavik, an investigator with the district attorney's Major Fraud Unit.

Three On Your Side: Betting the House: Mortgage Fraud
The FBI says there is an epidemic of elaborate mortgage fraud schemes occuring across the country, even in Mississippi. A federal crackdown has resulted in numerous indictments and guilty pleas.  Sources tell us some in the real estate industry alleged targeted African-American buyers, and made easy bucks in the red hot market.

Builder faces felony charge of grand theft
A local general contractor has been arrested because he reportedly took a partial payment to do home repairs for a 58-year-old Okeechobee woman, but after a year has not started the job.