Bankruptcy court has bad news for people owed money by Parade of Homes builder

Bankruptcy court has bad news for people owed money by Parade of Homes builder (DBN) These risk-taking mortgage lenders could trigger the next housing crisis (DBN) Housing’s hidden crisis: Rural Americans struggle to pay rent (DBN) More Americans are moving to these affordable inland markets (dbn) _____ Municipalities:

Pending or Executory Contracts. In the Chapter 7 liquidation context, it is highly unlikely that a bankruptcy trustee will assume a construction contract. Chances are that the debtor has already defaulted on the contract pre-bankruptcy, and the other party to the contract has setoff rights against the amounts owed to the bankruptcy estate.

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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.

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Declaring Bankruptcy on a Manufactured Home Mortgage Decide Between Chapter 13 and 7. filing chapter 13 allows you to stop a foreclosure or repossession and make modified debt payments, based on your ability to pay, through a trustee.. Related Articles. Are There FHA Loans for Manufactured Homes in a Park?

Innovative Building Systems Files for Bankruptcy Keiser Homes in Oxford, Maine has closed, displacing more than 100 workers and leaving a measurable hole in the area’s workforce. According to the Maine Department of Labor, Innovative Building Systems, whose excel homes division purchased keiser Homes in 2013, has closed the Oxford-based modular.

The court handling a bankrupt Kennewick home builder’s liquidation has bad news for the unsecured creditors owed nearly $7.4 million.

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That would put quite a few people in a bind. The company is stressing that warranties on homes that close after the filing will not be affected, but that’s only if the company survives. Mercedes is based in Melbourne and filed for Chapter 11 Bankrupcy protection in West Palm Beach at the US District Bankruptcy Court.