Homebuilder-Bankruptcy.com

Rhodes Homes, one of the leading builders in Nevada which went into bankruptcy earlier in March this year, has requested the court to extend its exclusivity period on June 19, 2009. In Chapter 11 bankruptcies, companies are given an exclusivity period where they have the exclusive right to file and solicit votes for a reorganization [...]

At an early stage in bankruptcy proceedings, Rhodes Homes, a leading builder in Nevada, had requested to continue customer care and incentive programs. With lenders mainly agreeing to this strategy which will facilitate continued sales, Rhodes Homes obtained court approval on April 17, 2009.
What are these customer care and incentive programs? One of the most [...]

Dunmore Homes revealed in its Disclosure Statement that it had significant contingent liabilities, including homeowner warranty obligations. Some of these warranties were insured by Premier Indemnity Co, but homeowners would claim directly against the home builder. There were about 150 homes covered by this kind of warranties. Note, however, that Dunmore Homes owed approximately $700,000 [...]