Homebuilder-Bankruptcy.com

Village Homes’ exclusivity period for filing the Chapter 11 plan was due to expire on March 6, 2009. The exclusivity period is one where the bankrupt company has the exclusive right to file the plan (as opposed to a situation where creditors can come up with competing plans). The bankrupt builder filed a motion to [...]

Levitt & Sons, a homebuilder which filed for bankruptcy in Nov’07, has finally obtained court approval of its Chapter 11 plan. The unsecured creditors are projected to recover between 2.75-13.7%. On the other hand, creditors with claims on deposits are projected to recover between 2.75-23.2%. It is pretty low recovery and cold comfort for deposit [...]

When a home builder goes bankrupt, home buyers are confronted by a serious question – what will happen to the deposits which they have put down?
*For up-to-date information, download property descriptions & valuations in Quarterly Reports on Properties from Distressed Home Builders
#1     One of the most important questions is whether the deposit has been placed in an [...]