Kimball Hill Homes goes of Business. Who thinks I'm outta luck - Chicagoland Sportbikes
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post #1 of 10 (permalink) Old 04-24-2008, 05:38 PM Thread Starter
 
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Kimball Hill Homes goes of Business. Who thinks I'm outta luck

So my builder just filed for Chapter 11. They say it is just a reorg and they have 60 million in cash and aren't going to stop building houses, but I'm freaking out.

http://www.kimballhillhomes.com/Reor...spx?PageID=107
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post #2 of 10 (permalink) Old 04-24-2008, 05:49 PM
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This is something i worry about too....i just bought a new construction townhouse last year...

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post #3 of 10 (permalink) Old 04-24-2008, 05:57 PM
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This is something i worry about too....i just bought a new construction townhouse last year...
From who?
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post #4 of 10 (permalink) Old 04-24-2008, 07:26 PM
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nuemann homes now kimball ....what the heck?!?!
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post #5 of 10 (permalink) Old 04-24-2008, 07:41 PM
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My friend has a Neumann home that he bought 2 years ago, now after a divorce he is trying to get his name off the loan by refinancing, it appraised 25K less than expected because Neumann went under (appraiser said that was the reason, not the current economy). Good luck.

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post #6 of 10 (permalink) Old 04-24-2008, 08:04 PM
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Originally Posted by FullThrottleZX View Post
So my builder just filed for Chapter 11. They say it is just a reorg and they have 60 million in cash and aren't going to stop building houses, but I'm freaking out.

http://www.kimballhillhomes.com/Reor...spx?PageID=107
fuckin pansies. shirking fiscal responsibilities with $60M in cash?? hope they don't screw you out of warranty owed...
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post #7 of 10 (permalink) Old 04-24-2008, 08:12 PM
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From who?
From Lennar...I'm at Trafalgar Woods...

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post #8 of 10 (permalink) Old 04-24-2008, 08:15 PM
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fuckin pansies. shirking fiscal responsibilities with $60M in cash?? hope they don't screw you out of warranty owed...
They'll f*ck the stockholders and the employees and someone will buy them very cheap for pennies on the dollar.

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post #9 of 10 (permalink) Old 04-24-2008, 08:43 PM
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these idiot builders keep getting over thier heads and building out too fast and too much. and the damn cities keep letting them do it.




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post #10 of 10 (permalink) Old 04-24-2008, 08:53 PM
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Quote:
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My friend has a Neumann home that he bought 2 years ago, now after a divorce he is trying to get his name off the loan by refinancing, it appraised 25K less than expected because Neumann went under (appraiser said that was the reason, not the current economy). Good luck.
This probably has little to do with Neumann going out of business. This has been very common as of late with all homes. My friend closed on a Neumann home right before they went BK. They did not even Sod his lawn as was in the contract. He also got tons of bills from subs and contractors.

I would not worry about this too much. The builder warranty only covered the 1st year. The major structural warranty is covered by the state.
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