Home warranties not guaranteed
What happens to repairs if builder goes bankrupt?
By Ilyce Glink, Tuesday, November 11, 2008.Q: I closed on a home in July. The builder stated that I have a one-year warranty on the home for repairs. Well, you know the story. The builder can't be reached to make repairs to my home. I haven't had the inspection I was supposed to have after living in the home for 90 days. Also, the builder was to provide a 2/10 warranty for my home, which was returned by the warranty company unprocessed. The 2/10 warranty amount to be provided by the builder is on my HUD-1 closing form.
What legal recourse do I have to get the builder to honor the warranties? I waited until I was 50 years old to buy a home, and now I don't want the house. I need help. I don't know where to turn.
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