THP Morning Call Article - Back to Building

[administrator]

A lot can change in one day.

I was "ecstatic" as disclosed in an earlier thread, however, I am now concerned in the light of the findings in the other thread concerning the hearings.

TH Properties is back to building -- themorningcall.com

[crashtc]

I find this line particularly interesting.... "proceeds from the projects to pay money it owes the two lenders and plans to market and sell some of its remaining unfinished properties".
I'd like to know what those unfinished properties are. Are they the unsold ones in these developments or are they from other developments?

[administrator]

looks like we all posted this at the same time.

i collapsed it into this thread since this one had replies.

[administrator]

Originally Posted by crashtc

I find this line particularly interesting.... "proceeds from the projects to pay money it owes the two lenders and plans to market and sell some of its remaining unfinished properties".
I'd like to know what those unfinished properties are. Are they the unsold ones in these developments or are they from other developments?

I think the intent was to finish out homes that were furthest along - quickest possibility for a return.

Makes the most sense at least....

Again, with what transpired yesterday in the courts.. It's anyone's guess I suppose at this point.

[B_robert]

I too have to wonder what the fall out will be from all of this. I'm seething that they claim ignorance regarding the fact that my deposit should have been escrowed, when in fact they knew better. But the reality is, during the boom times, it was a non-issue because they could make good on their promises. Yet, the point of the law was to protect consumers when the good times went bad....and they have. Moreover, I'm not sure what the penalty is for violations. I doubt its criminal and assessing a civil penalty against a company that has nothing anyhow seems irrelevant.

Sorry for rambling. I'm just really going back and forth here.

[administrator]

Originally Posted by B_robert

I too have to wonder what the fall out will be from all of this. I'm seething that they claim ignorance regarding the fact that my deposit should have been escrowed, when in fact they knew better. But the reality is, during the boom times, it was a non-issue because they could make good on their promises. Yet, the point of the law was to protect consumers when the good times went bad....and they have. Moreover, I'm not sure what the penalty is for violations. I doubt its criminal and assessing a civil penalty against a company that has nothing anyhow seems irrelevant.

Sorry for rambling. I'm just really going back and forth here.

Realty Lawyer in his post did allude to the fact that while this may be inconceivable, it may not be criminal.

I suppose that is for the judge to decide.

[B_robert]

You know, I'm just pissed because I'm backed into a corner now with this whole thing. The likelihood of me ever seeing my deposit is nil, the house I was promised either won't be finished until some time next year, if ever, and when it does get finished, it'll be a mold haven with substandard plywood.

[administrator]

Originally Posted by B_robert

You know, I'm just pissed because I'm backed into a corner now with this whole thing. The likelihood of me ever seeing my deposit is nil, the house I was promised either won't be finished until some time next year, if ever, and when it does get finished, it'll be a mold haven with substandard plywood.

Understood.

You know I understand. 110%.

[B_robert]

Well fortunately there's people out there still that can wave the RAH RAH flag for THP since that'll be there only hope at this point. At least they'll get the handshakes and the "see, we told you we can make good on our promises" speech. Us thorns in the side won't be so lucky.

[administrator]

What else interested me about this article is that there are 16 employees on the payroll today?