We realize every one thinks their issue is most important: But when an issue that effects hundreds of thousands of Texans goes unmentioned. We feel like subjects instead of citizens.
We have over 156,876 foreclosure filings in Texas!
And these are not even accurate figures of those made homeless.
Arms interest rates are expected to reach 10+%. That is going to have a terrible effect on Texas economy and homeowners.
Renegade Builders are allowed to run amuck throwing up substandard construction. Foreclosure statistics include: homeowners who can not afford the exorbitant repairs to new homes and are trapped by arbitration clauses. They can not sue the builder.
The Attorney General has over 12,000+ complaints and has not investigated one. The FBI is the only one that notices something is amiss and has set up a mortgage fraud task force in Houston.
The Better Business Bureau threw out a couple of builders, so the rest threatened to boycott the BBB. So the BBB backed off. Where does the consumer go for help?
TRCC is a delay tactic, that does not stop bad building even if it is proven, All you get for a trip though: TRCC, RCLA and SIRP is a piece of worthless paper.
Arbitration Clauses protect the bad builders and the bad lenders. Arbitration is a contract between the builders and the arbitration company. A conflict of interests, a partnership already exists. Arbitrators salaries depend on pleasing their repeat clients, the builder. Homeowners will probably never be able to afford another house. Many of them end up in foreclosure, bankruptcy are homeless or living with family members. The costs associated with arbitration are outrageous!
WHY IS NO ONE EVEN MENTIONING THIS CRISIS? WHY AREN’T OUR REPRESENTATIVES OUTRAGED?
Jordan Fogal
Houston
We have over 156,876 foreclosure filings in Texas!
And these are not even accurate figures of those made homeless.
Jordan Fogal
Houston
