Homeowner Paying Cash For New Home Faces Threat Of Foreclosure As Builder Accused Of Stiffing Contractors

In Phoenix, Arizona, KPHO-TV Channel 5 reports:

• Some Valley homeowners are facing foreclosure even though they've paid their mortgages in full, thanks to a lien placed on the property by a contractor. Retired homeowner Danny Riggs paid cash for his home, but builder Brown Family Communities failed to pay the contractors who installed the windows, plumbing, drywall and air conditioning as well as the construction crew, he said. Contractors hit Riggs with a mechanic's lien, which gives a homeowner six months to settle a debt -- even if the homeowner was not the one who hired the contractor. Otherwise, the home goes into foreclosure.

For more, see Liens Send Homes To Foreclosure.

For more on homeowners left in the lurch due to actions by builders/contractors, go here, go here, go here, go here, and go here. StiffingContractorsTheta