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- Who Will Be the Next Homebuilder to File Chapter 11?? [view article]
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Who Will Be the Next Homebuilder to File Chapter 11?? [view article]
Yes, RW Hertel & Sons, Inc. is going belly up and is getting to file Bankruptcy they have been secretly moving and concealing assets to avoid creditors, they are in default in millions of dollars of loans, offices have closed and phones and web site disconnected owners Robert JS Fowler and Ron W Hertel are under a probe for fraud and the CSLB is revoking there license for fraud and court judgments so the answer is they are finished but the Probe will continue. ReplyWho Will Be the Next Homebuilder to File Chapter 11?? [view article]
First two builders are nearly a given. MTH on the other hand is not. It's largest market is Texas, not AZ or CA. It's spec count is low, it's charges have been high, which means they have been more realistic. they just did an equity offering that was well received. allows them to avoid the banks for a while. very important in this market. A much more likely candidate is SPF. Look at the balance sheet, its Joint Ventures and read the language on its latest quarterly press relelease. very negative. ReplyWho Will Be the Next Homebuilder to File Chapter 11?? [view article]
Can't remember the name of the company here in Sacramento .. A good mid-sized local upper middle class builder. 30+ Years .. They're filing and there's another company that is also filing .. Unfortunately, don't recall the names.. Probably a mental block .. Zwillo.com just reported my neighborhood has dropped 24% this year. (I can't be in pain, I'm still smiling!) ... Ob-la-di!!!Thx jegan ;-) Reply
Who Will Be the Next Homebuilder to File Chapter 11?? [view article]
RW Hertel & Sons, Inc of Ventura, CA has been under a major Investigation for some time, the State CSLB has determined 100 % of the homes they inspected in Rancho Obispo are NOT to code and substandard. This builder has been and continues to be the subject of massive complaints, defective home building. He has more Mechanic Liens and Judgments than any other builder of his size. He has fired most all of his staff and is now moving and concealing assets in what most Lawyers have said is a move to go Bankrupt. All one has to do is a Google search on RW Hertel & Sons and you will soon learn he is a deeply dishonest and troubled builder. ReplyWho Will Be the Next Homebuilder to File Chapter 11?? [view article]
It would have been helpful if you would have listed home builders that have gone bankrupt so we have some basis of comparison.Residing in Florida I would agree with WCI, however MTH seems a bit of a stretch and goes against a lot of what I have been reading about the company. Reply
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