Abandoned Construction Project Leaves Buyers With Partial Homes, Full Payments; Law Enforcement Probes Into Possible Criminal Activity

In Winter Park, Colorado, Sky Hi Daily News reports:

• Three townhome buildings in Winter Park Ranch are the subject of another abandoned construction project associated with American Dreams Seminars, or ADS Builders Inc. of Broomfield. Four of six units in The Hills at Winter Park Ranch are in foreclosure, with the remaining two teetering, according to county records. One owner, Alice Antolin of Northern California, said she owes New Frontier Bank in Greeley $425,000 with interest for one side of a townhome duplex that was never completed.

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• Construction on the project since has been rescued by a contractor hired by the bank, which intends to finish the project. But home buyers are stuck. “Our good standing credit is ruined,” Antolin said.

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• The Sheriff’s office is looking into possible criminal activity that occurred in-state regarding the sales of lots and incomplete construction of homes abandoned by ADS in Rocky Mountain Estates, leaving many investors with loan payments on homes that are far from complete.

For more, see Winter Park — Buyers left with partial homes, full payments.

For other posts on builders/contractors allegedly stiffing their customers, go here, go here, and go here. contractors stiff subs customers yelbow