Thursday, January 26, 2017

Maryland AG Orders State Guarantee Fund To Reimburse $195K+ To Customers Of Now-Defunct Homebuilder That Failed To Complete Work On Their Houses Or Return Deposits

In Frederick, Maryland, The Frederick News-Post reports:
  • Several homeowners will be reimbursed for work that Nexus EnergyHomes left unfinished on their houses.

    The Consumer Protection Division Office of the Maryland Attorney General’s Office ordered the homeowners be paid out of the Home Builder Guaranty Fund(1) after finding that Nexus EnergyHomes failed to complete work on their houses or return their deposits, according to a decision filed Dec. 30.

    Among the 13 claims the office ruled on were seven from Frederick County residents, which totaled nearly $196,700.

    Nexus EnergyHomes signed on in 2010 to work on the North Pointe project, a collection of energy-efficient homes along Bentz and Sixth streets.

    Construction came to a halt in 2013, when the Maryland Attorney General’s Office accused Nexus of intentionally deceiving the state, homebuyers and contractors and of misappropriating money that buyers used to pay for energy-efficient houses.

    A new company, Lancaster Craftsmen Builders, took over and is working on the development. In October 2016, Mark Lancaster, the president and owner of Lancaster Craftsmen Builders, estimated that the project would be done by the end of 2017.

    Nexus EnergyHomes’ homebuilder registration is suspended until it pays back the Maryland Home Builder Guaranty Fund, which includes 10 percent annual interest. The business has since closed.
For more, see Homebuyers reimbursed for unfinished work on Nexus homes in Frederick.
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(1) The State of Maryland has established a Home Builder Guaranty Fund that is overseen by the Consumer Protection Division of the state attorney general's office. This fund allows consumers to seek compensation for losses resulting from an act or omission by a registered builder who constructs a new home for a consumer.

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