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Old 05-12-2014, 08:38 PM
24 posts, read 68,506 times
Reputation: 20


Well we were served papers last week, the contractor is suing us with a bogus contract he drew up, 8 days after we closed on our renovation/home loan And he is also suing my mortgage company for not paying him our money.
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Old 07-21-2014, 10:43 AM
2 posts, read 2,896 times
Reputation: 10
“Most likely, the contractor does not fully understand the unique nature of the 203k or there is some confusion regarding the scope of work.”
This is true. That’s why it is recommended to ask help for a 203k loan specialist. I was handled by a loan officer for my Streamline K application. I was advised to get a reliable contractor that would work with us along the way.
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Old 07-21-2014, 12:23 PM
7,598 posts, read 17,618,792 times
Reputation: 8078
Wow, I would love to hear how they changed their original bid to 50% of the original work on the first estimate.

Time to get back in touch with your GC..........you need ammunition. Your attorney will get in touch with the mortgage company's attorney. Hopefully, the tables will get turned and they have to eat your attorney fees.

NOW, DO YOURSELF A FAVOR - Print out this thread, keep it filed away, pull it out only if needed. Then, cease all discussions on an internet forum about active litigation. You have nothing to gain and everything to lose. Do come back and tell us what happens - we really do want to know. Not too many cases make it to court, and when they do, we don't find out how they end up. But protecting yourself is the most important thing right now. Good luck!
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Old 07-21-2014, 12:51 PM
24 posts, read 68,506 times
Reputation: 20
Thank you that is good information.
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Old 01-20-2015, 06:32 AM
24 posts, read 68,506 times
Reputation: 20
We went through mediation and it was a joke! We relied on our attorney to fight for us and it went sour, he was not experienced in what we had hitting us in the face. we lost a ton of our renovation money in the fight, the mediator was not concerned with right or wrong, he was only concerned about how much money we were going to pay the contractor. I am taking your advice and moving forward with the complaints department with everyone involved.
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Old 01-23-2015, 05:20 PM
83 posts, read 91,854 times
Reputation: 48
Wow, thanks for the update on this. What was the contractor's reason for changing the work amount to 50%?? Was this brought up in court?
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Old 03-09-2016, 12:51 PM
24 posts, read 68,506 times
Reputation: 20
Lightbulb 203k loan fraud

As promised; I will let you know who handled our 203k loan renovation nightmare from hell, the names listed below are from the happy beginning to the very painful end.

J.C. - GoRealty (sweet person, despite us pleading with her she never came to see the work Mark Zillioux below did not do, she sided with them in the end.)

K.E. - Movement Mortgage (helped Jim Postma and Mark Zillioux get our money)

J.P. - Advanced Properties (Durham) (203k Consultant who will help Mark get what is yours)

M.Z. - Enhance Construction (Clayton) (beware check out the internet)

K.Z. - Marks wife and attorney (placed a lien on our home, threatening us for the money)

If you choose to use this group for your 203k renovation, email me for a tour of our home and then make your decision, I wished I had some prior knowledge before getting involved.


Have a great day!
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Old 03-10-2016, 08:27 AM
4,542 posts, read 11,544,610 times
Reputation: 3063
When I started in the mortgage business 13 years ago I asked the old timers in the office about 203k's. Their advice was straight forward, simple and well heeded by me...."Don't do them...EVER"

Sorry you are going through this. It sounds like a terrible situation.
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Old 04-04-2016, 10:47 PM
5,048 posts, read 6,394,701 times
Reputation: 4121
So what happened in the year in between? I hope you complained about the realtor to the local and state boards.

I hope you got some sort of result from HUD?

And your attorney was terrible. He had no excuse?

What a terrible experience.

So.... this is NC? I remember the days when Miami's inspectors could easily be paid off to let things slide. Hopefully not still the case. I love the state of NC. Seems like when there's a group with a con going it gives the whole area a bad taste because the average person is defenseless in knowing construction and loans and legal matters.
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Old 08-22-2017, 11:33 AM
3 posts, read 1,496 times
Reputation: 10
Default 203k mismanagement of funds?

I am sorry to hear you had that trouble. I am trying to get a number from FHA HUD or someone to do an immediate investigation because i see fraud and mismanagement of funds in this 203k. I don't have money for a lawyer but do know that the bank MM told me that they have to do what the 203k inspector told them to do. I had to fire one shoddy contractor and the new one has done better work but the inspector has refused to do the change order from the first draw and said he had to pay him off the original scope of work which does not include doing a change order. I have sent email on yesterday to FHA fraud/abuse and mismanagment of funds hotline but they state they never tell where they are in the investigation. This does not help me and i dont know who to talk to. the bank states they talk to FHA and that they need to get my project closed. I was told the 203k inspector was supposed to be lookin out for mine and the banks best interest but i havent seen mine and my husbands interest taken in to account the entire time. Please tell me you were able to find someone who could help with your situation
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