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Old 11-01-2007, 12:03 PM
 
Location: Chicago's burbs
1,016 posts, read 4,541,816 times
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Neumann Homes has FINALLY officially filed for bankruptcy today, 10 days after they announced they would file.
Warrenville-based Neumann Homes files for Chapter 11 -- chicagotribune.com
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Old 11-10-2007, 08:53 AM
 
356 posts, read 542,383 times
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here's the story in the Daily Herald

Daily Herald | Neumann Homes to file bankruptcy
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Old 12-09-2007, 09:04 PM
 
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I just read an article about Neumann today, I apologize if this has been mentioned already. According to the article subcontractors have 90 days to file mechanics liens and general contractors have 4 months to file liens. It is estimated that Neumann owes about 11.9 million to contractors who are working on new construction and 6.3 million on homes that are already sold. The article says that current owners could be put in a tenuous position. How are all your Neumann owners doing out there? Have you gotten your deposits back? Are you finding out any new information?

Last edited by irish setter girl; 12-09-2007 at 09:05 PM.. Reason: grammar
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Old 12-10-2007, 08:15 AM
 
Location: Chicago's burbs
1,016 posts, read 4,541,816 times
Reputation: 920
Quote:
Originally Posted by irish setter girl View Post
I just read an article about Neumann today, I apologize if this has been mentioned already. According to the article subcontractors have 90 days to file mechanics liens and general contractors have 4 months to file liens. It is estimated that Neumann owes about 11.9 million to contractors who are working on new construction and 6.3 million on homes that are already sold. The article says that current owners could be put in a tenuous position. How are all your Neumann owners doing out there? Have you gotten your deposits back? Are you finding out any new information?
Thanks for your concern. Here is a link to the court documents about the bankruptcy if anyone needs info:
Client Home
As far as I've heard, no money has been returned as of yet. I live in a Neumann community and no work has been done on the homes under construction since it was announced they would file. Hopefully the judge will come to a ruling soon on what to do with those unfinished homes soon because I can't imagine its good for them to be sitting there half built now that winter has arrived and there is snow on the ground. I'm still getting liens on my home. I have one from the company that poured my driveway, one from the company that installed my carpet and ceramic tile, and I'm expecting another from a construction company as I got an intent to file in the mail from one. Supposedly title insurance is covering them, but it is still very frustrating.
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Old 12-10-2007, 08:53 PM
 
610 posts, read 2,728,929 times
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SBD78, sorry to hear about the liens on your home. Another article I was reading interview a man from Antioch I believe who said his biggest concern is the wildlife taking refuge in the vacant/partially built homes next to him. He said he hears owls at night coming from the rafters and has seen raccoon, coyote and other critters making their way in/out of the homes. I certainly hope your title insurance is covering the debts, I bet they never thought this would happen on such a large scale. I am curious to know if anyone used Neumann's "we'll buy your home if you buy ours" deal he had running at one time. I also saw if you financed with their lender they would pay the first 6 months mortgage. I wonder what, if any, situations have come from that. Best of luck to all of you!
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Old 12-14-2007, 02:43 PM
 
Location: Chicago
38,707 posts, read 103,160,449 times
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Neumann to return deposits, finish some homes
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Old 07-03-2009, 08:37 PM
 
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I was wondering if anyone has any more information about the neumann homes subdivision neustoneshire in Joliet,Il or Neumann homes in general??? I am interested in a home there. Does anyone know if construction has continued, or if another builder is taking over that subdivision, there are two empty lots on either side of the home I am interested in, and its been almost 2 years since they bankrupt. I have also heard that neumann homes "throws there houses together" and they are built cheap. Any comments on this? Any info on this subdivision or neumann home quality would be great to hear. Thanks
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