Kennedy Homes sues bank

[Below Ground]

Talked to Kennedy Monday. They said that their bank is checking documents, but have not made any financial promises to Kennedy. So our house sits near completion, and we wait.

[Jay]

Below Ground wrote:

Talked to Kennedy Monday. They said that their bank is checking documents, but have not made any financial promises to Kennedy. So our house sits near completion, and we wait.

BG,
I am sorry for your inconvenience. Sorry because I know how excited you must have been knowing your final walk through date was right around the corner and then the work stops.

I've been doing some work on my home the last few days and always look out the direction of your home in hopes that I might see someone completing your home.

Hell! Since they lost the other houses, they should have shifted paperwork and just given you one of the model homes.

I am truly sorry my friend.

BTW, I'll keep a lookout when I'm in the area for your home. I noticed a window is broken on one of the near completed homes located between Richard and Thomas just north of Campbell. I passed by aearly in the morning and saw the door opened. I thought someone might be working inside. Later, in the afternoon, I see one of the second floor (in front) windows broken.

Jay

[Below Ground]

I noticed the broken window also its a shame that it happened my wife or I usually drive by the house every day If I see you at the house I will have to stop and introduce myself, we asked aboout the models they said they wouldnt because we were so close to completion I want a basement any way. Good luck moving I hope the weather is good.

[Below Ground]

If the person building on Lansett (in Richard's Crossing)has been reading posts, you should know that your house has been damaged. The front door was busted in and two windows were broken. I talked with Kennedy today and Dianna was going to pass it along to Mike Ladd. There was also no change in Kennedy's "financial situation".

[Jay]

Below Ground wrote:

If the person building on Lansett (in Richard's Crossing)has been reading posts, you should know that your house has been damaged. The front door was busted in and two windows were broken. I talked with Kennedy today and Dianna was going to pass it along to Mike Ladd. There was also no change in Kennedy's "financial situation".

It's hard to believe that even with the sale of two homes (mine and the model home) which Kennedy racked in about half a million, that it didn't better their situation. I just checked my bank and noticed that my earnest money was deposited into their payroll account. I guess while all of you have to continue playing the waiting game, Kennedy will continue to increase the partners personal wealth. I sure wish they would do something for all of you who have been waiting patiently . I'd like to see the homes completed as some are becoming a real eyesore.

Below Ground...
Just wanted to say that it was a pleasure meeting you theother day. Please keep in touch.

Jay

[Jim]

$500,000 is a drop in the bucket when you are $13 million in debt Jay.

I have unfinished homes in my Kennedy sub division. It sucks to look at them everyday. But there is nothing we can do. We'll just have to ride this storm out and be patient.

[Jim]

We were due for a down turn like this. Homes were overpriced. People were getting mortgages they could not afford. The market is just correcting itself.

We'll come out this stronger. The market will rebound with tighter mortgage regulations to help prevent another down turn like this.

Just do your research and you'll see that the housing market goes bad every 15-20 years. And every time it comes back stronger than before.

Have faith.

[john]

Well out here in Elburn their is a house that was built five months ago, and everyday for the past week an half their's a crew working on this house...and it's a Kenndy home.

[Bugged Kennedy Homeowner]

I live in a Kennedy Home in Waterman. The subdivision seems to now have been abandoned by Kennedy. The sales office is empty. The models are all for sale. Half built homes are not being worked on and are an eyesore. The dumpsters have been removed from each half-built site and garbage piled up at the curbs. I feel bad for those families waiting.
As for myself, I'd rather NOT have Kennedy come in and fix any issues as with the issues we've had have been pretty extensive and messy, but eventually resolved. But what happens to our homeowners association fees. Isn't the HOA supposed to go to the homeowners when the neighborhood is complete?? Who knows if that will ever happen. Also, there's supposed to be a park/playground. That's not even been started. Kennedy's website is gone. Who to contact....What a mess!!!

[Kennedy Street]

Bugged Kennedy Homeowner wrote:

I live in a Kennedy Home in Waterman. The subdivision seems to now have been abandoned by Kennedy. The sales office is empty. The models are all for sale. Half built homes are not being worked on and are an eyesore. The dumpsters have been removed from each half-built site and garbage piled up at the curbs. I feel bad for those families waiting.
As for myself, I'd rather NOT have Kennedy come in and fix any issues as with the issues we've had have been pretty extensive and messy, but eventually resolved. But what happens to our homeowners association fees. Isn't the HOA supposed to go to the homeowners when the neighborhood is complete?? Who knows if that will ever happen. Also, there's supposed to be a park/playground. That's not even been started. Kennedy's website is gone. Who to contact....What a mess!!!

I also live in the Waterman subdivision. Let's face it Kennedy is not going to do anything right now for us. We should all get together one weekend and clean the trash up ourselves.
If any of you are willing, we can get it done fast.

[Aunt Bea]

My daughter just sued me. Seems I gave her too much credit while she was in high school. Now she's in college and can't afford to eat because she buys beer all the time. She's suing me for punitive damages for making her an alcoholic too.

[Ruth F]

I am coming back everyone. I'm going to fix so many issues get so much done. I am a true leader with so many great abilities. Just hold on I'm going to get things turned back around for the partners. They need me now and the know I'm the chozen one the great home builder. I love flirting wih the subcontractors and talking behind everyones back about there performance. Anything to make me look good.

[John]

Ruth F,
WOW! YOUR CRAZY!!

[Money]

Bill Kennedy is doing what he needs to to protect his personal finances and to stopy giving more money to the bank. The company's stupid mistake will costs many people's jobs and many people's home dreams. How could KH not know they were over borrowing more than they were worth?? That's like if wanted to take out a Home equity loan on your $200k house and the bank tells you that you qualify for $2 million. You would know something was wrong, you wouldn't draw on it. But they did and they have business and accouting professionals in their organization. And now it's the banks fault??? That's just a tactic so Bill Kennedy doesn't have to pay the bank back.