Residents discover their community has been handed to bank

North Texas homeowners are worried and confused. They're learning the developer who controls their HOA is turning communities over to the bank.

[stylewclass]

There are emails to several homeowners from the Willowcrest HOA where they state that they may not open the pool. Bruno Pasquinelli Jr. has left Portrait to start his own business. This company does not tell the truth to their homeowners. They own the HOA and they over pay vendors. This company needs to be investigated.

[Bruno]

The Willowcrest property was owned by Keybank, but it will be re-opened very soon under a new company name. The Portrait Homes brand is bankrupt and finished.

[Bruno]

The Willowcrest property was owned by Keybank, but it will be re-opened very soon under a new company name. The Portrait Homes brand is bankrupt and finished.

[okay]

yipee

[homebuyer]

I was under contract to buy with portrait before they went bankrupt.. They have shady business practices and should be investigated by the Better Business Burea.

[Bruno is dishonest]

Bruno wrote:

The Willowcrest property was owned by Keybank, but it will be re-opened very soon under a new company name. The Portrait Homes brand is bankrupt and finished.

Bruno strategy was to suck all the cash out of the company, let it go bankrupt, then come back to the bank to buy it back under CBJeni Homes. All the cash Portrait saved by not paying vendors and cutting back on warranty requests, was used to create a brand new company with cash that was suppossed to be gone while operating as Portrait. Even though the new entity is operating with a new name, the same dishonest person is behind the takeover. There are several warranty issues he failed to fix while in the last several months in Portrait and will likely do the same on his new entity.

[disgusted plano homeowner]

CB Jeni homes will be the same mess as Portrait homes. If I were a realtor with any moral or ethics, I wouldn't take prospective homebuyers there.

[joe blough]

Are they Jewish ?

[disgusted plano homeowner]

dunno. but i live in the area, and the mess that portrait left behind is shameful. There are half finishes houses just sitting and rotting. I am apalled that the same builder is allowed to come back to the community just under a different name.

[humbo]

huh?

[humbo sar]

huh huh?

[Sup yall]

That's why I don't live in a neighborhood that has an HOA. We police ourselves.

[Rep]

HOA equals limited rights and no democracy. Hopefully HOA abuse will cause it's downfall and we need legislative action.

[Mr Pasquinelli]

Why does Pasquinelli even have a website still up if they have no communities left and are bankrupt? I checked thier website and they are down to only two communities in the Chicago area now. They had over a hundred properties in various states a year ago.