America's First Home Goes Under

America's First Home Goes Under

There are 116 comments on the Tools of the Trade story from Jan 10, 2008, titled America's First Home Goes Under. In it, Tools of the Trade reports that:

Unable to pay its debts, America's First Home LLP, a Florida-only builder, is asking a judge to let it turn all the company's assets over to a receiver, who would liquidate the company and then divvy up the ...

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investigator

Fort Myers, FL

#113 Mar 2, 2010
Barry Frey is with:

Tarp Properties #2
9696 BONITA BEACH ROAD, SUITE 206
BONITA SPRINGS FL 34135 US

The registered agent of this company is:
THOMAS O. WELLS, P.A.
540 BILTMORE WAY
CORAL GABLES FL 33134 US

They've been bidding and buying homes in foreclosure and then renting them back out.
investigator

Fort Myers, FL

#114 Mar 2, 2010
Barry Frey bids for and buys homes in foreclosure in Collier and Lee County, FL.

His main office is in Bonita Springs, FL
investigator

Fort Myers, FL

#116 Mar 2, 2010
TARP = Troubled Asset Relief Program

Wow, he's making money now out on what he caused????

What a genius!
TOUCH

Kissimmee, FL

#117 Mar 5, 2010
Bastards...they deserve what they got....i was ripped off big time by America's first Home...Dont do unto others as you would not like others to do unto you....they raised the price of my house and land by $35,000.00 after i signed the contract...
crooks and liars

Windermere, FL

#118 Mar 13, 2010
TOUCH wrote:
Bastards...they deserve what they got....i was ripped off big time by America's first Home...Dont do unto others as you would not like others to do unto you....they raised the price of my house and land by $35,000.00 after i signed the contract...
Then you shouldn't have been stupid enough to sign a contract with an inflation clause in it...

... I am assuming, of course, that you actually READ it before signing, right?
crooks and liars

Windermere, FL

#119 Mar 13, 2010
investigator wrote:
TARP = Troubled Asset Relief Program
Wow, he's making money now out on what he caused????
What a genius!
How did Barry Frey cause people who entered into contracts without coercion and with sound mind to default on their obligations?
jack

Culloden, GA

#120 Apr 8, 2010
i just wanted to post something. POW!!!!!!
TOUCH

Kissimmee, FL

#121 Apr 13, 2010
crooks and liars wrote:
<quoted text>
Then you shouldn't have been stupid enough to sign a contract with an inflation clause in it...
... I am assuming, of course, that you actually READ it before signing, right?
Point well taken....but i would have lost my deposit had i backed out
New to NP

Detroit, MI

#122 Apr 13, 2010
Can anyone advise what type of water system AFH used in the North Port area. I purchased my home on 11/30/07 and received no info concerning the system, just them saying it is RO. To my surprise I had to contact a service company do to a leak and was advised it is not RO.
Dolly

United States

#123 Jun 10, 2010
I was on a lease with option to buy too at Hatchwood Estates moved in June of 2007 to received a letter of Foreclosure on October of 2008 and was advice to vacant the home on December of 2009 because the house was going to Auction. I contacted investment brokers and they were in shock that I received that letter they said they had no idea. I then contact an attorney paid $700.00 to tell me that there is nothing that can be done. To look elsewhere. I then contact the owner of the house and he said sorry didnt't mean to hurt you but I need to save the house that he is living in which he resides in Connecticut. I also had put $5000.00 downpayment plus $500.00 and the rest of the rent which is a total of 23, 000 plus. I wasn't able to purchase the home and they wanted the balance of the house too..The rent was being paid and I was still continuing to pay the rent until as I was advice to stop. I loved and love the house I was living in but all I want now is that if I can't be grandfather into the house I would like to be compensated for the investment that I contributed to the house..
Jojn

Birmingham, AL

#124 Jun 20, 2010
America's First Home Goes Under. Just saw this, thought they were talking about the White House, I know it is in debt up to its eyeballs.
Maria Cosme

Kissimmee, FL

#125 Jan 3, 2012
I have a problem with the construction of my home and I called the builders and they don't want to take care of it. Im having this problem since 2008 and they telling me its not their responsibility. My home when settling the structure dropped on one side of the home and the walls and floor is split.
Eagle Point Resident

Wildwood, FL

#126 Apr 15, 2014
I'm needing to replace some tiles on my AFH home in Eagle Point in Groveland. Does anyone know the brand of tile that they used?
Toaster

Saint Augustine, FL

#128 Apr 18, 2014
Doral Pointe also wrote:
<quoted text>
http://lbfmiami.com/AFH/Default.htm
America's First Home, LLP
Contact a lawyer! This is the team handling all assets of AFH. Hope it helps. Sincerely, Ashurst St. Resident.
I'm not familiar with that neighborhood project,but if you have a large number of minorities in the
project I would move, because very soon the area will become a sh-thole regardless of what you invest to improve your property. Crime will be a major problem.
hiloshark

Denver, CO

#130 Jan 16, 2015
Toaster wrote:
<quoted text>
I'm not familiar with that neighborhood project,but if you have a large number of minorities in the
project I would move, because very soon the area will become a sh-thole regardless of what you invest to improve your property. Crime will be a major problem.
Wow, thats not racist or anything
history teller

Fayetteville, NC

#131 Thursday Jun 9
Anonymous wrote:
<quoted text> I was also an employee at AFH! Get real, you know these managers were all way overpayed and had little or no experience. This company was being managed by a bunch of wanna be managers that tried to talk about intergrity, respect and loyalty though they had none themselves. The emplyees at AFH were first-class and busted their behinds to do everything it took to keep it afloat.We were like little hamsters trying to keep that wheel going, and they knew it would be to no avail. We all know that the Barry, Jack, Ron(what a joke), Judy and the rest of those wanna be's were running a company that could have been very succesfull, but failed poorly, not because of the "market", but because of their poor skills, knowledge, and inability to run a company. Maybe less golfing, and more managing would have helped. And to act like they had no clue that we were going under! PLEASE!! I wanna puke at how fake their "concern" about us was. If the CEO did not know what was going to happen to this company, then he had NO business running it. He knew! They all knew. Wake up! I know who wrote that comment above, and you are a good hearted person who likes to see the best in people but let me tell you... these jerks knew what they were doing!
Waited a long time to comment on these posts. The meltdown was sad and there were no companies, employers, or employees that survived without significant damages. If anyone wants to truly understand how America's First Home performed through this storm, ask yourself; did the employees ALL get severance checks, even though they had no agreements (yes); were vendors and creditors paid up until they were legally disallowed under law in a bancruptcy (yes); did every builder around AFH stop paying vendors and creditors months before they closed and lock out employees without notice or check (yes). AFH was an extremely high-performing builder and it was absolutely due to the employees who bought into the concept of delivering quality of life with homes.

If you think that Jack Rostetter worked within the estate after AFH closed for self gain, then you did not know him. He stayed in attempts to recover as much as he could from the assets of the company in order to pay creditors. He also wanted to see homeowners get warranty service for as long as possible. He left because he felt that the lawyers who were assigned the estate did not have the same intentions.

The meltdown was to our generation what the Great Depression was to its generation. There were causes that were well above the activities and influence of most that were victims. However, it is possible to learn from it and ensure that it never can happen again. Don't buy what you can't afford! Don't lose sight of the economic fundamentals that drive households!

My biggest lesson - my happiest and most proud lesson, was that the employees of AFH were the best that have ever seen and probably will ever see. These people were truly committed to the company and its mission and values. That can never be taken away - even through the devastating impacts of the melt down.

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