Homeowners burdened by homebuilder's money woes
... Michael Garver moved into his new Sotherby home two months ago. Within the past two weeks, letters started arriving in the mail from subcontractors threatening to put liens on his house and demanding thousands of dollars. ... "It's certainly frustrating to have people coming after you for things that you — in your mind — have already paid for," Garver said.
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High-end Plano homebuilder suspends some operations
... "national lenders have severely curtailed financing to builders such as Sotherby due to the recent economic crisis." ... Almost two dozen North Texas homebuilders have gone out of business during the last two years because of declining sales and reduced construction. ...
