Traffic

Traffic
Live cams, Highway Updates

°

Homepage / San Antonio News
Text Size

Mirasol Homeowners Unsure Of Buy Back

Inability To Sue Concerns Some, Owners Say

POSTED: Saturday, August 11, 2007
UPDATED: 12:32 am CDT August 11, 2007

Take it or leave it -- that is what embattled Mirasol homeowners are being told about the buy back plan being offered as compensation for the defective KB-Built homes.

The night team's Erik Barajas reported that on Thursday night, some residents said they wouldn't take the buy back.

One of the main sticking points for homeowners being offered the buy back plan is the fact that they have to sign a waiver dropping the right to sue the San Antonio Housing Authority in the future, homeowners said. Some said that is a deal breaker.

Friday night, dozens of homeowners listened in on details of the HUD approved buy back plan. Mirasol residents were able to hear all details of buy back option.

In a worst-case scenario, a homeowner upside-down on their home because of a second lien, could still walk away with $9,000.

A homeowner in the best possible case could get a check for about $19,000, officials said.

"At this point, I think to go back to HUB and restart that entire process over to get adjustment to that plan is going to be very, very difficult. So the plan that we have in place is the plan that we are able to offer at this time," said SAHA Task Force Chair, Gordon Hartman.

"They make me sign a waiver, saying I can't sue any medical. If I have any medicals with my kids or myself, I mean, I'm not going to sign for that. I would rather grab a personal lawyer and sue them," said Mirasol homeowner Mark Ramirez.

For any homeowners who do sign up for the buy back plan, SAHA said it is looking to make it happen fast.

If a homeowner signs by Aug. 15, he or she could have a check in 30 days, officials said.
Text Size

Sponsored Links

Links We Like

Sponsored Content
Before you splurge on that pricey remodeling project, beware. It may not pay you back when it's time to sell. More

Employers generally have options when it comes to hiring. Makes sure you present yourself as professionally as possible, or else. More

Want to lose weight? Get a diet and fitness plan customized for you from Jillian Michaels of TV’s Biggest Loser. MoreClick Here

The signs of Cancer can sometimes be very subtle. Here's a guide to help you recognize them early. More

Most Popular