Posted February 21, 200619 yr Homeowners sue Dominion Homes By Jill Riepenhoff The Columbus Dispatch Tuesday, February 21, 2006 10:03 AM Homeowners in two Dominion Homes' subdivisions today filed a lawsuit against the Dublin-based builder on behalf of all customers who bought houses with down-payment gifts and interest-rate subsidies. The homeowners, who live in Galloway Ridge and the Village at Galloway Ridge on the Far West Side, claim they were victims of fraud because the incentives were added into the cost of their houses without their knowledge. read more at: http://www.dispatch.com/news-story.php?story=167952
February 21, 200619 yr My parents live in Galloway Ridge. (Only from my limited understanding from half-listening to what my mom told me) they had some kind of financing availible where they offer these people really low monthly payments for a few years, then the payments go way up... I think it also allows these people to get homes without a downpayment...I'm not sure though. But it's becoming a problem because once their payments go way up, they don't have the money to pay their mortgage and now they're having all these forclosures in the neighborhood yet they're constructing all these new buildings and it's making the value of the neighborhood go down. Dominion is claiming that it's due to other factors such as crime, divorces, etc. but it's supposedly not.
February 22, 200619 yr 2 lawsuits multiply woes for Dominion Action by homeowners in three neighborhoods could affect thousands Wednesday, February 22, 2006 Jill Riepenhoff THE COLUMBUS DISPATCH Add two class-action lawsuits to the challenges facing Dominion Homes. In a coincidental one-two punch, homeowners in three subdivisions filed lawsuits yesterday against the Dublin-based builder. The lawsuits, filed in different courts, could affect thousands of Dominion customers in central Ohio. More at: http://www.dispatch.com/news-story.php?story=dispatch/2006/02/22/20060222-A1-02.html
February 24, 200619 yr Homeowners file third lawsuit against Dominion By Jill Riepenhoff The Columbus Dispatch Friday, February 24, 2006 8:29 AM Disgruntled home buyers filed a third class action lawsuit this week against builder Dominion Homes. In the latest civil action, the homeowners accuse top executives including chief executive officer Douglas G. Borror and his brother, David, of offering them charity down-payment grants that give the illusion that buyers are getting something for nothing. David Borror is corporate executive vice president. Read more at: http://www.dispatch.com/news-story.php?story=168670
February 25, 200619 yr U.S. officials examine down-payment programs Government concerned about charities’ motives Saturday, February 25, 2006 Jill Riepenhoff THE COLUMBUS DISPATCH Charities that route down payments from sellers to home buyers have piqued the interest of the Internal Revenue Service. A day after a second class-action lawsuit challenged the way Dominion Homes handles customers’ down payments, IRS Commissioner Mark W. Everson said his agency is examining the tax-exempt charities. "We’ve worked real hard on this," Everson said yesterday after a speech in Cleveland. "We want to make sure that the money isn’t just in a closed loop . . . that there’s a real legitimate charitable interest." More at: http://dispatch.com/news-story.php?story=dispatch/2006/02/25/20060225-A1-02.html
February 28, 200619 yr Dominion shifts gears on loans Wells Fargo venture will handle builder’s mortgage business Tuesday, February 28, 2006 Mike Pramik THE COLUMBUS DISPATCH Faced with investigations and lawsuits over its moneylending practices, Dominion Homes Inc. is calling on Wells Fargo to help provide mortgages to its customers. Dominion is forming a mortgage bank with Wells Fargo Home Mortgage, the largest new-construction lender in the United States. The bank will replace Dominion Homes Financial Services, which Dominion created in 1999 to write mortgages for the homes it builds. In recent months, Dominion has faced inquiries from the U.S. Department of Housing and Urban Development and the Ohio attorney general, and lawsuits from customers who say their houses are worth less than they paid for them. More at: http://www.dispatch.com/business-story.php?story=dispatch/2006/02/28/20060228-E1-01.html
March 1, 200619 yr Dominion’s defaults to become less visible Deal with Wells Fargo means failed loans won’t be traceable on database Wednesday, March 01, 2006 Geoff Dutton and Mike Pramik THE COLUMBUS DISPATCH A plan to spin off Dominion Homes’ mortgage division will make it impossible for the public to continue tracking the embattled home builder’s loan defaults. Dominion, whose customers’ high default rate on government-insured mortgages has recently triggered lawsuits and investigations, announced details yesterday of a plan to sell a controlling interest in its mortgage division. More at: http://www.dispatch.com/news-story.php?story=dispatch/2006/03/01/20060301-A1-00.html
March 3, 200619 yr Dominion Homes has new president, COO Friday, March 03, 2006 Mike Pramik THE COLUMBUS DISPATCH Dominion Homes Inc. has tapped one of the country’s biggest home builders for its new president and chief operating officer. Jeffrey Croft had been in charge of Pulte Homes Inc.’s Eastern region. At Dominion, Croft will oversee areas including operating performance, personnel, product development, project approval and expansion into new markets. More at: http://www.dispatch.com/business-story.php?story=dispatch/2006/03/03/20060303-G1-03.html
April 29, 200619 yr Builder’s olive branch: $100,000 park upgrade Saturday, April 29, 2006 Geoff Dutton THE COLUMBUS DISPATCH Homeowners in a Far West Side subdivision have handed Dominion Homes a $100,000 to-do list. The company distributed a ballot of options earlier this month to Galloway Ridge homeowners, asking them to select up to $100,000 in enhancements. The votes, tallied this week, overwhelmingly focused on improvements to the neighborhood’s park. Dominion will plant trees and add playground equipment, a walking path, picnic tables and trash cans. More at: http://dispatch.com/news-story.php?story=dispatch/2006/04/29/20060429-A4-02.html
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