​$1.6M Home Becomes Uninhabitable Due To Worthless Bricks

Author: Rob AdamsBy:
Staff Reporter
Mar. 30, 2015

$1.6M home becomes uninhabitable due to cracks. A man in New Jersey who thought he was building his dream home ended up with a worthless pile of bricks he says has cost him his happiness and all his money. Humayun Akhtar, 66, built the sprawling Florham Park home for him and his wife in 2007, according to The Inquisitr.

Almost immediately, Akhtar says, cracks in the home began to appear throughout the house, which he soon learned was collapsing into its unsound foundations and sliding off the side of the hill on which it was built.

The $1.6m home is uninhabitable and now Akhtar is in a protracted court battle with builder JDN Properties, who says have left him financially ruined and emotionally broken.

“I used to be a singing, laughing person … I don’t listen to music anymore. I haven’t seen a movie in ten years, I can’t relax anymore.”

Akhtar and his family have not spent a single night in the home, which has buckled so severely that a marble placed on the floor will roll freely without the slightest push, according to ABC News.

“I spent all the money I had and I was cleaned out. I have nothing now.”

Akhtar maintains he was too afraid the company would do a quick fix on the foundation.

The $1.6m home is now uninhabitable and the case will be seen before a New Jersey jury, which will decide if JDN Properties knowingly defrauded Akhtar.

Meanwhile, Akhtar’s attorney David Stanziale said that the home has gone into foreclosure, and Akhtar says his life is destroyed.

“This whole thing has destroyed my life … I feel like a fool. Now I have to live 250 years to recover all the money I lost.”

Unhealthful living conditions can make a home uninhabitable and affect their day-to-day living or overall well-being.

Moreover, an uninhabitable home does not provide sufficient security for a mortgage loan, so lenders won’t provide a conventional home loan until all the repairs are made. The Department of Housing and Urban Development (HUD), however, has a program called Section 203k that was created just for this situation.

Section 203k loans provide the borrower with both the mortgage and the funds to perform repairs and rehab in one loan. The loan is fully insured by the Federal Housing Administration (FHA), while the repair funds are placed in an escrow account and released to the contractors at the completion of each repair project.

So the $1.6m home that is uninhabitable won’t be sold unless the buyer agrees to pay cash for it. But that’s highly unlikely, and Akhtar has no other alternative but to try and settle the matter in court.

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