paul the original - 3/24/2009 18:30 As I look at the business section of the 'Trib once a week or so, I see more & more builder-types going bankrupt. While the farm ecconomy has done better than the house builder's ecconomy, builders are builders, a lot might be on shakey ground. I recall dad telling the story of the house materials for the 1926 house having to be paid for twice back then - the contractor went under in 1926 with the money, and had to pay for the materials to the lumber company all over. How do we protect ourselves from that happening in these times again? --->Paul Do not give the contractor title to the lot or land the home is built on. Most contractors secure a construction loan to build the home and pay the sub - contractors and materials (lumber and such) - the land title is security for the bank. The contractor goes under or is going under and you lot/land could go to the banker . . . As others have posted - pay for materials and labor as they come due and get lein waviors each time - itemized for work completed. Checks and balances in these times. . . . | 
Mechanics lein
