Mesa Arizona Bank, Mesa Bank refuses to pay Mesa Arizona
We contracted to build a house for an individual who financed his construction loan through Mesa Bank. The Home owner ran into serious financial problems prior to the home being complete and was unable to qualify for a permanent loan to pay off Mesa Bank. Mesa Bank was aware of his financial problems and decided that we should go ahead and complete the home so it could be sold. They funded money to purchase material for completion but when it came time to pay for the labor they decided not to pay. The construction loan had matured and they refused to extend it, even though there is enough money not drawn on the original loan funds to pay for the outstanding bills. A mechanics lien will be filed against the property, but this doesn't help if they foreclose on the construction loan. My complaint is centered around them funding money for materials but refusing to pay for labor.
Shelly
apache junction, Arizona
U.S.A.
2 Updates & Rebuttals
Robert
Buffalo,New York,
U.S.A.
Did you?
#3Consumer Comment
Tue, September 23, 2008
Did you ever have any sort of a written contract with the bank?
I can't understand why you or your company would continue to work without any payment for labor. I have many friends in the construction trades and they are very fickle-you don't pay them, they leave and don't come back.
Shelly
apache junction,Arizona,
U.S.A.
Mesa Bank
#3Author of original report
Tue, September 23, 2008
we will contact 3 on your side.