Seriously? Mr K Didn’t Know of Foreclosures?

Posted: February 8, 2012 in Business, Legal, Meeting With UPH
Tags: , , , ,

Even Jackie Chan is dumbfounded...

Reader rglad left a comment in another posting regarding his current situation with UPH.  Looks like Mr K is staying on-point with his financing issue message.  We wish rglad the best.  But as a postscript, rglad mentioned the following:

Also from the meeting we found that Steve didn’t even know his buildings were in foreclosure. He found out from one of his clients and was shocked. This is a little scary knowing that the owner of the company didn’t even know there was an issue.

Wait a minute… Whaaaat?  Mr K was unaware of his properties foreclosures?  Is he not reading his mail or something?

Look, we at Mistakably Premier found Mr K to be a nice guy.  And we don’t really harbor any ill will to him or his company(s).  But come on, Man!  Let’s be honest… What kind of statement is made when a President and CEO has no knowledge of what’s legally transpiring at his company?

  1. rob says:

    First off, I would like to say, as a contractor of uph that they have NEVER HONORED their payment schedule. And now they have moved homeowners into houses before even closing on them. Bad move for homeowners!!!! A company this shady should have never been allowed to do such a thing!!!! Now the homeowners could be screwed and UPH can just run off bankrupt!!! That’s straight dirty pool.

  2. Ro says:

    RE 3-8-12; Rob would you please clarify how the (moved-in) homeowners can get screwed even more by UPH?

  3. ash says:

    um i would say Ro if you moved in and hadnt closed on your house. you dont own it legally and all the contractors they havnt paid you OWE.. depending on what loan you did.. if you did a construction loan and UPH didnt pay you are resposible to pay those subcontractors whether or not you gave UPH the money or not..if you have an end loan you technically dont own anything until you close..hope that helps

  4. Ro says:

    Ash, your comment “if you did a construction loan and UPH didnt pay you are resposible to pay those subcontractors whether or not you gave UPH the money or not.” is incorrect. We have a construction loan which closed immediately so we do own the house/property and also we did pay UPH.
    The ORC 1311.011 provides protection for the homeowner if the subcontractor places a lien on your home. You need to be able to prove that you have paid the contractor for the work the subcontractor completed, via payments through your bank on or about the time the work was completed and they requested the draw, via the Affidavit of Original Contractor signed by the Contractor verifying there are no claims against the house and via the appraisal. You send a notice to the subcontractor and they are required by law to remove the lien within 30 days.

    This is a terrible situation for numerous people and my heart goes out to all of us involved and in limbo. We are all looking for information, but instead of talking down to people, it would be much more beneficial to provide sound advice, Ash.

    There are so many issues that could come up later and I just wanted to ask Rob if he could provide further explanation to his comments. I can imagine the builder won’t be available for the 1 year inspection or any issues that arise from the house, but I don’t want to assume anything and I certainly don’t want to pay extensive lawyer fees if it can be avoided. Good luck to all!

    • ash says:

      Ro, First of all I was not “talking down to anyone” and my sound advice came from a lawyer who specializes in loans and realestate who I did “extensively” pay for his expertise. If you have a construction loan and you pay UPH to build your home and UPH does not pay the subcontractors who did work on your home YOU ARE RESPONSIBLE. Unless there is a clause in you loan that will protect you. Regardless, Once UPH claims bankruptcy LEGALLY by law you can not contact or go after them and YOU do still own the home and are responsible for any subcontractors that wernt paid because at the county office the LOT and HOUSE are placed in your name NOT UPH. This is prior to closing because thats the difference in loans. Unless it was just our bank with a construction vs end loan our lawyer did tell us this was the difference between loans. And Further more I’m trying to be helpful not talk down to anyone. Dont listen if you dont want to here what a professional of expertise recommended!

  5. burnedbyuph says:

    If you’ve had problems with UPH, please sign the petition against UPH! We need to make our voices heard. If we get enough signatures we can some press attention to this or Medina County courts to have them look further into UPH’s practices. It will be a good way to see how many people are having issues with UPH.

    You can sign anonymously as well. Please provide your own personal experiences in the optional comments section as well. Here is the link:

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