Introduction to the Issue
Some homeowners preparing for hurricane season spent thousands of dollars on impact windows and doors. But the contractor disappeared with their money. Some homeowners filed lawsuits to get it back.
Background on the Dispute
Two years have passed since Ana Vieira hired Alco Windows and Doors LLC to install impact windows at her Margate home. The windows never arrived, but she was still being forced to pay for them. Ana Vieira, homeowner, expressed her frustration: “I should not be penalized for somebody’s mistakes!” Back in February, it was revealed she was one of several homeowners with similar stories. All of them say they got a loan to pay Alco Windows and Doors LLC, but either work was never started or jobs weren’t finished. It left them on the hook for thousands of dollars.
The Loan and Financing Process
Ana says she refused to pay it back. Her loan was $10,028.36, and all she wants is for that loan to be removed from her credit history. Homeowners are taking their cases to court, suing not only the window business but also the financing company that gave them loans to pay for the work. Hal Axler, another homeowner, shared his experience: “Hopefully there will be some justice for this.” The homeowners say an employee with Alco Windows and Doors LLC signed them up for loans through an online lending service called Momnt. It connects construction companies with banks to provide financing for customers. Hal Axler was approved for a $10,000 loan. The money was sent directly from Momnt to Alco Windows and Doors LLC, but no work was ever done, and no one from the window company would respond to his calls.
Legal Action and Allegations
Several lawsuits have been filed against Alco Windows and Doors LLC, Momnt Servicing Company LLC, and one of two banks that provided the money for the loans. One lawsuit claims Momnt Servicing Company LLC and the banks were involved in “deceptive practices” by issuing payments without checking “whether Alco Windows and Doors LLC has pulled permits or initiated work.” Attorney Yasha Osby says Momnt would send money to Alco Windows and Doors LLC before work was even started, adding that financing companies usually wait until a contractor has pulled a permit before sending any money. Osby is representing five homeowners who are asking for the loans to be canceled or be awarded enough money to pay them off.
Response from Momnt Servicing Company LLC
Momnt Servicing Company LLC tells 7News, “We are committed to resolving disputes and fulfilling our obligations to our consumers. We investigate all claims thoroughly and take appropriate action based on the results of the individual investigation.” And just this week, Ana was notified her account was closed and the loan was taken off her credit report. Ana Vieira expressed her relief: “Finally, I’ll be able to see the light at the end of the tunnel.” The other homeowners haven’t heard anything about their loans. Ana says at least she can finally close the door on this devastating financial storm.
Conclusion
The case of homeowners being left with significant debts after a contractor disappeared with their money highlights the importance of thoroughly vetting contractors and understanding the terms of financing agreements. It also underscores the need for financing companies to have robust checks in place to protect consumers. As the legal proceedings continue, it is hoped that justice will be served, and those affected will receive the compensation they deserve.
FAQs
- Q: What happened to the homeowners who hired Alco Windows and Doors LLC?
A: They paid for impact windows and doors but the work was either never started or not completed, leaving them with significant debts. - Q: Who are the homeowners suing?
A: They are suing Alco Windows and Doors LLC, Momnt Servicing Company LLC, and one of the banks that provided the loans. - Q: What is Momnt Servicing Company LLC’s response to the allegations?
A: They claim to be committed to resolving disputes and fulfilling their obligations to consumers, investigating claims thoroughly. - Q: What do the homeowners hope to achieve with their lawsuits?
A: They hope to have their loans canceled or be awarded enough money to pay them off. - Q: How can homeowners protect themselves from similar situations?
A: By carefully researching contractors, understanding financing agreements, and ensuring that financing companies have robust consumer protection measures in place.
