New Home Construction Guaranty Fund
The New Home Construction Guaranty Fund can reimburse consumers who are unable to collect for losses resulting from work performed by a registered new home builder. Homeowners may be eligible to receive up to $30,000 from the fund if the following criteria can be met:
The homeowner must already have been awarded an arbitration decision or court judgment, the registered new home contractor must be found “judgment proof” (having no money or assets in his/her name, or he/she can not be located).
The homeowner must retain a State Marshal to serve a “writ of execution.” The homeowner is responsible for providing proof that the writ was served and that there was no response. If the homeowner is trying to collect based on an arbitration award, they need to first obtain a court judgment confirming the award.
Please fill out the Guaranty Fund application online by clicking here: