After Modukraf closes, man left with half a home
FRANKLIN COUNTY (WSLS 10) - We're learning more about the fallout following the closing of modular home builder Modukraf.
Last month, its parent company Innovative Building Systems filed for bankruptcy, leaving several people with homes unfinished.
Teddy Yopp says he is out more than $100,000 dollars for his Rocky Mount home, but he says the Friday before Modukraf closed, during a walk through, they told him everything was on-schedule.
Yopp has started up work again on his family's dream house.
Just days before Modukraf stopped work, Yopp says his talks with the company were positive.
"Everything was alright, not to worry about it, and it wasn't alright. He knew it wasn't alright, but yet he was still leading us on," said Yopp.
Yopp says he knows the company was leading him on, because the contractors told him how they were paying for resources.
"They were using credit cards and everything on my house to get little stuff done and basically when the credit cards were maxed out, it was over," said Yopp.
Those same contractors came to Yopp looking to be paid for their work.
"We were stuck with their bill. We ended up paying them off on top of already what we had already lost," said Yopp.
Yopp is just one of many around the country in this position.
Like Autumn Poulin, who the Portland Press Herald reports lost $20,000 dollars to the company in Wells, Maine.
Now, Yopp has hired the contractor who was originally working on his home to help him finish it, so he can move his family out of his mother-in-law's house, but with a wife and three children, it's costing him everything he has.
"All that college fund we had planned, we're having to put it in our house, and now we'll have to get loans for their college funds," said Yopp.
Yopp says he's already spoken to a lawyer, and doesn't see a way he can recoup much if any of the money he lost in the project.
"It will take the rest of our lives to get over this, I mean to get out of the debt that we're in. To pay off what we borrowed to get this house because we ended up buying this house twice," said Yopp.
Yopp says the plan now is to move into that house by the 4th of July holiday.
He says there is a list of people who will receive a payout when Innovative Building Systems ultimately sells off its assets, but he says he's number 14 on the list, and speaking to his attorney, thinks he can only expect to get about $1,000 dollars back.
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