TH Properties (THP) Suspends Operations

Once considered 'America's Fastest Growing Builder', TH Properties (THP) has suspended its operations. The Harleysville PA based company has temporarily closed its doors in order to restructure. The recession and the collapse of the housing market has had a negative impact on the company's operation.

Annandale and Whitfield Estates are two THP developments located in the Macungie area of the Lehigh Valley. Annandale appears to only have resale homes and Whitfield Estates has one new home under agreement.

This story is a word of warning to anyone considering purchasing new construction. Typically, a large deposit is required when purchasing a new home. What happens to this deposit? Is it placed into an escrow account or does it go into the Builder's account?

If the money is placed into the Builder's account and the builder goes bankrupt the buyer may lose thousands of dollars.