Perhaps the Final Word on Altieri Homes

I’ve written a few posts on the impending demise of local home builder, Altieri Homes. They were once one of the largest regional homebuilders with projects in at least three states. The company headquarters was located on Red Branch Road in Columbia where they employed a fair number of people and did business with a fair number of other local companies. 

I speak of them as if they are no more because for all intents and purposes they are no more. 

According to this story in this week’s Baltimore Business Journal, Altieri Homes has lost its state charter. “When a business loses its charter, it loses its legal status as a corporation, including its right to sue others in court.” 

The Alteri home buyers who are waiting for the company to fix construction problems will find themselves waiting in a very long line. The firm is in default of a $3.7 million loan with Wachovia, “a $1.1 million judgment in Baltimore County Court sought by John H. Myers and Son Inc.; A $300,212 judgment in favor of Commonwealth Construction Co., Inc. in Howard County Court; and a $542,000 judgment brought in Baltimore Court by Builder Services Group Inc.”