Maronda homes files for bankruptcy

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By Kate Fitzgerald. Digital currencies. Banks form consortium to mint USDF stablecoins. By Penny Crosman. Last week, the Pittsburgh area's third largest builder filed for bankruptcy protection. Maronda Homes Inc. McDonough, representing Maronda. Bankruptcy Judge Judith Fitzgerald approved an order that closings continue, he said.

Title agents should do the following in addition to their regular duties handling the closings: scrutinize all bankruptcy orders to make certain that sales are authorized and liens are removed. The period for filing mechanics liens was expanded in to six months following the performance of the work. Even if the subcontractors have filed no lien prior to settlement, any lien they file up to six months after settlement could take priority over the new deed and the new mortgage.

Buyers should be careful to hire a real estate attorney for settlements instead of letting the mortgage broker or realtor choose a non-attorney title company to conduct settlement. Maronda said it owes its largest creditor, parent company Maronda Inc. Chapter 11 bankruptcy allows Maronda to continue operation under court supervision while the company is reorganized.

Maronda's operations in Pennsylvania and Ohio are included in the bankruptcy filing. The company's operations in Georgia and Florida are not included.

For years, the Maronda Foundation had been a staunch supporter of Catholic schools in the region, pumping millions of dollars to the Catholic Diocese of Pittsburgh and to specific schools that struggled with enrollment numbers and finances.

As the economy began to tighten several years ago, the foundation's support also dwindled, and the results, especially locally, were stark.