THP goes under, homeowners react

April 23, 2009 2:49:02 PM PDT
Residents of the Coddington View development in Royersford want answers. Their developer, THP, is in dire financial straits and their neighborhood is unfinished. They pay homeowner association fees but the grass is growing longer by the day and they wonder who'll pick up the trash.

"They stopped construction Monday and I haven't seen them since and still have everything open laying out and nobody's been working," said Steven Anastasi.

"We're upset because THP didn't give us any notification not even a flyer on our door that there was something coming," said Tonya Shea.

At THP's headquarters in Harleysville, the windows were covered and a note was taped to the door.

It reads in part: THP has temporarily suspended operations but the company is exploring options to restructure its ongoing operations.

Published reports say the company and its founders, Tim and Todd Hendricks, are being sued by Wachovia Bank for $20-million.

"We'd given our down payment and we were worried."

Tonya Shea and her boyfriend originally agreed to buy a home in Gilbertsville but after months of inaction and as rumors spread about the company's finances they knew they needed to get in a home.

"I went in and spoke with them and they worked with us to look at other properties and other location."

They settled in Coddington View but their fireplace still doesn't have its mantel or the granite upgrade they purchased. And it likely never will.

"I went out and bought a mower today so I can mow my own lawn because I know they're not going to be out anytime soon."

Action News made repeated calls to the Hendricks' but those calls have not been returned.

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