57°F
weather icon Mostly Clear
Las Vegas, NV
Housing

Homebuilder Rhodes sued over past-due loan from failed bank

February 7, 2011 - 5:32 pm
 

The Federal Deposit Insurance Corp. has sued homebuilder James Rhodes over a $2.6 million, past-due loan from failed Community Bank.

The FDIC, as receiver for Community Bank, is suing over a deficiency, based on Rhodes' personal guarantee for a loan secured by two lots in Spanish Hills Estates. The government agency also alleges breach of contract. The lawsuit was filed on Feb. 2 in Clark County District Court.

Regulators closed Community Bank in August 2009.

Attempts to reach Rhodes for comment failed.

THE LATEST
 
What should you do if you get evicted in Las Vegas?
By Patrick Blennerhassett / RJ

The legal system is weighted toward landlords, which means renters should know their rights before they sign on the dotted line.

Gen Z can't seem to get into the housing market in Las Vegas. (Bizuayehu Tesfaye/Las Vegas Revi ...
This age bracket isn’t buying houses in Las Vegas
By Patrick Blennerhassett / RJ

A new Construction Coverage report says Las Vegas residents in this age group have one of the lowest homeownership rates in the country.