I started a Veterans Home loan and Construction land purchase build in Gloucester VA 23061. I'm a disabled Combat Veteran that started a process to build a home through Signature Homes and buy 5 acres. This was November of last year when the loan was approved through Security America Mortgage, Inc., NMLS 355253. Loan start date NOV 2019. Expected home built May 2020.. 60 day extension due to COVID-19 TO 1 August 2020. Footers set on home in September. No schedule or itenerary of when the house will be completed and installed at site. No septic, leach field, driveway, or well (drilled). very little communication with bank or contractor. Its been almost a year since the house specs were drawn and ordered. House is in a warehouse in NC awaiting delivery since Jan 2020. What do I do?
First off, I am sorry to hear about the persistent troubles you have been having. It it is worth defining what a breach of contract is and if your situation may apply here. A breach of contract occurs when a party fails to uphold one of their contractual obligations. They were required to do (or not to do something) and failed to do so. When a contract has been breached, some type of damages may be necessary, and a lawsuit might end up taking place.
There are 3 common causes for breach of contract, which includes schedule and delay issues. However, falling behind schedule might not be ideal, but it might not be a breach either. Whether falling behing of schedule is considered a breach comes down to the terms of the contract, particularly if there is a, "no damages for delay" cause. The clause is essentially no pay for delay. There are a number of remedies that can result from contractor-caused delays that an owner may have a claims for like: supervision costs, extended general conditions, jobsite trailer rental, etc.
Finally, when a contract has been breached, the non-breaching party who has been injured may be entitled to certain legal remedies : damages, rescission, reformation, and specific performance. To determine if you have a breach of contract claim that you may bring, you first need to check your construction contract. To recover under a breach of contract claim, typically that means filing a lawsuit, and you will probably need a lawyer. Contacting a Virginia construction attorney will be very helpful to you.
I hope that helps!!