Homeowners Recovery Fund
The Homeowners’ Recovery Fund is available for homeowners who have hired a licensed builder to build a residence or perform work on an existing residence for which a license is required. If the homeowners get a judgment against the licensed builder, but are unable to collect on the judgment, the homeowners can collect up to $20,000.00 toward the amount of the judgment comprising actual economic damages from the Homeowner’s Recovery Fund.
No. The builder must be licensed by the Board at the time the work was undertaken, and at the time the contract was entered into.