What is the name of your state? FLORIDA. Hello, I signed a contract with a home builder for new home construction on October 6, 2005. According to the contract and the bank, the home should have been completed on August 6,2006. The house is only about 50% completed. I did take in consideration the rain which caused some of the delays.Now the builder said it will be another six months to complete.In the meantime I'm still required to pay the bank interest only payments. No work was done between Feb and June of 2006 according to the bank. Do I need to pursue legal action against the builder?