Can You Say “SUSPICIOUS?”

At long last a Texas HOA is getting some much-deserved attention. Sadly, it took a homeowners lawsuit to get the ball rolling.
Folks in the Sunchase HOA in Northeast Austin are wondering where a million bucks went. It just kind of wandered off someplace. It’s illegal for a Texas HOA not to have regular audits of their books. Of course, it’s also illegal to filch a million bucks, IF that’s what happened. And Sunchase hasn’t had an audit for at least five years.

The property manager, Nancy Thompson keeps the HOA’s money in several different banks. But for some reason, she won’t let board members or homeowners see any of her bank statements. Board members are also question why Thompson was given thousands of dollars in bonuses. Austin Police are sniffing around. Between them and the lawyers, we may see some future news stories.

Good reporting by Chris Willis of KXAN.

http://www.kxan.com/dpp/news/investigations/lawsuit-filed-in-hoa-money-dispute

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About

Ward Lucas is a longtime investigative journalist and television news anchor. He has won more than 70 national and regional awards for Excellence in Journalism, Creative Writing and community involvement. His new book, "Neighbors At War: the Creepy Case Against Your Homeowners Association," is now available for purchase. In it, he discusses the American homeowners association movement, from its racist origins, to its transformation into a lucrative money machine for the nation's legal industry. From scams to outright violence to foreclosures and neighborhood collapses across the country, the reader will find this book enormously compelling and a necessary read for every homeowner. Knowledge is self-defense. No homeowner contemplating life in an HOA should neglect reading this book. No HOA board officer should overlook this examination of the pitfalls in HOA management. And no lawyer representing either side in an HOA dispute should gloss over what homeowners are saying or believing about the lawsuit industry.

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