guest blog by Nila Ridings
~follow up to blog of November 15th~
HOA members across the country are outraged to hear the story of 75-year old Ingrid Boak, who lost her mortgage-free home in Lexington, Kentucky. And it was all over a minuscule amount of HOA dues owed to Masterson Station.
Nathan Billings, the HOA’s attorney, says they followed the CC&Rs and it was all legal. Okay, but had there been a mortgage for $135k would this same procedure have been followed??? Admission has been made that MOST foreclosures by HOAs include an unpaid mortgage. Sorry, Mr. Billings, but this case smells worse than a pile of race horse manure!
Kentuckians are now scared of losing their homes and panic has set in. The checks are stacking up with delinquent dues payments. But don’t be jumping for joy too soon! Thanks to this story, far more home buyers nationwide have now learned the nasty, ugly and ruthless truth about HOAs! And you can bet their Realtors are going to hear, “Don’t show me any property with an HOA!!!
Hearing that a City Council member is supporting Ms. Boak gives us hope that the end result will be what’s morally right. Shevawn Akers has a Facebook page. What do you say? Let’s encourage her with our support so she’ll fight harder to save Ingrid’s home.
If Stephen Collins Foster were alive today he’d probably change his 1851 song title to, “My Old Kentucky Home before The HOA.”
http://www.kentucky.com/2013/12/03/2967748/masterson-station-foreclosure.html
