Bank Foreclosures Down, HOA Foreclosures Up!

Regular readers of this blog have long known most of the material in the article linked below. But regular readers also know that I’ve long predicted a second massive housing bubble, this one larger than the one in 2009, this one directed squarely at the 63 million homes controlled by Homeowners Associations.

As you read the article below, keep in mind that most of these 63 million homeowners have loans backed by the now bankrupt Fannie Mae, Freddy Mac along with the FHA and various other agencies connected with the federal government.

You still want to move into a Homeowners Association?

(link to story from Naked Capitalism)

 

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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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