Seniors Squeezed in DC

Many retirees and people about to retire in the nation’s capitol are learning that all the money they’d set aside for their golden years is at risk. What’s the conventional wisdom for people preparing to transition from a paycheck to a Social Security payment? Pay off your mortgage. Reduce your debts and expenses.

But when seniors buy a piece of managed housing, a condo, townhome or apartment unit their neighbors now have access to every dime those older folks own. Rising HOA or condo fees and special assessments aren’t things that homeowners can decide not to pay. And the elderly who get behind in their dues are promptly foreclosed upon, their property turned over to association lawyers and auctioned off to pay massive legal and collection costs. 

The story linked below is worth reading, understanding, and passing on to others. If you have equity in your home, and if you’re elderly you have a huge target on your back.

Believe it.

(link to story in Washington Post)

 

 

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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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