HOA Burglars!

      2 Comments on HOA Burglars!

I guess we learn things all the time and this one is interesting. It’s a paper published in the University of Cincinnati Law Review about the 2008-2009 mortgage meltdown. Lending institutions are way behind on dealing with all the foreclosed properties. They’ve hired property management companies to help deal with the overload.

Now there’s been a rash of lawsuits by homeowners late on their payments who’ve come back to find that their homes have been trashed and their personal property stolen. Seems it’s being done by these third-party contractors hired by the mortgage companies.

I wonder if there’s any spillover by management companies that foreclose on liens on people in Homeowners Associations?

(link to paper on mortgage burglaries)

 

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About Ward Lucas

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.

2 thoughts on “HOA Burglars!

  1. AngelaB

    Are there decent property management companies? Our HOA has dealt with three, and each was worse than the last. We’d get rid of the one we have, but there are no other choices left in my area.

    Reply
    1. Ward Lucas Post author

      I have an excellent property manager but he doesn’t work with HOAs. There are a few honest people in the business. But the very structure of Homeowners Associations makes them very attractive for manager and board dishonesty.

      Reply

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