This is such a bad idea. Homeowners Associations are linking arms with the credit reporting industry to hammer the credit scores of homeowners late on their HOA dues. Horrible direction for this crooked, crime-filled HOA movement to take.
Look at news stories around the country. Go back and read the past four years of stories on this blog. Look at the horrors uncovered in the Kansas City Star. Now get out your calculator and start adding up the vast numbers of lawsuits that are going to be filed by homeowners whose credit scores were wrongly lowered. When lawsuits are filed against a Homeowners Association, who pays? And don’t say “the insurance company.” Ultimately, homeowners across the country will be forking over millions, hundreds of millions of dollars to pay for legal costs and judgments. Can you say, “Special Assessment?”
(link to excellent column about HOAs and credit reporting)
Believe it or not, those are the marching orders in many Homeowners Associations. Communities with young people are very popular among prospective home buyers. It’s rare that a young family will seek out neighborhoods with a lot of elderly people. Thus, HOA boards will use every trick in the book to get rid of members of the Old F-rts Club. Instead of trying to work with an older homeowner to get dues collected, many just fine, lien and foreclose.
The commentary linked below is a tragic one. But we hear it time and time again. Welcome to HOA Amerika.
http://cgmlawgroup.com/foreclosure-hoa-fees/
Condo, co-op, duplex. Growing numbers of people are moving into Homeowners Associations with approximately ZERO knowledge of what they are and how dangerous they can be.
It’s been tough getting the media’s attention, but the movement to wake American homeowners up seems to be gaining momentum. Every little bit helps, including the article linked below.
(a word of warning from TheStreet)
It’s unsettling how so many tens of millions of people have just blithely wandered into the Homeowners Association experience without thinking. And so many people think they’re getting such a deal by being one of the first to believe the developer’s promises and move in.
Hoo, boy. A number of prospective homeowners bought condos in a residential skyscraper under development in San Francisco. The developer just didn’t tell them all the relative facts; that one side of the building has sunk sixteen inches into the ground and the building is tilting.
Wow!
In an earthquake-prone city these homeowners are now wondering if the next quake will send their building on Mission Street…right down the middle of Mission Street, And there’s word the developer has known about this problem for the past seven years! That’s honesty for you.
I’m not sure who’d want to live in San Francisco, anyway. Yes, I’ve been there on multiple occasions. And yes, the restaurants are great. But with earthquake experts warning Californians that ‘The Big One’ might be a little closer than anybody thinks, yes, I’d rather live with the risk of Colorado blizzards than California temblors.
(link to story on leaning tower of Frisco)
guest blog by Nila Ridings
Facebook has lots of HOA, COA and cooperative ads that pop up and most I ignore. This one I could not because it said Village Cooperative a 55+ housing community. And wouldn’t you know Facebook has it blocked so I cannot make any comments. A year or so ago I did comment on some sort of HOA advertising and since then I’ve been blocked from making comments on all things HOA. Coincidence? I think not.
My heart sank. They are building several of these in close proximity to where I live! Who are the poor fools who will fall into this trap? Did they not read the Kansas City Star HOA Hell series that Judy Thomas wrote back in August? Were they on vacation? Were they packing to sell their house and move into this Village Cooperative? Or did they believe the sales pitch and not the journalist?
This is when I wish our advocates had massive amounts of money for advertising to purchase billboards next door to these places warning buyers to run like their hair is on fire!
Read their website. They make it sound like Village Cooperative is as close to heaven as you’ll get on earth. Makes me gag!
(link to Village Cooperative website)
