For those of you wanting to make a short sale on your house, you’d better keep an eagle eye on your good old Homeowners Association. They’re starting to get pretty crafty in keeping the neighborhood operating budget full.
For homeowners who are suffering through the housing mess and living with underwater mortgages, working out a short sale might help you save some of your retirement nest egg. The banks take a well-deserved loss, but you’re happy because you’ve found a buyer and you’ve escaped your nightmare of a mortgage.
Members of Homeowners Associations must pay their HOA dues, on time!
That’s as it should be, of course. After all, homeowners agree in their original real estate purchase agreements to abide by all HOA rules and restrictions. But in thousands of cases across the country, people’s homes are being snatched and sold at auction, sometimes without notice, after a late payment or other violation of vague neighborhood rules.
Tony Goodman, of San Antonio, Texas, is just another in a long line of homeowners to find themselves threatened with homelessness.
The move into ‘private governments’