I’m no big fan of court decisions that favor big banks, in fact, I’m a bitter critic of some of the financial scams the big banks run. But the latest one in Nevada is no miscarriage of justice.
A lower Nevada court had ruled that investors in foreclosed HOA loans had a super-priority right to grab up a foreclosed house for a few thousand measly bucks, and cancel the loan the original mortgage company had given the homeowner. For a few thousand bucks you could just ignore the entity that loaned the original homeowner the half million it took to buy the home in the first place.
I’m really good, aren’t I? I should go into business as a professional psychic! Just a few days ago in a blog post headlined, “Fire That Reporter, Judy Thomas,” I predicted that the powers-that-be would come down like a sledgehammer on the reporter who wrote the fantastic HOA series in The Kansas City Star.
It’s starting, just like I said it would. Linked below is an internal column by the Community Associations Institute, (CAI). It’s so typical of the rank distortions by CAI whenever they refer to homeowners rights advocates. The KC Star’s series was not only incredibly accurate, but it was also fair and balanced. The national Homeowners Association scam is so far out-of-control that a typical reaction to the phrase, ‘homeowners association’ is a couple of raised eyebrows. It’s hard to find a single person who hasn’t heard horror stories about HOA life.
Wow! All of a sudden it seems like HOA media coverage has exploded! A raindrop here and there, and all of a sudden a thunderstorm!
HOA aficionados, lawyers, liars, and HOA organizations that perjure themselves while testifying in State Legislatures continue to complain that true HOA problems are so rare they don’t merit attention. Rare, indeed! The rare HOA is one that DOESN’T have problems.
Get it, folks? HOAs are universally as fascist as they are incompetent. Bullies run for the board. They get elected because homeowners have been bullied into submission and don’t even dare to attend the meeting and vote. Once a bully is in power, the testosterone gets released.
One of the most articulate and intellectual bloggers in the homeowners rights movement is Deborah Goonan. A critically important recent column of hers is one that’ll be overlooked by most of us, the so-called Housing Opportunity Through Modernization Act. It would force the FHA to ease regulations on mortgage financing for those buying condominiums. On the surface it sounds like a great thing, lowering down payments, reducing the mandated number of owner-occupied units.
The ripples from the investigative series in the Kansas City Star continue to move across the nation. Editors at many major newspapers are undoubtedly kicking themselves for not diving into the story earlier. Beleaguered homeowners in out-of-control Homeowners Associations who’ve been victimized by the local lawn Nazis are feeling a bit of satisfaction that someone in the newspaper industry is finally looking their way. And some HOA bully boards may be looking behind them to see if investigative reporters are shadowing their activities.
This is a preview of
Ripples from HOA Media Exposure Continue
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