A Hurricane? And You’re Not Covered?
A recent issue of Realty Times discusses what thousands of victims of Hurricane Sandy already know: Homeowners in HOAs Co-ops and Community Associations aren’t eligible for storm coverage.
Huh? What’s that again?
FEMA, the Federal Emergency Management Agency, says Homeowners Associations are private businesses. As such, a homeowner who’s damaged in a major disaster can’t get federal grants. If they’re lucky they might qualify for loans, but by buying into a Homeowners Association a homeowner is actually just a shareholder in a business enterprise, not a real homeowner.
Ah, Las Vegas. “How we love ya, How we love ya.”
Get caught drunk driving and you might get a year behind bars. Embezzle a million bucks, cost fifty people their homes and you get 30 days!
Massoud Aaron Yashouafar is known in three states for his enormously fishy real estate deals. And he’s the big cheese behind the Paradise Spa scandal in Las Vegas. Much of the Homeowners Association burned to the ground in 2010, but somehow a million dollars in insurance money found its way to Yashouafar’s pockets instead of the homeowners.
Nevada, where HOA bigwigs have been smacked with dozens of federal indictments and convictions for racketeering, is now leading the nation in trying to offer due process to homeowners. It’s only a proposal in the Nevada Real Estate Division, but what a concept!
It’s just a handful of words in some obscure part of the Constitution.
But it’s almost beyond comprehension that Nevada homeowners might someday have real access to the Bill of Rights.
(click here for text of the Due Process proposal)
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The following definition is taken directly from the FBI Glossary. No further comment is necessary.
The FBI defines organized crime as any group having some manner of a formalized structure and whose primary objective is to obtain money through illegal activities. Such groups maintain their position through the use of actual or threatened violence, corrupt public officials, graft, or extortion, and generally have a significant impact on the people in their locales, region, or the country as a whole.
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As I’ve said repeatedly on this blog, never in my forty year career as an investigative reporter have I seen forty percent of the suspects on a federal indictment list suddenly ‘commit suicide’. But in the Las Vegas HOA scandal, of the first ten indictments, four suspects died in somewhat weird ways. Yes, I’ve read the coroner’s reports and the police reports. But still….
Attorney and HOA TV star Nancy Quon had supposedly tried to commit suicide before…WITH the help of her police officer boyfriend who supposedly had the Las Vegas police lab mix up some illegal drugs which she would use in her ‘suicide’. That cop is one of those under indictment in the HOA scandal. The coroner ruled it was a legitimate suicide. OK, I understand, it’s Las Vegas.