Category Archives: Foreclosures

Somebody Tell Me Why This Isn’t 1930′s Style Facism?

I don’t like to go off half-cocked. I have a Bachelor of Arts Degree in Political Science, but for the life of me I can’t get my mind wrapped around this one.

Bankrupted California cities are now talking about seizing hundreds, possibly thousands of homes in California to condemn them, because the owners have troubled mortgages.

Under the controversial practice known as “eminent domain for Public Purpose” (Kelo v. City of New London) cities would be able to walk into essentially anybody’s home and say, “Sorry, you’ve gotta move. This property now belongs to the city!”

Another Reason to be SCARED of the HOA Experience!

A 40 unit apartment building in Titusville, Florida caught fire four years ago and most of the units were severely damaged. Obviously, all those in the building lost their homes. But the Bay Towers Homeowners Association is now foreclosing on dozens of displaced fire victims because they haven’t been paying their HOA dues. Apparently, even if your home is destroyed by fire, your HOA dues in some cases could technically go on forever!

One homeowner, Mike McDaniel, acknowledges he owes $8000 in HOA dues. But he says he’s now being sued for $48,000 for a place he’s not even allowed to set foot in.