If you believe that, then you’re visiting the wrong shrink!
No, Your HOA absolutely does not protect your property values. Your HOA is there to keep track of your net worth. Your net worth (not just your home value) is pledged to a community pool which can be used whenever necessary to cover the cost of lawsuits, repairs, maintenance, insurance, embezzling board members.
All neighborhoods age, that’s just a fact of life. But developers get special breaks for cramming more homes into smaller spaces, and often those developers are just self-centered and financially motivated to cut corners. Meanwhile, building inspectors look the other way knowing it’ll be years before construction problems start becoming apparent.
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But My HOA Protects My Property Values!
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It looks like our side won a small but significant legal battle. A federal judge has ruled that a debt collector’s law firm can be held liable when it presents false information received from the client. The debt collector had inflated its claim against a homeowner by thousands of dollars, the same thing HOA debt collectors do all over the country. Finally! Finally, a law firm gets smacked for false representation!
Now we need a case where the HOA itself is also found liable for hiring crooked debt collectors who use crooked lawyers.
(link to law firm that wins legal ruling)
I’ve written about this before. But here’s another great column from the Aspen Times. Wages are so out-of-control in this Eastern Hollywood Town, that the City of Aspen is using taxpayers’ money to pay for the maintenance of Homeowners Associations where all the ‘low-income’ workers live. The whole system is warped in more ways than can be easily discussed. But the columnist linked below does a pretty good job.
Homeowners Associations are a national scandal waiting to burst. But making the taxpayer pay the cost of keeping this scam going is just stretching the imagination too far.
Egads! I’ve never met Sara Benson, never even talked to her on the phone, but I’d have an affair with her in an instant, if she’d agree! (Yep, I’m not very classy, but I’m sincere!)
This incredible Illinois Realtor has discovered that up to 80% of Illinois Homeowners Associations are unknown and untracked by the state! The implications are massive. It means that huge numbers of Americans have signed away their access to rights conferred by the U.S. Constitution by buying homes in private corporations where they’re lying naked in front of all their fellow homeowners. They think they’ve bought private homes, but what they’ve actually bought is shares in unregulated corporations in which they can be taxed, liened, sued and bankrupted with their life savings going into a common pot owned by all their fellow neighbors.
My job is just too easy. Lots of people read this blog site and you’d think I’d struggle to come up with a new subject each evening. But with people around the country gradually waking up to the HOA scam there are stories everywhere about out-of-control Homeowners Associations.
The link below deserves reading. It’s a tiny Homeowners Association in Arizona that suddenly decided it needed two lawyers and a security guard at its annual meeting. The HOA hired a new management firm which is fining homeowners for a bizarre range of ‘violations.’ So homeowners suddenly have to pay fines, pay for unneeded lawyers and an unneeded security patrol just to make sure nobody protests the hiring of such people.