Yikes! How can I say that having two brothers who are lawyers? And how can I say that after passing the LSAT and being offered a free ride through the University of Washington Law School?
I can say that as a forty-year journalist watching lawyers in court. Never trust a lawyer.
In the link below, a CAI lawyer has tried to simplify the ‘education’ process for prospective buyers. It’s a good step forward. But I like Nila Ridings idea of making all HOA home buyers sign an acknowledgement that each buyer isn’t really buying a home. He or she is buying shares of stock in a non-profit corporation where every single asset, every bank account, every stock account, every college education account is pledged as security to pay for each and every misdeed, miscalculation, embezzlement and lawsuit involving the HOA.
Egads! I can’t count the times when I’ve heard about an HOA board member or HOA manager stealing money to feed his or her gambling addiction. It’s stupid. What’s even more stupid is that 66 million homeowners across the country risk all their life savings by buying into Homeowners Associations in which embezzling is endemic. If you live in an HOA, there’s a massive chance someone you’ve entrusted with your money is chiseling.
Get out! Get out! Get out! Let the national HOA Scam collapse on itself.
(link to yet another criminal stealing your money)
Permanent link to this post
(97 words, estimated 23 secs reading time)
Madonna may decide her uppity New York co-op neighbors aren’t worth the rent. She’s suing because the co-op board doesn’t want Madonna’s kids or domestic help staying there when she isn’t physically in the building.
In the story linked below, I don’t read that she’s suing for racial discrimination, but I’d bet my last dollar that’s going to be a central point of her lawsuit. Some white folks just don’t like it when people of color are around. That’s how the whole HOA movement got started in the first place. Don’t believe me? Go look in the title history of your property deed!
guest blog by Nila Ridings
Here’s a an auditor from Pima County, Arizona who apparently opted to steal from the HOA rather than the taxpayers. Joshua Bonillas was the HOA bookkeeper for Presidio Villas 2. His day job as county auditor paid him $60,000 per year. He admits to stealing $45,000 from his neighbors via the HOA bank account by forging the treasurer’s signature on the checks.