Neighbors are forcing neighbors into foreclosure: "IRVING, Texas (AP) - Thousands of Americans who have generally kept up with their mortgages are still in danger of losing their homes because they made a fateful trade-off in this shaky economy—they let their homeowner association dues slide... Gauging the number of foreclosures nationwide by homeowner association is difficult. But in Texas, foreclosure attempts initiated by homeowner associations in 19 counties are up 30 percent from two years ago, according to Dallas-based Foreclosure Listing Services.
In the San Antonio area alone, foreclosure actions by homeowner associations jumped to 170 in April from 21 in April 2008, according to RexReport.com.
In Florida, attorney Bob Tankel, who represents hundreds of homeowner and condo associations, said he has increased his staff from three to 16 in the past 18 months to handle a mounting caseload of 3,500 open collections. About one-fifth of those cases have reached foreclosure, he said.
In California, Schlegel said more than 6 percent of the homes that his company manages are in some stage of delinquency with regard to membership dues, up from around 1 percent in previous years. "
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There are some numbers for you.
2 comments:
This is one of the downsides to the privatization of local government. One can also lose one's home in a tax sale if property taxes go unpaid. However, the county may not hold the sale until a some years have gone by.
By contrast, HOA foreclosures operate on rapid timetable like mortgages and in some states -- as with mortgages -- can even proceed as nonjudicial foreclosures without court approval.
Dear Fred Pilot,
You are so right. Most people and many attornrys have no clue of what a nonjudicial foreclosure is. I personally believe that an HOA/COA,T-HOA, have no right to use this avenue. I trust it is more than likely not legal, but somehow are getting away with it. The worst are the abusive boards and their associates who fabricate assessments, charges, whatever to foreclose upon vulnerable populations. Where is the protection for these people, when they are being abused in such a way? Those abusing need to be charged for their criminal acts and their victims rectified.
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