Las Vegas HOA collection agencies sue critics - Monday, March 21, 2011 | 5:09 p.m. - Las Vegas Sun: "New allegations of wrongdoing are flying pitting Las Vegas-area collection agencies for homeowner associations against homeowners and investors in foreclosed properties."
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Thanks to Cynthia Stephens for this link.
Relating to HOA "collection costs," and some "practices," employed, I thought you may like to see a portion of blog from citidata, Austin....
ReplyDeleteThis is just an excerpt, but it gives the reader some insight of the horrible practices, some in this industry will utilize.
Entire conversation:
http://www.city-data.com/forum/austin/557602-hoa-foreclosure-questions.html#ixzz1HNS9PwT6
"Default HOA Foreclosure Questions
Recently at a business social I met a man who said he made a living
buying HOA foreclosures. He said he bought HOA foreclosure homes at
auction, then immediately phoned the bank notifying them of his
purchase and they turned around and cut him a check for 25% of the
mortgage value. Is this true? I thought the property owner had a right
to reclaim the property prior to 180 days as long as they paid HOA
fees, attorney fees and reimburse the auction purchaser. Did I just
misunderstand what he was trying to say. Thank you to anyone who
replies.
Unread 02-04-2009, 04:46 PM
miokie
Senior Member
Join Date: Dec 2007
162 posts, read 180,084 times
Reputation: 85
In Texas, there is no right to redeem property any type foreclosure
other than unpaid taxes (for which the redemption period is 2 years).
- What you need to know about home foreclosure"
Rest will be on next post due to character limits on the blog.
Dr. McKenzie, there were three parts to this post, because of the character limitations. I can resubmit the other two, if necessary.
ReplyDeleteDefendants in the suit filed in Clark County District Court include Puoy Premsrirut, a Las Vegas attorney who regularly litigates against collection agencies. She and her brother Rutt Premsrirut also were sued in their capacities as investors in foreclosed homes.
ReplyDeleteAnother SLAPP (Strategic Lawsuit Against Public Participation) ignored by Overlawyered.com, a web site that claims to be "chronicling the high cost of our legal system."
overlawyered.com/?s=SLAPP
www.google.com/search?q=Premsrirut+site%3Aoverlawyered.com
Your search - Premsrirut site:overlawyered.com - did not match any documents.
Their slogan should be "Chronicling the high cost of our legal system -- except for those costs imposed by HOA corporations and their collections attorneys against individual home owners."
But then, their solution to that problem is to do away with the seventh amendment...