Mortgage Servicers Latest Troubles: Homeowners Association Fees - American Banker Article
Florida is the "lion's den" when it comes to problems with homeowners associations, says White, who has seen HOA fees in excees of $100,000. He estimated that 15% of properties with an HOA have some type of "escalated issue, whether it's the HOA actually foreclosing or charging junk fees or holding the bank liable for assessments before they were responsible for the property."
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It seems that condos and HOAs, and their lawyers and managers, are getting a bad reputation with a wider circle of people. Now the mortgage servicers are getting fed up with the grasping behavior that has long aggravated many home owners.
Thanks to Fred Pilot for the link.
1 comment:
Gosh, so some are finally "waking up?" Could it be because it is costing them outrageous extortion monies too? Well, talk to the homeless victims to one of these groups who owed no monies, had no contract with those who made the allegations, in fact just the opposite. The victimized homeowners have been speaking out for years and begging for legitimate investigations in many locales. I believe, in many cases these should be criminal investigations, the perpetrators made to compensate their victims and serve some time! Where have these "bankers," been for 8-10 years, beside ignoring the victims who came to them seeking help???
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