The Horror of Homeowners' Associations
Evan McKenzie, a University of Illinois-Chicago political science professor and author of the book Beyond Privatopia: Rethinking Residential Private Government, recently explained to me that a complicating aspect of HOA disputes is that they often become personalized, "so you can't even resolve them." When board members interpret the rules to suit their own ends, homeowners often must look to the courts to enforce basic standards of accountability—and that can get expensive. "There's no training or actual requirements" for board positions, McKenzie adds, which means that the people in charge often don't understand the most basic requirements of the law. Many homeowners don't, either.
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Followed by 22 horror stories.
Saturday, August 13, 2011
The Horror of Homeowners’ Associations
Homeowners' associations were supposedly created by Real Estate God to fundraise for and oversee neighborhood maintenance, and to help developers to efficiently manage and market their properties. But it often seems that their true purpose in life is to drive homeowners insane. Governed by boards of directors—homeowners ostensibly chosen by their peers to represent the interests of their communities—HOAs are organizations that have become somewhat infamous for imposing arbitrary fines and liens on unpopular or "rogue" homeowners, making shit up as they go along, treating people unfairly, enforcing strict adherence to their rules, collecting fees, and acting irrationally or illegally. The people who sit on their boards are often petty, vindictive, utterly incompetent, and/or control-freakish.
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The horror...the horror. HOA Apocalypse Now!
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The horror...the horror. HOA Apocalypse Now!
Friday, August 12, 2011
The 10 Housing Markets That Will Collapse This Year
The real estate market is already in the deepest depression in modern U.S. history. If you think it can't get any worse, think again. In several cities, the real estate market is about to drop even more. Home values in many of those cities, such as Las Vegas, have already collapsed as unemployment has shot higher. And with no hope of quick recovery, housing prices are expected to continue to fall. 24/7 Wall St. identified ten housing markets that are expected to drop by at least another 10% by 2012.
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Home prices fell from all-time highs in 2006. Home equity tapped by second mortgages had been a tremendous source of income then for families who used it for retirement saving, education, and simple consumer purchases. Three years later, many of those homes were worth less than their mortgages. A large population of homeowners still owed a second mortgage. The burden of those two home loans happened to come at a time when national unemployment rose from 4% in the mid-2000s to 10%. The mix of unemployment and high mortgage payments ripped the home market apart.
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Note that all of those housing markets with the exception of Detroit are in Privatopia.
The economy is neurotic. Six years ago it was deluded by the irrational exuberance of a housing market that could only go up and anyone who could fog a mirror was considered a good mortgage risk, underwriting be damned. Now we've gone to the other extreme and are hoarding cash in a deflation prone economy paralyzed with fear. Unless we can find a point of moderation, the pain is certain to continue.
* * *
Home prices fell from all-time highs in 2006. Home equity tapped by second mortgages had been a tremendous source of income then for families who used it for retirement saving, education, and simple consumer purchases. Three years later, many of those homes were worth less than their mortgages. A large population of homeowners still owed a second mortgage. The burden of those two home loans happened to come at a time when national unemployment rose from 4% in the mid-2000s to 10%. The mix of unemployment and high mortgage payments ripped the home market apart.
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Note that all of those housing markets with the exception of Detroit are in Privatopia.
The economy is neurotic. Six years ago it was deluded by the irrational exuberance of a housing market that could only go up and anyone who could fog a mirror was considered a good mortgage risk, underwriting be damned. Now we've gone to the other extreme and are hoarding cash in a deflation prone economy paralyzed with fear. Unless we can find a point of moderation, the pain is certain to continue.
Why Illinois Can't Afford its Poor Dead | NBC Chicago
Why Illinois Can't Afford its Poor Dead | NBC Chicago
Illinois officials sent a letter to more than 600 funeral directors around the state to let them know there's no money for funerals for individuals on public assistance..."Now the only viable option --- I don't mean to make light of it -- is to leave the body at the medical examiner office," Szykowny said. "After 60 to 90 days they'll take the body to what's called a potter's field and bury it in a numbered grave."
Source: http://www.nbcchicago.com/blogs/ward-room/Why-Illinois-Cant-Afford-its-Dead-127534403.html?dr#ixzz1UpW6OJCJ
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Illinois officials sent a letter to more than 600 funeral directors around the state to let them know there's no money for funerals for individuals on public assistance..."Now the only viable option --- I don't mean to make light of it -- is to leave the body at the medical examiner office," Szykowny said. "After 60 to 90 days they'll take the body to what's called a potter's field and bury it in a numbered grave."
Source: http://www.nbcchicago.com/blogs/ward-room/Why-Illinois-Cant-Afford-its-Dead-127534403.html?dr#ixzz1UpW6OJCJ
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Thursday, August 11, 2011
Foreclosure filings fall for 10th straight month - Aug. 11, 2011
Foreclosure filings fall for 10th straight month - Aug. 11, 2011
The steep foreclosure drop, according to RealtyTrac CEO James Saccacio, was triggered by a foreclosure processing slowdown that was sparked by the "robo-signing" controversy last fall. As a result of the scandal, in which the banks were accused of mishandling paperwork and failing to follow proper protocols, banks are being much more careful and many filings have been delayed.
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Personally I'd like to be watching CNN one day, and see some banksters being frog-marched out the door, down the steps, across the sidewalk, and into a police car. I think that would do more to revive the economy than just about anything else.
The steep foreclosure drop, according to RealtyTrac CEO James Saccacio, was triggered by a foreclosure processing slowdown that was sparked by the "robo-signing" controversy last fall. As a result of the scandal, in which the banks were accused of mishandling paperwork and failing to follow proper protocols, banks are being much more careful and many filings have been delayed.
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Personally I'd like to be watching CNN one day, and see some banksters being frog-marched out the door, down the steps, across the sidewalk, and into a police car. I think that would do more to revive the economy than just about anything else.
Moody's warns state and local governments could see credit downgrades - Mackenzie Weinger - POLITICO.com
Moody's warns state and local governments could see credit downgrades - Mackenzie Weinger - POLITICO.com
The vicious cycle continues. This could mean more state and local government layoffs, on top of the half million that have already occurred, and that means higher unemployment and less consumer confidence. Onward we march.
The vicious cycle continues. This could mean more state and local government layoffs, on top of the half million that have already occurred, and that means higher unemployment and less consumer confidence. Onward we march.
Wednesday, August 10, 2011
Scorpions on the loose in Shenzhen -- Shanghai Daily | 上海日报 -- English Window to China New
Scorpions on the loose in Shenzhen -- Shanghai Daily | 上海日报 -- English Window to China New
A REAL estate company was suspected of releasing several thousand scorpions into apartments at a residential complex in Shenzhen to force residents to move out in order to make way for a new construction project.
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So the next time you complain about how bad your condo manager is, remember...things could always be worse.
A REAL estate company was suspected of releasing several thousand scorpions into apartments at a residential complex in Shenzhen to force residents to move out in order to make way for a new construction project.
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So the next time you complain about how bad your condo manager is, remember...things could always be worse.
Sunday, August 07, 2011
The 5 Worst Places to Retire in the U.S.
The 5 Worst Places to Retire in the U.S.
And they are in Nevada, Arizona, California, and Florida. Let's see...what do those four states have in common (no pun intended)...I had it for a moment there...processing...processing...Oh, yes. Now I remember.
And they are in Nevada, Arizona, California, and Florida. Let's see...what do those four states have in common (no pun intended)...I had it for a moment there...processing...processing...Oh, yes. Now I remember.
Man Claims Racist Reception from Royal Oaks
Man Claims Racist Reception from Royal Oaks
Williams leased a home on Stuart Manor. As time went by, things got progressively worse.
"They must be selling drugs so now, it's we're selling drugs in the neighborhood," he said.
But he said that was easy compared to his next experience: 2 weeks ago, all of his guests were denied entry into the subdivision, stopped at the front gate.
All of those guests were African American.
He went to go pick up his cousin who was walking on foot through the gate at the front of the door. That’s when he said a security guard told him the following,
“Look, I'm not allowed to let you guys in. We personally don't have a problem with you, but we'll lose our jobs.”
Read more: http://www.myfoxhouston.com/dpp/news/local/110726-man-claims-racist-reception-from-royal-oaks#ixzz1UM7Z3aqX
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One of the main reasons for creating HOAs in the US was to practice racial exclusion. Some things never change.
Williams leased a home on Stuart Manor. As time went by, things got progressively worse.
"They must be selling drugs so now, it's we're selling drugs in the neighborhood," he said.
But he said that was easy compared to his next experience: 2 weeks ago, all of his guests were denied entry into the subdivision, stopped at the front gate.
All of those guests were African American.
He went to go pick up his cousin who was walking on foot through the gate at the front of the door. That’s when he said a security guard told him the following,
“Look, I'm not allowed to let you guys in. We personally don't have a problem with you, but we'll lose our jobs.”
Read more: http://www.myfoxhouston.com/dpp/news/local/110726-man-claims-racist-reception-from-royal-oaks#ixzz1UM7Z3aqX
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One of the main reasons for creating HOAs in the US was to practice racial exclusion. Some things never change.
Democratic lawmakers launch probe of fired AG investigators | TBO.com
Democratic lawmakers launch probe of fired AG investigators | TBO.com
The two lawmakers are probing a possible connection between the terminations and Joe Jacquot, Bondi's former special counsel who left to become a senior vice president at Lender Processing Services shortly before Clarkson and Edwards were dismissed. Soto and Sobel also are raising questions about Provest, a Tampa-based mortgage servicing company that Edwards and Clarkson were investigating, and about an unnamed LPS executive who previously worked for Scott's former health care company, Solantic.
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See the story below--the probe into Florida AG Pam Bondi (Republican) and her summary firing of two AGs who were investigating mortgage fraud is heating up.
The two lawmakers are probing a possible connection between the terminations and Joe Jacquot, Bondi's former special counsel who left to become a senior vice president at Lender Processing Services shortly before Clarkson and Edwards were dismissed. Soto and Sobel also are raising questions about Provest, a Tampa-based mortgage servicing company that Edwards and Clarkson were investigating, and about an unnamed LPS executive who previously worked for Scott's former health care company, Solantic.
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See the story below--the probe into Florida AG Pam Bondi (Republican) and her summary firing of two AGs who were investigating mortgage fraud is heating up.
MortgageOrb: Content / Mortgage Servicing / Fla. AG Okays Independent Probe On Attorney Dismissals
MortgageOrb: Content / Mortgage Servicing / Fla. AG Okays Independent Probe On Attorney Dismissals
In the November 2010 election a Republican and Fox News blonde legal commentator (they have so many that it's hard to keep track of them) named Pam Bondi was elected Attorney General of the state of Florida.
She fired two AGs who were renowned for aggressively pursuing mortgage fraud. They had exemplary performance reviews and you can hear them speak about their firing.
So now Bondi says she will allow an independent probe of the firings. There is a Democratic member of the Florida House of Representatives, Darren Soto, who is talking about asking for a federal investigation.
In the November 2010 election a Republican and Fox News blonde legal commentator (they have so many that it's hard to keep track of them) named Pam Bondi was elected Attorney General of the state of Florida.
She fired two AGs who were renowned for aggressively pursuing mortgage fraud. They had exemplary performance reviews and you can hear them speak about their firing.
So now Bondi says she will allow an independent probe of the firings. There is a Democratic member of the Florida House of Representatives, Darren Soto, who is talking about asking for a federal investigation.
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