Wednesday, August 15, 2012

Your home, their rules

Charleston Regional Business Journal | Charleston, SC
This link goes to some stories by Matt Tomsic that deal with HOAs generally and also with their power to foreclose.


Anonymous said...

from one of the stories:

“While it seems like it’s a very harsh thing to do, the thing is, it’s very effective,” said Jim Laumann, the president of Homeowners Association USA.
. . .
Laumann said homeowners who fall behind need to be proactive in addressing the debt because late fees, interest and other costs can add to the homeowners debt, making it more difficult to catch up on the mounting debt.

“Once it’s turned over to an attorney, the fees exponentially go up,” he said. “As a homeowner, you don’t want to allow it to get to the attorneys because the dollars get bigger, and it’s more difficult to resolve.”

Anonymous said...

This writer did an incredible job on this "issue," when he was with the Star News in Wilmington, NC.
Please see the following:
"Matt Tomsic, former writer for the Star News, Wilmington, NC did an excellent job on this and every court house should be investigated in the same manner. If no one has told this reporter, "thank you," for doing your job so well!"

"The New Domestic Violence," "HOA Syndrome, LAS, etc...for sure, more than likely, in far too many of these cases.
By the way, the associations foreclosing article, below, the 125 that were legitimately located in the courts...Well how many ADDITIONAL do you think were taken that were not reported? Just these 125, do you have any idea how much money is involved here?
Questionable, absolutely questionable, and there is no way to verify the property owner ever owed anything! Created conflict, selective targeting, discrimination, fabricated enforcement, farming...for extortion and homelessness.

Quote from the article:
""Hamilton said she considers it inappropriate for a volunteer-based organization to have the power to foreclose. Associations are governed by a board of homeowners who live in the neighborhood and are elected to be on the board. Generally, Hamilton said, boards consist of people who do not have the professional background to make foreclosure decisions."
Susi Hamilton, Representative New Hanover County, NC

Homeowners Associations stepping up legal pressure with foreclosures

Entire article: