20 forced from condo complex deemed uninhabitable | WPRI 12 Eyewitness News
"WOONSOCKET, R.I. (WPRI) — Twenty people were displaced from their homes Tuesday after a Woonsocket condominium complex was declared uninhabitable, and the city is now threatening legal action if the building is repaired. Many residents have called the Social District Condominiums home for years, but Tuesday was the last day they were allowed to stay in the three-story, six-unit building. Some were able to find another place to stay while others are having a hard time finding a new home. “I just need an apartment for me and my babies,” said Merlin Jackson. “Put a roof over their head. That’s what I’m concerned about and that’s what I want.” City Solicitor Michael Marcello said the building had more than $3,000 in unpaid water and sewer fees. Trash could be seen piling up outside, creating a fire hazard, and squatters were known to live there."
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Another busted condo project. Nobody knows how many there are. I know that here in Chicago there are at least 200 that came to the attention of the city. There are hundreds in Florida, probably hundreds in Nevada.
4 comments:
The ANSWER Evan is to quit supporting or trying to "fix" condominiums as you continually try to do under the pretext that they are fixable. They are not. This is a doomed form of ownership and when it goes lots of people are harmed. The conduct of management companies and HOA attorneys and the laws they promoted only accelerate financial ruin for owners. This is not a viable form of housing and the fastest way to put an end to it is to eliminate the secondary market for loans secured by new condominium units.
“This is not a viable form of housing and the fastest way to put an end to it is to eliminate the secondary market for loans secured by new condominium units.”
At the federal level, agencies which subsidize housing — the F.H.A., F.H.F.A., V.A., etc. - should refuse to provide/guaranty mortgages for H.O.A.-burdened property. But that will never happen.
Like our federal policy-makers, our state and local policy makers simply don’t care, and are utterly clueless about what is actually going on. For example…
The Madison Hill H.O.A. corporation — Colorado H.O.A. #25559, which governs a 183-unit townhome complex in Westminster near US 36 and 92nd and Sheridan — is on the verge of bankruptcy. There was a meeting last week (Feb. 24) to discuss this. I know that at least one of the home owners invited her federal, state, and local elected representatives to attend. None of them did.
U.S. Senator Cory Gardner (Republican) told her “that HOAs aren't federally regulated so this matter isn't in his jurisdiction”.
Colorado State Senator Laura J. Woods (Republican) advised a constituent living on a fixed income to “contact a lawyer”. It is absolutely disgusting. Here is what Senator Woods had to say about the impending housing crisis that is currently unfolding in her district:
From: Laura Woods < senatorlaurawoods@gmail.com >
Date: Mon, Feb 8, 2016 at 3:56 PM
Subject: Re: Westminster Homeowners Association Facing Bankruptcy
I am forwarding your email on to Constituent Services here in the Capitol.
If they have any resources or information, I know they'll forward it to you and me.
This sounds somewhat fishy, but I'm not sure what to think at this point.
I will put the meeting on my calendar, but whether I can attend or not will be based on what else hits my calendar that evening and demands my attention.
Have you contacted a lawyer and asked for a legal opinion? Not a bankruptcy lawyer, but a business or a lawyer who specializes in HOAs?
It's shocking to me that an HOA can say, "Pay 85% more or file for bankruptcy."
THanks!
Failing and nearly failing condominiums have become the new privatized, severely dysfunctional "affordable housing" or "low income housing" substitute for public housing projects. They have become a collection of clueless or irresponsible landlord owners that do nothing more than collect rent checks and taxpayer funded subsidies.
Eventually, even those kind of "homeowners" abandon ship, and the condominium becomes a place for squatters, substance abusers, and criminals to hide out in plain sight.
And CAI and NAR are now pushing for FHA to reduce its required owner-occupancy ratio for condominiums from 51% to 35%. Tell me, how in the world that will ever increase homeownership by owner-occupants in the long run?
"Colorado State Senator Laura J. Woods (Republican) advised a constituent living on a fixed income to “contact a lawyer”."
The home owner in question just sent me an e-mail with this:
"Senator Laura Woods never responded back to the follow-up email I sent her, though she states in her motto to be 'defending the vulnerable ... the unborn, the elderly, the abused and the exploited.' I guess I am not elderly and exploited enough."
Shortly after learning about the impending bankruptcy of an H.O.A. corporation in her district that threatens 183 families and dismissing a constituent's concerns as "somewhat fishy", Colorado State Senator Laura J. Woods (Republican) voted to kill SB16-082, "HOA Whistleblower Protection". See www.abouthoas.org/?p=12850
CO: HOA Whistleblower Protection Bill Killed in Senate Committee
posted on March 9, 2016
Yesterday [March 2nd], Senate Bill 16-082 (“SB 82”) was killed in the Senate Business, Labor & Technology Committee (“Business Committee”) by the Republicans on a party line vote. As you will recall from an earlier blog posting, Senator Morgan Carroll introduced SB 82 to protect folks living in HOAs from retaliation when they report an alleged violation of their association’s governing documents or seek to enforce their rights under Colorado law.
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