|
|
![]() ![]() |
|
Thread Tools | Display Modes |
![]() |
|
....
Join Date: Apr 2009
Location: Somewhere Kansas
Casino cash: $19445
![]() |
Payback! Hundreds of Homeowners Associations Threaten Banks with Foreclosure
http://www.alternet.org/activism/pay...ks-foreclosure
In Florida, banks who slack on maintaining their properties are getting a taste of their own medicine. December 26, 2012 | It’s payback time—literally. In Florida, hundreds of homeowner and neighborhood associations are foreclosing on banks that have failed to upkeep their repossessed properties, according to—of all things— a CNN Money report. Florida is one of the states hardest hit by foreclosures, and there are nearly a half-million foreclosed houses now standing vacant and often slowly deteriorating. When a bank forecloses on a house, evicts the family and then repossesses the property, it also assumes responsibility for maintaining the home and yard and paying homeowner or condo association fees. Yet, some of the nation’s largest and richest banks have been unable or unwilling to upkeep their properties—prompting neighbors across Florida to declare enough is enough. One Miami lawyer, Ben Solomon, has filed more than 1,000 liens against banks for failing to maintain their properties or pay their homeowner association fees. And when the recalcitrant banks don’t comply, Solomon slaps them with a foreclosure notice—131 thus far. The push to hold banks accountable for their properties isn’t simply sweet justice against the world’s worst neighbors. Unmaintained properties create a host of problems for the surrounding neighborhood—problems that Bank of America, JP Morgan, U.S. Bank and other major Wall Street institutions are going to have to start dealing with if they want to continue foreclosing on and repossessing millions of homes across the United States. First off, an unmaintained property drives down the values of all surrounding homes, further putting neighboring homeowners at risk of default. (Multiple studies have shown that underwater homeowners are more likely to default than those who do not owe more on their mortgage than their homes are worth.) Secondly, vacant, foreclosed homes increase crime, adding an extra expense for strapped city budgets and putting the whole neighborhood at risk. Third, in neighborhoods homeowners associations, other families end up paying extra for things like water and garbage pickup because major global corporations like Deutsche Bank can’t even pitch in their fair share of the community expense. Adding insult to injury, banks are far more likely to leave properties unmaintained in neighborhoods of color, according to a report by the National Fair Housing Alliance. Solomon has already won tens of thousands of dollars from some of the nation’s largest banks—and even foreclosed on one mortgage servicing company, NovaStar, for failing to maintain its house in the Keys Gate Community Association in Homestead, Florida. Laura Gottesdiener is a freelance journalist and activist in New York City. |
Posts: 26,527
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#2 |
Has a particular set of skills
Join Date: Dec 2003
Location: On the water
Casino cash: $39727
![]() |
Seems reasonable to me. Everyone else has to maintain their property or else. Why should they get a free pass?
|
Posts: 59,970
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#3 |
Bucs, Pats, Noles
Join Date: Apr 2006
Location: None of your business
Casino cash: $70063
|
...and Homeowner Associations want to amend their agreements for automatic fee increases every year.
__________________
![]() “Preventive war was an invention of Hitler. I would not even listen to anyone seriously that came and talked about such a thing.” ~ Dwight D. Eisenhower |
Posts: 98,356
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#4 |
Space Cadet and Aczabel
Join Date: Aug 2000
Location: Kansas City, Mo, USA
Casino cash: $43375
![]() |
Especially them.
__________________
Thanks, Trump for the civics lesson. We are learning so much about impeachment, the 25th Amendment, order of succession, nepotism, separation of powers, 1st Amendment, obstruction of justice, the emoluments clause, Logan Act, conflicts of interest, collusion, sanctions, oligarchs, money laundering and so much more. |
Posts: 39,422
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#5 |
Veteran
Join Date: Aug 2012
Location: Alaska
Casino cash: $13639
|
Awesome.
Posted via Mobile Device |
Posts: 2,275
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#6 |
Seeking the Truth daily
Join Date: Jan 2006
Location: In the Country in MO
Casino cash: $34409
|
If people were not dirtbags, home owners associations wouldn't be needed. People are pigs.
__________________
Frazod to KC Nitwit..."Hey, I saw a picture of some dumpy bitch with a horrible ****tarded giant back tattoo and couldn't help but think of you." Simple, Pure, Perfect. 7/31/2013 Dave Lane: "I have donated more money to people in my life as an atheist that most churches ever will." Come home to Jesus Dave. Come home. |
Posts: 41,673
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#7 | |
Debunking your bullshit
Join Date: Aug 2002
Location: KC area
Casino cash: $63575
|
I thought they existed for the sole purpose of not allowing people to fly outrageously gigantic flags.
__________________
![]() Quote:
|
|
Posts: 38,387
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#8 |
Crushing your Hopes & Dreams
Join Date: Apr 2006
Location: baldeaglepoker.com
Casino cash: $41341
|
Yeah yeah yeah these banks are such villains for kicking ppl out for not paying for the loan they agreed upon. Reallllllly difficult to upkeep the property to tip top shape when you have so many low lives defaulting on their loan and destroying the property before they move out.
I disagree with HOAs in general. I get they will be successful at keeping property values higher than if no HOA was formed but at any time if you live in one of these communities they can change their rules to whatever they want just because of an influential member. I had a buddy buy a house out of college and he was planning to rent a couple rooms out to friends that were recent college grads. When he did this they all had a fit in the community that he was renting rooms out and his lifestyle didnt fit their family image. They changed the bylaws to not allow more than one boarder and my buddy had to sell the house because he was counting on the rental income to help pay for the home.
__________________
Who wants free money? Use the link below to sign up at Bovada, BetOnline, Black Chip Poker and Ignition. Contact me for private deals, spot bonuses, possible rakeback or any questions! THERE IS CURRENTLY A $500,000+ Bad Beat Jackpot at BetOnline! Sign up so you don't miss out. Bovada, Ignition, BetOnline, Black Chip Poker: baldeaglepoker.com Bovada Poker is back! Get up to $500 poker deposit bonus. Last edited by BWillie; 12-30-2012 at 04:10 PM.. |
Posts: 23,061
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() ![]() |
Thread Tools | |
Display Modes | |
|
|