If a $300,000 house sells for $135,000, is it really a $300,000 house?
That’s probably how much equity they paid in. Real market value wasn’t determined here, as the HOA sold (probably to somebody they knew) for pennies on the dollar. The flipper just wanted to move the house, because, why wait in a tight market when you can just reap over 100K profit, and likely took the very first low-ball offer made.
I pit people who over-use the term fascist.
“Fuck Hoas”
I love the way you Bostonians talk.
I thought it was the new Vietnamese restaurant, Phuc Dat Hoa!
Pho King Hoas.
Well either way they’re un-American. And they are most certainly dicks.
Not that what the HOA did wasn’t shitty or anything, but what excuse did these folks have for not paying their HOA fee? I mean, if their house is paid off, I’m going to assume they’ve been paying that HOA fee for a long while.
For what it’s worth, I live in an HOA and I realize that if I don’t pay a fine or my monthly fees, them auctioning off my house is a very real possibility. I’ve read the HOA handbook, perhaps these folks should have, too. (I hate my HOA, if makes a difference- I just know their rules)
If you would bother to read the article, the house was fully paid off.
Plus, the foreclosure was illegal. There is a law forbidding this type of foreclosure for active military. I would also strongly suspect that the person on the HOA selling the house and the original purchaser were not strangers. I believe the story said that there was not a lot of effort to get the best prices.
It makes me wonder what the Texans are doing with all those guns. This sounds like something which needs a dose of frontier justice.
Nevermind.
Yeah. But some people are patriots.
Can somebody explain to a foreigner what the HOA is/does etc?
Cheers.
From what I’ve gathered in other Dope threads, it seems to be something like a Body Corporate, except for a neighborhood of houses rather than a block of flats or units.
They take your money every month to ensure that there are no loud dogs and shit in the neighborhood, and that lawns are mowed up good and shit, and that the water and sewer system is all licensed up and shit, and that they have plenty of HOA letterhead.
Some other shit too, but you get the gist.
Please, please, PLEASE don’t encourage the gun nuts. They don’t need any encouragement.
Last summer we had the shutters and front door of our condo painted. (One of the HOA regulations is that exteriors of units should be repainted when the paint fades.) Shortly thereafter, we received a letter stating that an unnamed neighbor had alerted the HOA that we had undertaken an “unauthorized architectural change” in the paint color we used. (The previous color was dark blue; the replacement color was dark blue.)
I wrote the HOA and asked them what color it needed to be— we can’t *tell *you that, they said; you need to submit paint samples to the board for approval. I submitted several samples that were virtually indistinguishable from each other and from the “unauthorized” color. They responded with an approval of one of the identical colors, we slopped dark blue paint atop dark blue paint, and all was again right with the world.
That summarizes my HOA experience.
This is an extreme representation of HOA’s. While I’m not a fan of local government telling me what I do or can’t do with my house or yard, I’ve seen plenty of reasonable HOA’s too, like the one I currently live under.
I feel the same damn way. When I moved into my place I asked a few very clear and simple questions…
Are there any CCRs - conditions covenants restrictions.
Is there a home owners assoc or block assoc.
Are there any limitations or zoning quirks.
The answers were all “no”. Since then, a block association has been started up. I did not join, I have nothing to do with them, I do not interact in any way with them. I never will. Fuck them.
Well, the flip side of crazy HOAs is asshole neighbors outa control…so you pays your money and takes your chances either way…