With a sea of homes left empty by erstwhile homeowners who couldn't afford the mortgage, a number of homeowner associations around the country have are stuck having to pay for the upkeep on vacant properties lest the value of the remaining homes be harmed any further.
And these HOAs must find ways to pay for this maintenance without collecting any dues from the former tenants. That means higher dues for the remaining owners.
"There was a foreclosure unattended for such a long time with a pool so dirty it could have created a haven for West Nile virus. So we had to get a pool service to come treat it," one HOA president tells the Atlanta Journal Constitution about his organization's ordeal. Just two vacant homes in his neighborhood have cost the HOA $23K in labor and lost dues.
The HOA had hoped to recoup some losses by filing a lien against the property but Georgia law would erase any such liens — for anything from delinquent HOA dues to unpaid contractors — after the property is foreclosed on.
The President of the Georgia Bankers Association says that, before foreclosure, it's not the lender's responsibility to make sure homeowners pay their HOA dues or keep their property up to snuff. So why should the bank be forced to honor a lien for the former homeowner's debts?
The AJC reports that Florida and other states have passed laws that allow HOAs to get at least some money hack from the bank when a vacant property is finally foreclosed on.
Even so, it can still be over a year or more between the time when an owner abandons a house and when the bank finally forecloses. For HOAs to survive, they'll need to learn how little they can spend to maintain a vacant property without its appearance having too much of a negative impact on the rest of the neighborhood.
Foreclosures costing neighbors as homeowner associations pay to maintain abandoned houses [AJC.com]
What is more important is why the banks outsource the signing of documents to people posing as bank officers, who are not vested or paid by the banks, when that's a violation of banking regulations?
The answer is to conceal the greater fraud and avoid the liability to the pension funds and investors who put the money up for the Mortgage Backed Securities " MBSs " that were AAA rated and attracted pension fund managers who could invest only in AAA rated investments. It's funny that these same rating agencies, Moodys and others threaten to lower the rating of US bonds, like there judgement is controlled by anybody other than the TBTF banks, who just so happen to want our 50 state attorney generals investigation of fraud to melt away because they "PROMISE" not to violate the laws in the future, and pay a fine, out of the money they stole. Regardless of what the Supreme Court says, Corporations are not "people" and cannot be prosecuted for lying.
Hey I have a great idea! Lets follow the law. By following the law that has been on the books since the start of this country, we can come through this.
A very big problem we have is with political involvement into legal matters. Political involvement into financial matters is what allowed Wall Street & the to big to fail banks to rob every pension holder, every taxpayer, every homeowner whether they have a mortgage or not.
Our Florida governor Rick Scott addressed the Bar Association & urged them to speed up foreclosures, & "lets get back to work" & to change Florida to a non judicial state for foreclosures.
He and his co bank owned Attorney Pam Bondi are totally ignoring the law, and refusing to prosecute fraud committed by the banks, document mills, & the attorneys presenting fraudulent documents in court cases, and filed into the land record.
I sent a e-mail to Pam Bondi that her office did not acknowledged,
Dear Pam Bondi,
I am upset by your lighthanded approach to the fraud that banks and foreclosure law firms have so far gotten away with in this state.
As the chief law enforcement officer in Florida, and a member of the Florida Bar, your duty is clear. To do anything less than full prosecution on those who would, fabricate, and use fraudulent documents in court proceedings is a violation of your oath as a officer of the court, and Attorney General of the state of Florida.
We are in troubled times, and the public needs to know that the law applies to all, great and small. If rule of law, is perceived as rule of the rich, then civil unrest and revolution will be the result.
Do you think Judge Judy would rule in favor of a plaintiff or defendant who produced a fraudulent document to win their case? NO! because it would violate the ”CLEAN HANDS DOCTRINE” that no relief shall be granted to a party who engages in unlawful activity.
I ask that you do your duty.
I urge everyone to send their states attorney general a letter, fax, or e-mail expressing your thoughts about this crime of fraudulent documents being used in court proceedings, and filed in county land offices, corrupting land records, and creating a mess that will take decades to unravel.
People who have worked out a settlement with their now willing to negotiate banks, are halted in their tracks. The courts in Lee County FL are openly disregarding the rules of civil procedure, and the law itself. This is governmental anarchy, should not, and can not be allowed.
If we follow the law, some banks are going to find they have no right to foreclose, not because of what the homeowner did, but because of what the banks did not do.
Why didn't the banks follow procedure? Greed & no liability, corruption of rating agencies, the packaging of self called "bags of shit" to investors, and when they had sold all they could, they shorted the very instruments they had sold, made public the fact, then collected the insurance they placed on it"AIG".
The public knows it's been robbed, & they need to know by whom. Mainstream media is and has been controlled by the same forces that have lead us to where we are at.
The corruption you see has always been with us, just not so bold faced. When election time comes the TV is filled with 30 second sound bites usually saying something negative about the person running against the person or party paying for the spot. Few debates sponsored by the Chamber of Commerce or public television. Few watch, much less attend.
Ignorance and apathy is the damnation of our society and the direct cause of where we find ourselves. People have lost faith in this system of ours, that used to be the envy of the world. Our politicians, on every level of City, State and Federal "especially federal" knows that they are elected by the number of negative spot ad's that they can have played on television, and the number of positive billboards on themselves.
Just as Bush handing out checks to boost the economy had the same effect as running into a theater and screaming fire. Calls on my business phone dropped like a rock, “the economy was bad” was the message being put out. People who had no idea that there was trouble in the economy, because their situation had not changed, suddenly were receiving money that they were supposed to spend to help the economy. Of course retired people put that money straight into the banks, and curtailed their normal spending habits, making the economic crisis a self fulfilling prophecy.
They made a bad situation worse, and I can not accept that it was done out of ignorance of the probable result.
I have been in business here in Pinellas County Fl since 1975 at the same address, with the same phone number, and this is the seventh economic down turn I have suffered through, so I know of what I am saying.
The difference is as all these economic downturns occur we have fewer people employed in the manufacturing sector.
First Nixon opening the door to China, then NAFTA, took jobs out of America, for the profit of Wall St and the multinational corps and banks.
Our bought off leaders have sold out the interest of the American people time and time again.
As displaced workers had to enter the service sector at lower pay, our middle class was reduced in size, and purchasing power.
The retired people have been cheated by the government who have not increased their social security payments in years, while the cost of food, gas, electric bills, water bills, insurance and other expenses go up. Their investments in the stock market, that they made because the traditional CDs they used and trusted, were reduced to nothing after inflation and tax, by actions of the FED, by artificially lowering the interest rate. The way banks can go to the FED window and get money manufactured out of thin air for next to nothing, makes their life savings unimportant to the banks lending ability.
Our lawmakers are financed by the Banks, Wall Street and the Insurance industries, and the contributions and concerns of the citizens are secondary. The same influence that controls our lawmakers, has effect upon our courts and DAs, who bend and stretch the law to accommodate these industries, to the detriment of the public that they represent.
Being a supporter of the non violent overthrow of the Federal Government, and re institution and enforcement of the base constitution I agree that it is time for a cleansing.
If we want to clean up our system & improve it I have some suggestions.
The people are going to have to start voting on issues, not just for representatives
We now have a way in the computer age, to curtail this influence.
People using their social security number log on to the supervisor of elections website in their county of residence and there will be listed upcoming votes that are going before the city, “if they reside in one”county commission, state houses, and federal houses. And if 60% of this popular vote is against the bill or law, or regulation, then it does not pass, but can be brought back up for another vote in 30 days, giving the proponents time to inform the public of it’s benefits, but if it fails to receive 41% approval then it shall not be introduced for one year.
This would stop 90% of corrupt legislation that has flowed from government at every level. And it is part of our constitutional rights to have our consent recognized in this age of electronic banking and investing.
Many people are apathetic about voting because they don’t feel it makes a difference. And in the past elections since the Kennedy/Nixon days, it hasn't, because both major parties have been controlled by the same interest. When the danger of influence by the military industrial complex was given in a speech by then President Eisenhower, who warned the American people, that “We must never let the weight of there influence endanger our liberties or democratic processes, that we should take nothing for granted, that only a alert and knowledgeable citizenry can compel the proper meshing of the huge industrial and military machinery of defense, with our peaceful methods and goals, so that security and liberty may prosper together”
Of course after the Kennedy coup they have prospered, while the people fall into poverty, and despair.
The way to correct this situation is the popular vote on issues, a unwritten right granted in the constitution and worth seeking, and fighting for if necessary.
I know this was a long rant on this subject and I feel better now that I have” In the words of Pink Floyd, I have buried my bone , "and every fool knows a dog needs a home, a shelter from pigs on the wing”
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