December 1, 2013 |
Question: A majority of titleholders want to abandon our present homeowners association. Several thousand homes were to be built in our new subdivision, but fewer than 60 have been purchased. There were supposed to be five phases, but the builder stopped at phase one and won't finish the development. When we purchased our homes, we asked to see the association's governing documents, rules and covenants, conditions and restrictions; nothing made sense to us. Had we understood what a developer-controlled association meant, most of us would not have purchased our homes here.
November 23, 2013 |
Chicago Bulls point guard Derrick Rose is out indefinitely because of torn cartilage in his right knee that will require surgery, team officials said Saturday. The former NBA most valuable player had an MRI exam in Los Angeles on Saturday and was found to have a medial meniscus tear, which he suffered during a game at Portland on Friday. Rose sat out last season recovering from a torn anterior cruciate ligament in his left knee. The timetable for his return this season was not immediately clear.
October 13, 2013 |
Question: I received notice for a homeowners association hearing, stating my 19-year-old son was cited for smoking marijuana in the association's parking lot with some other young people. No police were involved or called by security or management. My son denies the charge. He was cited by an association security guard who himself partakes in the drug culture. As owner of our unit, the "citation" went to me so I attended the hearing. I asked the security guard if he could identify my son and how he knew it was marijuana being smoked as there was no police report or lab tests.
August 23, 2013 |
Question: Looking to buy a home, we found a single-family residence only to learn it had a homeowners association, so we looked at condominiums. Each had different documents. With the HOA fees on top of our mortgage payments, the house and condo became unaffordable. We want to buy that house but don't want to be part of the association. Can we remove it from the HOA? We're not understanding the concept of these developments and associations. We're at a loss what to look for when buying property.
May 31, 2013 |
Question: Our homeowners association is hemorrhaging money at an alarming rate, and the president tells owners he moved all reserve money elsewhere to avoid a potential judicial judgment from attaching it. Under management's influence, he invested it all in an assessment recovery firm, claiming the association receives a very high return on our investment. He said management invests in the same firm. This firm has been unrelenting in its voracious targeting of titleholders utilizing liens, fees, penalties, interest, threats of foreclosure.
April 28, 2013 |
Question: Even with an annual income of more than $2 million, our association is in a big mess. There's a several-million-dollar loan inclusive of our reserve account the association is paying off that has a variable interest rate currently at 6.85%. The association can't touch the reserves because the bank says it's garnisheed as collateral for the loan. The board says we have to pay this money back because the bank is holding our reserve account hostage. If it is borrowed and we can't touch this high-interest money, can the association just give it back?