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(Sun Sentinel)   HOAs are starting to foreclose on the big banks. Nobody told me this was backwards day   (sun-sentinel.com) divider line 119
    More: Florida, subprime mortgage crisis, community association, Pembroke Pines, homeowners associations, Deutsche Bank  
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15643 clicks; posted to Main » on 12 Aug 2012 at 1:27 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-08-12 12:02:05 PM
It's like Hitler vs Stalin. Let's just sit this one out until they're both weakened enough to no longer be a threat.
 
2012-08-12 12:28:05 PM
Anthony DiMarco, executive vice president of government affairs for the Florida Bankers Association, said he's not aware of banks not paying maintenance fees on foreclosed properties.

He's also not aware that Florida gets warm weather or that gravity exists.
 
2012-08-12 12:47:27 PM
I....I....I thought HOA's were useless wastes of time. My world...up...side....down....what....*gasp*....*thud*
 
2012-08-12 01:00:03 PM
If the banks win I'll be taking notes because I hate HOAs.
 
2012-08-12 01:07:01 PM
"They expect payment from their customers, but once they become our customers, they don't want to pay us," said Marc Lebron, treasurer of the Southbridge HOA. "It's ironic, isn't it?"

Ironic? it's precisely the kind of behavior we've come to expect from those shifty bastards.
 
2012-08-12 01:15:09 PM
But wharrgarbl HOAs are TEH DEBBIL!!!111 one oen
 
2012-08-12 01:19:24 PM
As a former president and vice president of an HOA, let me say this...Banning all HOAs would be one of the most beneficial things for all property owners. The benefits they offer are greatly overshadowed by the sheer evil they perpetrate. I will never live in another area that's controlled by an HOA.

The sad thing is, the HOA I was a part of was rather benign, mostly due to the people on the board. The HOA management company on the other hand, were nothing but a bunch of deceitful snakes in the grass.
 
2012-08-12 01:30:55 PM
FTA: Deutsche Bank contends that it's only a trustee for the legal owner, investors of mortgage-backed securities. The loan servicer - a separate company that collects payments from borrowers - is legally responsible for paying the HOAs, said Duncan King, a spokesman for Deutsche Bank.

"We don't own," King said. "We are the trustee. We don't have an economic interest in the property."



Duncan King is a filthy farking liar, who killed a girl in the 1980s.
 
2012-08-12 01:33:09 PM
>Anthony DiMarco, executive vice president of government affairs for the Florida Bankers Association, said he's not aware of banks not paying maintenance fees on foreclosed properties.

If you keep your head in the sand you'll only see what you want to see. Banks have, for the most part, claimed that they do not have to pay HOA dues on properties they have foreclosed on (which is false), and if they are dragging finalizing, well...sucks to be them. The clock for the new owner starts at the time and hour of foreclosure.

They have their own rules about the health of the HOA, and now they are getting caught in it...caveat emptor.
 
2012-08-12 01:34:14 PM

John Dewey: I....I....I thought HOA's were useless wastes of time. My world...up...side....down....what....*gasp*....*thud*


HOA's are horrible, oppressive regimes for anyone who wants their neighborhood to look like an Appalachian holler.
 
2012-08-12 01:34:32 PM
I know we can't post numbers and things like that here, so I'll just post this:

https://www.db.com/medien/en/content/3862_4150.htm
 
2012-08-12 01:36:21 PM
If having the banks fight HOAs results in case law that neuters HOAs, I'm rooting for the banks.

I refuse to live anywhere that has an HOA. This means that about 90% of the properties I might consider buying are off the table, and close to 100% of anything that's actually convenient. HOAs are a cancer.
 
2012-08-12 01:36:34 PM
If the banks paid dues on all the foreclosed properties in my neighborhood we'd be able to have the pool open all week and keep the trees trimmed and lawns beautiful. As it stands now we can't even fix leaky roofs.
 
2012-08-12 01:37:47 PM

Allen. The end.: I know we can't post numbers and things like that here, so I'll just post this:

https://www.db.com/medien/en/content/3862_4150.htm


And we're supposed to do what with that personal contact info, exactly?
 
2012-08-12 01:39:50 PM
"We don't own," King said. "We are the trustee. We don't have an economic interest in the property."

So someone is paying you, Deutsche Bank, to protect their investment, and you are jeopardizing their investment. I would figure that if your failure to pay HOA fees led to the loss of property, the original property owners might sue you.

Sue you into the poor house, I'd be hoping.
 
2012-08-12 01:40:12 PM
cdn.instructables.com
 
HBK
2012-08-12 01:42:49 PM

PacManDreaming: As a former president and vice president of an HOA, let me say this...Banning all HOAs would be one of the most beneficial things for all property owners. The benefits they offer are greatly overshadowed by the sheer evil they perpetrate. I will never live in another area that's controlled by an HOA.

The sad thing is, the HOA I was a part of was rather benign, mostly due to the people on the board. The HOA management company on the other hand, were nothing but a bunch of deceitful snakes in the grass.


For some communities, HOAs are a necessary evil. For example, in condos and townhomes the HOAs are responsible for maintenance of any common areas and for making sure the exterior of the homes don't fall into disrepair.

For suburban neighborhoods, HOAs may be responsible for mowing and watering the parks and road medians.

Outside of general maintenance, HOAs are worthless pieces of garbage manned by busybody housewives and small-dicked men who feel empowered and entitled by the mere fact that they were elected to a position nobody else wanted. If you are so troubled by a garage sale sign posted for half a day that you feel the need to break it in half and put it in your trunk, you must have a sad, boring life and a shiatty job.
 
ZAZ [TotalFark]
2012-08-12 01:43:16 PM
If having the banks fight HOAs results in case law that neuters HOAs, I'm rooting for the banks.

It might make banks afraid to finance properties with HOAs. In the long term the effect is similar: there is a disincentive to form an HOA.
 
2012-08-12 01:43:44 PM
img689.imageshack.us
 
2012-08-12 01:45:12 PM
The long-term result is that banks will look less favorably on mortgages where an HOA is involved and then HOAS will need to get in touch with reality as the resale market for them evaporates.

/sounds like a win/win
 
2012-08-12 01:45:33 PM
This is like when UGA plays Alabama. The only possible good outcome involves a tragic blimp accident.
 
2012-08-12 01:46:27 PM
Man, I hope they both lose.
 
2012-08-12 01:46:56 PM
There's no one to root for in this fight. I'm getting some ice cream instead.
 
2012-08-12 01:47:31 PM

Dow Jones and the Temple of Doom: Allen. The end.: I know we can't post numbers and things like that here, so I'll just post this:

https://www.db.com/medien/en/content/3862_4150.htm

And we're supposed to do what with that personal contact info, exactly?


Oh, I dunno. Just being lazy and cranky on a Sunday, sorry.
 
2012-08-12 01:47:40 PM

Dow Jones and the Temple of Doom: HOA's are horrible, oppressive regimes for anyone who wants their neighborhood to look like an Appalachian holler. doesn't mind living next to minorities or people who actually work for a living


FTFY
 
2012-08-12 01:49:32 PM
I don't even know who to support on this one.
 
2012-08-12 01:51:57 PM
FTA: Lebron, the Southbridge treasurer, said owners in his development are paying about $260 a month. He estimates the fees would be 25 percent lower if the association didn't face so many delinquencies.

Has anyone ever lived anywhere where the fees actually went down?
 
2012-08-12 01:55:05 PM
Talk about mixed feelings, hate Big Banks and HOAs, the only ones that will make out are the lawyers, as usual.
 
2012-08-12 01:55:58 PM
I never thought I'd support an HOA, but in this case they are right.
 
2012-08-12 01:56:16 PM
I've lived in 2 communities with HOA's and I've never had a problem with them. Maybe I'm just lucky.

The only thing I ran into with my old one was I had to get approval before installing an air conditioner which took about 5 minutes of me writing a letter and having the president sign it. Then we had to make sure the unit was hidden in bushes and the wiring/piping/ducting whatever it is was covered by a fake gutter painted the color of the unit. We also added a water spigot (for some reason ours didn't have one) and we had to paint it the color of the unit. Neither of these things were a big deal and I could have cared less.

In my current one, we let our lawn go months without mowing when we first moved in because our sod was setting in and no one said a thing. Guess we're just lucky.

Of course it seems stupid that way pay $60 a month for nothing, but meh.
 
2012-08-12 01:59:03 PM
I live in a 1960's HOA with $72/yr fees.

The HOA cleans up medians, keeps the mailboxes all the same size and painted black. When people bought they agreed to a covenant to not keep boats, trailers or motorhomes on site for more than a week. Also, no HAM radio antennas.Sound evil? We get a little news letter and those out of compliance get dirty note.

FTA $25,000+ in fees for 3 years, that is farking crazy.
 
2012-08-12 02:01:56 PM
Bank to homeowner: "Ha ha! You missed a few payments now we get to keep all the payments you have made thus far and the house."

Bank to HOA: "We don't own the property! Thousands of people and entities around the world own it!"
 
2012-08-12 02:02:22 PM

HBK: For some communities, HOAs are a necessary evil. For example, in condos and townhomes the HOAs are responsible for maintenance of any common areas and for making sure the exterior of the homes don't fall into disrepair.


Yep, the HOA I was a part of was in a private town home community. We were responsible for repair, lawn/tree maintenance, garbage collection and the like. The management company was always trying to get us to enact anything that would make them money.

If someone was behind on dues, the management company pretty much had their hands tied on what they did to get their money. They wanted us to pass some new crap that allowed them to, as their representative told us "foreclose on those who are late on their dues, but it's not really foreclosure, it's actually just a lien". Nope, it was really for real foreclosure as in they could take your house from you for not paying HOA dues. Like I said, deceitful snakes in the grass.

As a side note, the only reason I was on the board is because board elections happened the month I moved in and I didn't really know what was going on. Glad I did serve on the board, though, it let me know exactly what horrible things HOAs really are.
 
2012-08-12 02:03:26 PM

PacManDreaming: As a former president and vice president of an HOA, let me say this...Banning all HOAs would be one of the most beneficial things for all property owners. The benefits they offer are greatly overshadowed by the sheer evil they perpetrate. I will never live in another area that's controlled by an HOA.

The sad thing is, the HOA I was a part of was rather benign, mostly due to the people on the board. The HOA management company on the other hand, were nothing but a bunch of deceitful snakes in the grass.


We must be neighbors! My HOA is pretty tame, but the for hire coont that managed it was a whore of Satan. She sent most of her day driving around making notes of what was wrong - the garbage man came by at 10 AM and at noon (I was at work until 6 PM) she comes by and writes us up for leaving our garbage cans outside. I talked to some of the Board members but they seemed afraid of her. Finally I got a few guys together and we went to the Board meeting and ousted here. Took a lot of research, but one of our neighbors was an ex military intel guy and another is a forensic accountant. The intel guy dug up some previous and dubious work history on her - one of the items in the Charter said that not only must paint colors be approved but the paint had to be bought from one particular store. He discovered the store was owned by her brother i law. I don't think anyone actually bought their paint there anyway, but it made for good theater. And the forensic accountant used a bunch of big words about the budget that scared everyone. Now we live peaceably amongst each other as all mankind should.
 
2012-08-12 02:03:29 PM
As much as I dislike some of the shenanigans the banks are involved in I'm gonna have to say fark the HOA with a hot curling iron lubed with sand.
 
2012-08-12 02:04:06 PM
I really don't know who to root for in this case. I agree with rwhamann, just let them take each other down while we watch. It's a better spectacle than a bug zapper and a case of PBR.
 
2012-08-12 02:11:09 PM

kidsizedcoffin: owners in his development are paying about $260 a month


For that much, I could get all my maintenance done by girls in bikinis who would also keep me supplied with cold beer.

ranchguy: Also, no HAM radio antennas.Sound evil?


No, sounds like federal jurisdiction. Most HAMs wouldn't bother to pick a fight and just live elsewhere.
 
2012-08-12 02:11:12 PM

ranchguy: I live in a 1960's HOA with $72/yr fees.

The HOA cleans up medians, keeps the mailboxes all the same size and painted black. When people bought they agreed to a covenant to not keep boats, trailers or motorhomes on site for more than a week. Also, no HAM radio antennas.Sound evil? We get a little news letter and those out of compliance get dirty note.

FTA $25,000+ in fees for 3 years, that is farking crazy.


I'd hate to live somewhere where mail boxes could be different sizes. Nothing repels socialism like mindless submission to authority.
 
2012-08-12 02:12:36 PM

Rozinante: kidsizedcoffin: owners in his development are paying about $260 a month

For that much, I could get all my maintenance done by girls in bikinis who would also keep me supplied with cold beer.


I never realized that was an option.
 
2012-08-12 02:12:46 PM
The most hilarious thing about HOAs is that they're government in every meaningful sense of the word, largely set up by people who claim to hate government.

The IRS will come a-knockin' if you don't pay your income taxes, but they won't try to take away your house if it's painted the wrong goddamn color.
 
2012-08-12 02:14:51 PM

ranchguy: I live in a 1960's HOA with $72/yr fees.

The HOA cleans up medians, keeps the mailboxes all the same size and painted black. When people bought they agreed to a covenant to not keep boats, trailers or motorhomes on site for more than a week. Also, no HAM radio antennas.Sound evil? We get a little news letter and those out of compliance get dirty note.

FTA $25,000+ in fees for 3 years, that is farking crazy.


I doubt that it is on just one house, Albert.
 
2012-08-12 02:16:32 PM
banks will just pass on the anal rape onto us....so I hope banks win!
 
2012-08-12 02:17:24 PM
Ooh, an HOA AND big banks thread. *gets popcorn*
 
2012-08-12 02:18:49 PM

rwhamann: It's like Hitler vs Stalin. Let's just sit this one out until they're both weakened enough to no longer be a threat.


I like the way you think.
 
2012-08-12 02:21:03 PM

coco ebert: *gets popcorn*


If you leave any unpopped kernels or the bag/bucket in this thread, you will be charged $500 and Fark closed to your account.
 
2012-08-12 02:21:24 PM

kidsizedcoffin: FTA: Lebron, the Southbridge treasurer, said owners in his development are paying about $260 a month. He estimates the fees would be 25 percent lower if the association didn't face so many delinquencies.

Has anyone ever lived anywhere where the fees actually went down?


Ours went down from $200/yr to $150 last year. More houses were added to the development and they brought the price down.
 
2012-08-12 02:21:38 PM
Laugh at the rattlesnake killing the rabbit. That's funny until it bites your child.
 
2012-08-12 02:23:03 PM

Rodeodoc: PacManDreaming: As a former president and vice president of an HOA, let me say this...Banning all HOAs would be one of the most beneficial things for all property owners. The benefits they offer are greatly overshadowed by the sheer evil they perpetrate. I will never live in another area that's controlled by an HOA.

The sad thing is, the HOA I was a part of was rather benign, mostly due to the people on the board. The HOA management company on the other hand, were nothing but a bunch of deceitful snakes in the grass.

We must be neighbors! My HOA is pretty tame, but the for hire coont that managed it was a whore of Satan. She sent most of her day driving around making notes of what was wrong - the garbage man came by at 10 AM and at noon (I was at work until 6 PM) she comes by and writes us up for leaving our garbage cans outside. I talked to some of the Board members but they seemed afraid of her. Finally I got a few guys together and we went to the Board meeting and ousted here. Took a lot of research, but one of our neighbors was an ex military intel guy and another is a forensic accountant. The intel guy dug up some previous and dubious work history on her - one of the items in the Charter said that not only must paint colors be approved but the paint had to be bought from one particular store. He discovered the store was owned by her brother i law. I don't think anyone actually bought their paint there anyway, but it made for good theater. And the forensic accountant used a bunch of big words about the budget that scared everyone. Now we live peaceably amongst each other as all mankind should.


that's a hell of a team you had there to oust the old bitty. it sounds like all you were missing were a master of disguise and a likable black muscleman with an afro mohawk...

i jest, but glad to know some people are winning against HOA's. I don't have one myself, and I am having a hard time finding a new place that isn't spoiled by one.
 
2012-08-12 02:24:42 PM

kidsizedcoffin: Rozinante: kidsizedcoffin: owners in his development are paying about $260 a month

For that much, I could get all my maintenance done by girls in bikinis who would also keep me supplied with cold beer.

I never realized that was an option.


Now I had to look it up.

One place in Kansas City:
Mowing Service- $75 per 1/4 acre which includes: mow, weed eat, and remove grass from sidewalks and driveways. Bagged grass add $10.

Another place in Arkansas: $45 weekly. That's almost worth it.
 
2012-08-12 02:24:44 PM
Anyone know what Sherman is up to? He could solve this problem.
 
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