It’s about time: HOA Property Solutions under AG investigation in FL

By Deborah Goonan, Independent American Communities

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Michael Chancey, his uncle Jimmy Chancey, and father Ralph Chancey have been notorious for their shady real estate practices since the bust of 2008. The family has made a lucrative business of acquiring homes at HOA foreclosures for a mere fraction of their market value. The Tampa Bay Times has reported that the Chancey family and affiliates acquired deeds for a few thousand dollars apiece, for properties worth hundreds of thousands, even millions of dollars.

After taking title to these homes, the LLC companies would lease them to tenants and collect the rent until the banks finally foreclosed on them. However, quite often tenants would hand over a deposit and sign a lease, only to find out a month or two later that they must vacate following the lender’s foreclosure.

Michael Chancey founded HOA Property Solutions in 2012. According to the Tampa Bay Times article below, the company originally worked with HOAs to obtain deed transfers to his company, promising to pay HOA assessments and split the rent with the Association. Later on, Chancey bypassed the Association and was able to convince dozens of owners to quit claim deeds to HOA Property Solutions. The owners were allegedly misled into believing that they would no longer be responsible for paying their mortgages or HOA assessments. Homeowners later learned that was not true.

It turns out that, according to records, HOA Property Solutions did not honor its promises to pay HOA assessments, either.

These are the circumstances that have finally led to an investigation of deceptive business practices.

The question is, what took so long?

Unscrupulous practices of HOA Property Solutions have been ongoing since 2012. Why did it take four years to Pam Bondi to begin an investigation?

And what about all the other fraudulent and unconscionable HOA foreclosure acquisitions, and invalid lease agreements that occurred prior to establishment of HOA Property Solutions? Is it not just as unfair to acquire a $1.2 million home for about $10,000 at a foreclosure auction for a homeowners association, and then lease that to unsuspecting tenants, who are then evicted and displaced shortly after they move in?

Readers please note that similar HOA foreclosure deals have been going on for years all over the U.S., not just in Florida.

But, to Bondi’s credit, at least one AG in one state is finally willing to do something about it. Let’s hope this is the beginning of a new trend toward investigation of HOA foreclosure and landlord-tenant fraud across the nation.

 

Florida Attorney General Pam Bondi’s office investigating Tampa property company

Now there are signs that Florida Attorney General Pam Bondi’s office is finally taking a hard look at what one real estate expert calls an “unscrupulous scam.”

The office confirmed this month that it has an “active consumer protection investigation” into at least one of the companies, HOA Problem Solutions of Tampa. It recently issued subpoenas for company records under a statute that outlaws unfair, deceptive and unconscionable business practices.

http://www.tampabay.com/news/business/realestate/florida-attorney-general-pam-bondis-office-investigating-tampa-property/2272464

 

 

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4 Replies to “It’s about time: HOA Property Solutions under AG investigation in FL”

  1. You are missing a big piece of the fraud. When these properties finally do go to auction on the county foreclosure sites, they use fake bidders that walk away from actually buying the properties…thus keeping the homes in foreclosure for an extended period. These fake bidders also end up driving the bid price way up, so sometimes unsuspecting real bidders end up buying a useless second lien for thousands of dollars. The Chancey’s then show up in court to claim the surplus (difference between the second lien and the final bid price).

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  2. Aren’t the real bad guys here the HOA’s themselves and the unscrupulous lawyers that rack up all of the fees to begin with. If the HOA’s weren’t so keen on making a buck, the owners could stay in their homes!! No business left for the real estate scams.

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    1. CHRIS WE ARE DEALING WITH THE HOA PROBLEM SOLUTIONS. THE HOA SHULD HAVE RIGHTS TO THE PROPRTY. I LIVED A IN A CONDO, NCE WHERE PEOPLE WHERE FORECLOSING AND IT RAISED MY CONDO DUES, HE CHANGES CORPORATIONS ALL THE THME ITS HARD TO KEEP UP. HE RENTED A HOME TO US SITTING IN THE COURTS RIGHT NOW GETTING READFY TO GO TO AUTIOON. I CANT EVEN SHORT BUY IT. READ FLORIDA STATUTES. HE HAS CLOUDED THE DEEDS THE PROPERTIES ARE UNDERWATR. ECT. DO YOUTHINK WE WOULD HAVE DONE RENTED A PROPRTY IN A COURT CASE!!!!!!!! NOW THE LAWS CHANGED BY RICK SCOTT HE TO HAD TO CHANGE STATE LEGISLATION BECAUSE THE FEDERAL GOVERMENT DROPPED THE BALL ALLOWING PEOPLE TO STAY AFTER THE SALE IN AUCTION AND TRANFR OF THE DEED IN 2015 UNITL THE LEASE IS OVERT YOU WIL LOOSE YOUR DEPOSIT WHICH IS NOT A SMALL AMOUNT. THE LAW IS ON THIES SIDE. HE HS TOLD ME HOW HE IS TRYING TO KEEP THE PROPERTIES. AGAIN THE LAW IS ON HIS SIDE AT THIS POINT!!!! . THE NEW OWNER GIVES YOU A 30 DAY NOTICE TO GET MAILED OR EVEN LEFT ON YUR DOOR. IF THEY WANT YOU OU. IF YOUDO NOT RESPOND THE COURTS THE JUDGE WRITES A WRIT OF EXECUTION BASICALLY THE SHERRIFF SERVES A 72 HOURS GET OUT OUR YOUR STUFF IS TO THE CURB!!!!! NOW WE ARE FORTUNATE THAT WE CAN COME UP WITH THE NEW DEPOSIT WE WILL LOOSE THE ORGINAL ONE, BU IT GIVES YOU ONY 30 DAYS TO FIND A NEW PLACE,PACK CALL IN MOVERS AND PLUS YOUR ARE YOU ARE WORKING..ECT.. THE EMOTIONAL STRESS HE HAS CAUSED INNOCENT PEOPLE THAT DO NOT UNDERSTAND THE LAWS. THE STATE NEEDS TO CHANGE THE LEGISLATION BACK TO THE LEASE PREVAILS UNTIL AFTER THE SALE AND TRANSFER OF THE DEED TO NEW OWNER. WRIITE TO OUR SENATORS AND RICK SCOTT, HELP THE ONES WHO CAN NOT MOVE IN 30 DAY NOTICE OR A WRITE TO OUR SENATORS IN THS COUNTRY AT THIS TIME THERE ARE MANY LESS FORTUANTE. I HAVE DONE MY RSEARCH. THE HOME PROBLEM SOLUTIOS NOT THE ORIGANL ONE WE RENT TO WENT IS IN SOLVENT IN SUNBIZ,ORG BUT STILL HAS SHARESL, SO THEY DID NOT DISOLVE THE CORPORATE WHICH STILL GIVES HIM THE PROPRTY RIGHTS. I RENT FROM A DIFFERENT HOA PROBLEM SOLUTIONS INC NOT THE ORGINAL ONE. THE COMAPANY I RENT FROM ISNT EVEN HOA PROBLEMS SOLUTION ANOTHER COMANY INCORPORATED. THEY HAVE MANY HOA PROBLEM SOLUTIONS SO MANY DIFFERENT OTHER INCORPORATIINS ITS HARD TO KEEP UP ON THE PAPER TRAIL PLUS HE WANTS THE HOME PROBLEM SOLUTIONS PUT IN YOUR CHECK IN A BLIND CHECKING ACCOUNT FOR RENT. YOUR DO NOT EVEN KNOWN WHAT COROPRATION HAS THE ACCOUNT UNTDER PRIVACY LAWS. DO YOU KNOW WE THINK THEY AVERAGE THEY ARE MAKIING APPRXIMATEY ABUT 200, 000 A MONTH. THANK GOD THE HOA IS WORKING WITH US. THEY HAVE BEEN SO WONDERFULL. THEY HAVE A CONCURING JUDGEMENT FOR NOT PAYING THE HOA DUES. I STAND BEHIN THE HOA 100 PERCENT. WE ARE WORKING WITH THE ATATE ATTONREY GENEERAL. SEE STATUTE 86. HE HAS LOST OUR RENT AND OTHRS. THE HOA HAS BEEN OUR LIFE SAVIOR!!! HELP THE INNOCENT. CHANGE THE LAWS BACK FROM 1999 THE FEDERAL GOVERMENT CHANGED TO!!!! HELPTHE INNOCENT!!!! THAVE NO AWARE WHAT THEY ARE DOING. GET ACTIVE. IT ALSO HELPS THE REAL ESTATE MARKET!!!!!! SO THE MORTAGE BUSNESS CAN MAKE A LLIVING TOO. . THE ONY WAY I CAN GET THIS PROPERTY IS WAIT FOR THE AUCTION AND BID AND WHO KNOWS THE DECENT BID WITH THE PROPERTY UNER WATER AND AS YOU SAID HE GETS THE SURPLUS AND 500.00 TO TRANSFER THE DEED BACK. BUT YOU HAVE TO PAY CASH AT THAT AUCTION AND THAT I JUST DO NOT HAVE. HE HAS DOS NOT MAINTAIN THE PROPERTIES!!!. WE DO IT OUR SELVES. THE HOA DOES TO KEEP THE PROPERTY IN GOOD CONDITION, I KNOW MY CONDO DUES GET GONG UP IN MY OLD PLACE I OWNED!!!! RESEARCH THE LAWS, I KNOW PEOPLE DO NOT WANT TO GET INVOLVED!!! HELP THEM.READ THE CASES THAT OUR CURRENTLY IN THE COURTS IN FORECLOUSRE YOU WILL SEE HOW THEY USE THE LAW IN THIER FAVOR TO TRY TO KEEP THE PROPERTIES!!!! AGAIN I STAND BY THE HOA’ SOF OUR COMMUNITY!!!!!!!!!

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