Nevada 9th Circuit: Super priority lien cannot extinguish Freddie Mac mortgage without consent

By Deborah Goonan, Independent American Communities   Some opportunistic Nevada real estate investors and HOA foreclosure attorneys are likely displeased with a recent Opinion filed by Judge Kimberly J. Mueller in the Ninth Circuit Court of Appeals. Mueller ruled that the Federal Foreclosure Bar overrides Nevada statute’s intent to extinguish a first mortgage as a …

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When is a flood zone not a flood zone? Riverstone owners sue HOA developer

By Deborah Goonan, Independent American Communities Hurricane Harvey recovery efforts continue in southeastern Texas. Now that waters have receded, clean up and damage assessment is well underway. Homeowners and residents wonder what went wrong. Yesterday, I wrote about widespread flooding in Cinco Ranch, which caused failure of a sewage treatment plant. Today's report from KTRK …

Spike in HOA foreclosures – implications for legislative change

By Deborah Goonan, Independent American Communities The subject of foreclosure by association-governed communities is getting substantial attention in the past year or two, and that's a good thing. Investigative reports, such as the following article published by The Arizona Republic at azcetnral.com, serve to increase public awareness of risks for homeowners, as well as the …

HOA, Condo, Co-op Legislative Highlights (Sept 2017)

By Deborah Goonan, Independent American Communities   California California residents of common interest developments have moved one step closer toward upholding their First Amendment rights to freedom of speech and assembly. CA SB-407, An act to add Section 4515 to the Civil Code, has been signed by the Governor, and is now enacted as of September …

Chicago homeowners unable to override condo board’s $500K special assessment

By Deborah Goonan, Independent American Communities   UPDATE on State Parkway Condo Association's vote on special assessment: According to condo owner Michael Novak, State Parkway Condominium Association's accountant, James P. Cherep, MBA, CFE, has officially tabulated condo association member votes with regard to the board-approved $500,000 special assessment. Only 29.05% of association membership voted to …

What should be done about the Phantom, Inactive HOA?

By Deborah Goonan, Independent American Communities Yesterday's post provided quantitative data - statistics and surveys from the real estate industry and the U.S. Census - that suggest that association governed communities are falling out of favor with housing consumers. Today I share with readers a report that provides qualitative evidence of a governance model that …

Two keys to ending HOA abuse

By Deborah Goonan, Independent American Communities Several months ago, inspired by offline discussions about the root causes of dysfunction and abuse in association-governed communities, I published Recipe for HOA abuse: too much power, no accountability here on IAC. At the time, several states were considering numerous legislative proposals aimed at holding homeowner, condominium, and cooperative associations …

Can Chicago homeowners override condo board’s $500K special assessment?

By Deborah Goonan, Independent American Communities CORRECTION: I received the following statement from Michael Novak, with regard to the Fair Housing lawsuit:  The federal judge actually gave approval that the federal fair housing case can move forward (after motions to dismiss were ruled on) on September 15, 2014, or almost 3 years ago. We’ve been …

City, home inspectors fail to identify defects in condo and HOA construction

By Deborah Goonan, Independent American Communities   If you are in the market for a new or recently renovated home or condo, view the following reports first. Word is beginning to spread across the country, with an epidemic of poor design and shoddy construction, especially prevalent in condominium projects and all types of planned communities …

Update: NV Supreme Court rules in favor of GSE loan servicers

By Deborah Goonan, Independent American Communities Real estate auction investors who purchased hundreds of properties at HOA foreclosure sales for pennies on the dollar are reeling at this latest Supreme Court ruling in Nevada. In 2014, Nevada Supreme Court ruled that an investor who purchases an HOA foreclosure can wipe out the first mortgage by …