By Deborah Goonan, Independent American Communities What happens when a homeowners’ association no longer serves its intended purpose? Can it still collect annual assessments? Homeowners of Inwood Forest Village, located in Acres Homes subdivision outside of Houston, recently discovered that their homeowners’ association has been “administratively dissolved” as of 2007. But what does that mean? Apparently, the HOA allowed its corporate registration to expire. According to homeowners interviewed by KHOU, the last HOA meeting Continue ReadingDissolving an HOA – is it possible?
By Deborah Goonan, Independent American Communities This month: more condo HOA managers under investigation, several sentenced after pleading guilty to theft and money laundering; FBI probe in Miami; condo owners catch maintenance worker stealing their stuff. Illinois Condo President says former management company left them bankrupt CBS2 Chicago, reports that Drexel Condo Association President Natasha Neptune, has filed a complaint with Illinois Department of Financial Professional Regulation against the association’s former management company. Neptune says Continue ReadingHOA, condo & co-op corruption and fraud roundup (March 2019)
By Deborah Goonan, Independent American Communities This month’s roundup: light sentences and no jail for convicted HOA embezzlers; an affordable housing developer disappears with deposit money; and unqualified owners of affordable housing forced to sell the home. No jail for man who stole $352K from Galloway homeowners group (NJ) February 25, 2019 11:41 am Lynda Cohen A man who stole more than $352,000 from a Galloway Township homeowners association was sentenced to 90 days on Continue ReadingHOA, condo & co-op corruption and fraud roundup (Feb. 2019)
By Deborah Goonan, Independent American Communities Long list of HOA theft and embezzlement in this month’s roundup, as well as attorney misconduct. The industry can no longer claim “isolated incidents.” Former manager accused of taking more than $100,000 from Lincoln Village area HOA By Wes Bowers Record Staff Writer Posted Jan 25, 2019 at 5:18 PM Updated Jan 25, 2019 at 5:18 PM STOCKTON — The former manager of a Lincoln Village area homeowners association Continue ReadingHOA, condo & co-op corruption and fraud roundup (Jan 2019)