Kornerstone Management firm under investigation for HOA embezzlement in NC

By Deborah Goonan, Independent American Communities   Here we go again. Another company managing multiple Association Governed neighborhoods is under investigation for embezzlement. So far, six associations have filed complaints against Diana Ellis Kelly of Kornerstone Community Management of Garner, North Carolina. So far, three have reported to WRAL missing funds from their accounts as follows: Greystone Crossing neighborhood in Garner $52,000 Wellington neighborhood in Angier at least $9,000 Hunter’s Mill community in Clayton $16,000 However, Continue ReadingKornerstone Management firm under investigation for HOA embezzlement in NC

New federal bill HOTMA H.R. 3700: Housing Opportunity Through Modernization Act

By Deborah Goonan, Independent American Communities Those of us who follow legislative issues involving Association Governed Housing need to pay attention to the recent fast-tracking of H.R. 3700, Housing Opportunity Through Modernization Act (HOTMA). Community Associations Institute and the National Association of Realtors lobbied in favor of HOTMA, mainly because the bill requires the Federal Housing Administration (FHA) to ease mortgage financing requirements for condominiums. The obvious goal of both trade groups is to sell Continue ReadingNew federal bill HOTMA H.R. 3700: Housing Opportunity Through Modernization Act

IAC Housing Policy News Links July 2016

By Deborah Goonan, Independent American Communities A collection of important news affecting federal and state housing policy, as well as legislative reform for Common Interest and Association Governed Housing. Durango’s proposed construction defects law tweaked By Mary Shinn Herald staff writer Rules to govern lawsuits over construction defects were refined this week by the Durango City Council. A state law that exposed developers to more lawsuits over defects has slowed condominium development statewide, but municipalities have Continue ReadingIAC Housing Policy News Links July 2016

Government thinks real estate investors deserve more consideration than homeowners

Shared by Deborah Goonan, Independent American Communities   One of my readers shared this shocking report. It clearly illustrates how housing finance policy in the US is manipulated to benefit real estate investment moguls, and not consumers (homeowners). As you read this article – it’s a bit lengthy but worth your time – keep the following questions in mind: How does approving risky mortgage loans with unfair or unconscionable terms “help” consumers? How does the Continue ReadingGovernment thinks real estate investors deserve more consideration than homeowners