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re: Woman loses home after HOA auctions nearly $500K home for $30K

Posted on 7/24/18 at 11:44 am to
Posted by TheCaterpillar
Member since Jan 2004
76774 posts
Posted on 7/24/18 at 11:44 am to
quote:

I mean, you don't have to live in the neighborhood with an HOA having that power. It's your decision to live under that



Right.

Personal responsibility is going away these days. She agreed to these terms and went above and beyond to frick her own situation up.
Posted by shel311
McKinney, Texas
Member since Aug 2004
112944 posts
Posted on 7/24/18 at 11:45 am to
quote:

The notice of delinquent assessment lien was recorded and mailed on October 1, 2014.

The notice of default and election to sell real property to satisfy notice of delinquent assessment lien was recorded and mailed on September 1, 2016 to ALL lienholders and the homeowner.

The notice of foreclosure sale under notice of delinquent assessment lien was recorded on January 11, 2018, mailed to the homeowner and all lienholders, and the auction occurred on February 22, 2018.

So she basically lived rent free in a $500k house for 4 years?
Posted by NYNolaguy1
Member since May 2011
21842 posts
Posted on 7/24/18 at 11:46 am to
If only I had enough money to have someone else tell me what I can and cant do with my property. And apparently sell my property for me.
Posted by DemonKA3268
Parts Unknown
Member since Oct 2015
21240 posts
Posted on 7/24/18 at 11:47 am to
quote:

Boom. Should be put in the OP.
Was this in the original article. Nope. Kind of hard to put something in that wasn't there. I'm glad someone looked it up. Yeah, we get it, she is at fault. HOA's are still majority POS.
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 7/24/18 at 11:47 am to
quote:

People should stop ignoring the 50 page HOA agreement that comes with their new house. Nobody is forcing you to agree to it.


This right here. It's probably the biggest investment in most people's lives and they won't read the damn rules that go with it.
Posted by shel311
McKinney, Texas
Member since Aug 2004
112944 posts
Posted on 7/24/18 at 11:48 am to
I know there's lots that goes into it but a $500k home with HOAs, is $4k/month a conservative estimate on mortgage + HOA fees?
Posted by Weekend Warrior79
Member since Aug 2014
22244 posts
Posted on 7/24/18 at 11:48 am to
quote:

Scum of the earth and hell even if they didn't.


She didn't pay her association dues for years (accoridng to the article) and did not communicate anything to the HOA. The HOA has a duty/obligation for the entire community. Also, most states (Don't know Nevada) requires the HoA to send multiple notices.correspondences before they are able to get to this point. If Nevada is similar to the SE US, then she would have been notified of their actions and still refused to communicate with them.

Also, you're the scum of the earth for making me defend a HOA.
Posted by castorinho
13623 posts
Member since Nov 2010
88339 posts
Posted on 7/24/18 at 11:48 am to
Yeah and even without that extra information, there was enough in the OP that came from HERSELF to suggest that she's the one to blame.
Posted by Slagathor
Makin' jokes about your teeny tiny
Member since Jul 2007
39015 posts
Posted on 7/24/18 at 11:50 am to
quote:

If only I had enough money to have someone else tell me what I can and cant do with my property. And apparently sell my property for me.


Do you live in another country?

That's kinda true for all property, not just places governed by HOAs
This post was edited on 7/24/18 at 11:55 am
Posted by baldona
Florida
Member since Feb 2016
24466 posts
Posted on 7/24/18 at 11:50 am to
Lol if anyone believes this is anything but a fake story.

First off, no $430k house sold for $30k today unless it had major reasons to do so.

2ndly, you realize that your local government will kick you out of your home if you don't pay your taxes right? Hoa dues are privatized taxes for nicer things.

Lastly, anyone that thinks this lady has no idea what was gonna happen is completely ignorant. I can assure you she received multiple legal notices and was served by the government multiple times. She simply refused to do anything.
Posted by TheCaterpillar
Member since Jan 2004
76774 posts
Posted on 7/24/18 at 11:51 am to
quote:

I know there's lots that goes into it but a $500k home with HOAs, is $4k/month a conservative estimate on mortgage + HOA fees?


That's really high.

Unless she got a terrrrrrrrrible rate, has PMI, and the HOA is astronomical.

Posted by DemonKA3268
Parts Unknown
Member since Oct 2015
21240 posts
Posted on 7/24/18 at 11:51 am to
quote:

Yeah and even without that extra information, there was enough in the OP that came from HERSELF to suggest that she's the one to blame.
HOA's still ridiculous for the most part.
Posted by NYNolaguy1
Member since May 2011
21842 posts
Posted on 7/24/18 at 11:54 am to
quote:

Do you live in another country?


Sometimes?
Posted by slackster
Houston
Member since Mar 2009
91873 posts
Posted on 7/24/18 at 11:56 am to
quote:

this is the thing that I'm trying to make sense of. There are real estate businessmen that look for these kinds of deals to pop and attend these auctions. I don't know how the frick it stopped at 30k.


I'll say this - the Frank Komorowski fellow is full of shite:

quote:

Nenita reached out to Frank Komorowski, the man who bought her house.

On the day of the auction Nenita says Frank was understanding at first. She thought he agreed to pick up a check at a title company to reimburse his $30,000 before the sale was recorded. But he never did that.

Then a month later Nenita's realtor, Ron Hurst, says they met with Komorowski hoping to reach an agreement.

"For a settlement amount that he would take at close of escrow so he would sign off any interest in the property."

But Nenita was served with an eviction notice instead.

Ron emphasizes Frank got the house legally but takes issue with Nevada law.

"And to put this poor lady in this predicament right now when it didn't have to be that way," says Ron.

The way Ron sees it, the Super-Priority Lien law is the problem. Nenita can't move forward with the short sale and the lender can't require the new owner to pay the mortgage because he was never the borrower. While the lender can still technically foreclose on the house, they can't sell it because they don't have title.

And the new owner? He's not happy either.

"I bought it because I thought that there was a nice property and I wanted to be there and unfortunately it has been a nightmare," says Frank.

Frank says Nenita's problems are not his fault.

"I was willing to work with her. And I tried to work with her," he says. "And I met with her and I talked with her."

But bottom line he wants the house

"And if you look in my garage, you will see I need a larger space."

Frank Komorowski is still trying to evict Nenita but the case is now in court.



^That's all bullshite. He lives in Williamsville, NY. He bought the house in the OP (with a taxable value of $285k) on February 22nd. On that same day he bought a HOA foreclosed townhome valued at $155k for $30k. On February 15th, 2018, he bought another house for $30k at an HOA foreclosure auction that had a taxable value of $255k.
Posted by Topwater Trout
Red Stick
Member since Oct 2010
70176 posts
Posted on 7/24/18 at 12:00 pm to
quote:

I'd flip that house faster than the ink could dry for a $400k profit then use said profit to buy another home.




wish i could find a deal like that
Posted by castorinho
13623 posts
Member since Nov 2010
88339 posts
Posted on 7/24/18 at 12:00 pm to
quote:

That's all bullshite. He lives in Williamsville, NY. He bought the house in the OP (with a taxable value of $285k) on February 22nd. On that same day he bought a HOA foreclosed townhome valued at $155k for $30k. On February 15th, 2018, he bought another house for $30k at an HOA foreclosure auction that had a taxable value of $255k.

I don't blame him. I would too if I had the money. Repairs or not, I don't see how he gets those so low.
Posted by shel311
McKinney, Texas
Member since Aug 2004
112944 posts
Posted on 7/24/18 at 12:02 pm to
quote:

That's really high.

Unless she got a terrrrrrrrrible rate, has PMI, and the HOA is astronomical.


Word


I'm trying to estimate how much that could be without knowing the details, then figure out over 4 years, just how much money she "saved" by not paying a mortgage/HOA.
Posted by lsucoonass
shreveport and east texas
Member since Nov 2003
70130 posts
Posted on 7/24/18 at 12:03 pm to
Yeah I’m never living at a place that requires a HOA
Posted by shel311
McKinney, Texas
Member since Aug 2004
112944 posts
Posted on 7/24/18 at 12:05 pm to
quote:

Yeah I’m never living at a place that requires a HOA

You plan on not paying your mortgage or HOA dues for 4 years?


If not, this doesn't apply to you.
Posted by Picayuner
Member since Dec 2016
3869 posts
Posted on 7/24/18 at 12:05 pm to
How would mortgage companies allow this to happen ? They're out of alot of money. Don't mortgage companies have goons and politicians on their payroll ?
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