The typical homeowners or condominium association puts either a profit-motivated Developer or your neighboring property owners (people you may barely know, and who often lack relevant qualifications) in charge of governing your home, your lifestyle choices, AND your money.
Today, four out of five real estate sales are in condominium or Homeowners Association communities–a $90 billion a year industry representing five times the amount the federal government spends to run NASA. An estimated 70 million Americans are living under the rule of an association.
Association-governed real estate ownership (which includes condominiums, cooperatives and single family homes within a Homeowners Association) comes with considerable risks of which few are aware when they sign on the dotted line. Click here to read more
About the Film
“The HOAX” is an independent examination of the abuse of power and lack of regulation in the homeowners’ association (HOA) industry; a business whose key selling point is the protection of property values.
The film follows an investigative reporter, homeowners, and HOA reform activists as they illustrate shocking evidence of financial and psychological hardships throughout Texas and Nevada. A few of these people, including the filmmaker, are the subject of adverse actions from the very Homeowners Associations created to help them.
Las Vegas Lift-Off Online
starts Monday 6th June, 9AM PDT
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I have enormous sympathy for people who buy into an HOA. Heck, I was dumb enough to do the same thing. Three times! But in retrospect, I was STOOPID! I was a lamb among the wolves. Never had a clue.
The biggest unreported financial crime in America is embezzlement from an HOA. The following story isn’t even extraordinary, it happens in city after city, day after day. But homeowners (like me) are just too witless to ‘get it.’ The HOA scam is beyond any reasonable explanation. If you’ve bought an HOA property you’ve just donated your life savings to a massive national criminal enterprise that the government will never investigate, expose, or end. Kiss your life savings, ‘Goodbye.’ Read more:
From Zillow Posted January 1, 2016
A steady increase in the share of U.S. homes that require monthly condo, mobile home or homeowner association fees (HOA) has important implications for the affordability of homes nationwide, particularly condos, which are an increasingly popular option for first-time homebuyers. Read the article…………..