“I bet you have never heard this one, Shu. Let me tell you what my HOA is doing to me. ”
Welcome to housing American style because as shocked as they are when they reach out to me, their story is not as uncommon as they think.
Even though I thought I had heard it all, a few years ago one listener from Florida managed to educate me on just how bad things really are. She was a single mother of an infant who was being forced out of the condo she owned. Yes she would get paid less than market value for it and what she would get was nowhere near enough to help her find another home. In essence, she and her baby were on their way to being homeless. She introduced me to the practice of condo terminations and bulk buyers to explain how this was being done.
John Cowherd joins me On The Commons . John, a frequent guest On The Commons, is an attorney in Northern Virginia who represents the homeowners in litigation and disputes against their residential and commercial associations. He also maintains a blog called Words of Conveyance I am always grateful to John for keeping me in the loop of what is going on in the courts as well as the legislature in Virginia and for coming on to inform our listeners about it all. We talk to John about HB 1548, a Virginia bill introduced and sponsored by Delegate Marcus R. Simon. This bill appears to be flying through all the committees and chambers in Richmond, on its way to becoming law much too quickly. What this law would do is strip the owners of rights and protections they have as condo owners making it so much easier for developers and investors to profit financially, leaving them much poorer than they were before getting involved in a condo. So much for protecting property values. As my mother always said, “If it sounds too good to be true, it probably is.”
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