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| Foreclosure
without "DUE PROCESS"
A Total Rip Off by the Industry? By Jan Bergemann ( 4 - 4 - 2001 ) |
| The
next Victim of the Texas Foreclosure Scam !
Please click here to read this sad story with comment! |
| It seems very obvious that some overeager
boards, management companies and lawyers are using this as an easy cash-cow
at the expense of unsuspecting homeowners.
Texas is a very good example of this abuse of power. Since 1995, when Property Code 204, promoted by the CAI (Community Association Institute), passed the Texas legislature, there have been over 4400 documented foreclosure filings in Harris County which includes Houston. These are only numbers from Homeowners' Associations and do not include townhomes and condos. Here are 5 very recent examples, how small amounts owed turned into huge payoffs for attorneys and the related industry. In a lot of cases these filings lead to actual foreclosures, because the homeowners are unable to pay the enormous fees.
The Actual Delinquent Dues can consist of regular homeowners' assessments, delinquent fees or fines, assessed by a board with no real legal challenge possible. These actual very small amounts (see examples above) mushroom into huge piles of money. Many homeowners, who were unable to meet this financial challenge, lost their homes over it. In order to avoid losing their home, the homeowners who don't challenge the foreclosure filing must pay the delinquency plus all late fees, charges, interest and attorney fees. If it comes to foreclosure, shrewd business people, mostly related to the industry, pick up the property at the auction for "peanuts" and resell at huge profits, leaving another family homeless! Copied Court documents of the above cases plus many more others are in my possession. In my opinion these outrageous dealings
have to be stopped immediately by our legislators - no question asked.
Otherwise the serious question will come up :
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