"Ignoramus24975" wrote in message
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On 2010-06-17, Paul K. Dickman wrote:

"Ignoramus24975" wrote in message
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http://abcnews.go.com/Business/artic...0910681&page=1

Pretty juicy story. Homeowners association foreclosed and sold a
soldier's house to an "investor" Jad Aboul-Jidin for $3,200.

The real culprit seems to be the soldier's wife, who was "depressed",
did not pay dues and was ignoring mail. Supposedly the HOA checked
with DoD and received a negative reply about his deployment
status. That is, if we believe their version fo events.

Somehow by sheer accident, the house worth $300k was sold
onlyt for $3,200.

i

There is another investor in the mix.
Somebody else bought it for $3,200 at foreclosure.
They sold it to Aboul-Jidin for $135,000

Oh, I did not realize.

It is Texas law that gives HOAs the power to foreclose for back
dues. I wonder what other states allow this? Around here, the worst
they can do is slap a lein on the property.

I stay away from HOAs as far as I can. So I do not know. It is illegal
to foreclose on a house owned by a person who is deployed, however the
HOA seems to have received a wrong answer fron DoD that denied that
this person was deployed. What a mess.

i
What motivates people to be involved with an HOA? You can't be assured that
something like this won't happen. This is giving tremendous control to a
faceless group of people!!!
When we looked for a place to settle after 8 years over seas, we found some
of these HOAs. I wouldn't accept a Free house under most of the HOA
conditions. Which by the way can change to your disadvantage after you
accept the first go round. People that live in these do NOT own their own
home. You would be better off renting.