Who might be the buyers at HOA foreclosure sales? – 9 15 17

….Former homeowners have complained for more than a decade that the buyer at many of these HOA foreclosure sales are insiders – board members, friends of family members of the board, or affiliates of the association management company or HOA attorney.

Legislation expressly prohibiting insider trading or similar conflicts of interest is essential to preventing this kind of incestuous, self-serving behavior.

Florida recently addressed this matter in its new “condo crime law.” (emphasis added)….

more at https://independentamericancommunities.com/2017/09/15/spike-in-hoa-foreclosures-implications-for-legislative-change/

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