Foreclosure & Homeowners' Associations

The LA Times has a blog post discussing the stress that the foreclosure mess has put on homeowners' associations:

If you live in a homeowners association – condo or single-family – chances are you have a very badly behaved new neighbor. Your neighbor doesn’t pay association fees – just because it doesn’t want to. Your neighbor doesn’t think it has any responsibility to the unit or house it bought, never mind to you.

Your new neighbor? A bank.

Steve Clowney

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