HOA\’s Take Triple Hit From Governor Scott, The Legislature And The Banks

Incredibly, Governor Scott signed the bill that allows Florida developers to be released from liability for defective improvements such as driveways and sidewalks.

And it’s retroactive, to add insult to injury, so any previous or existing claims can’t be collected. “…the effective date of the bill is July 1, 2012, and applies to all cases accruing before, pending on, or filed after that date.”

There were only 10 “no” votes in the House and 4 in the Senate. Thanks for nothing, y’all. It’s truly a bi-partisan hit.

And all of the bills that we hoped would give Associations relief from foreclosure delay and being held liable for costs when title is taken and the unit is sold went down the tubes.

Of particular interest is the excellent investigative piece by Megan O’Matz and John Maines on the front page of the Sunday, April 29 Sun-Sentinel exposing how the banks let foreclosed properties decay and destroy neighborhoods. “From homes to slums” needs to be required reading by every citizen in this country.

The banks block every attempt we make to stop the blight by delay they create and they get away with it, thanks to compliant politicians. I’m looking forward to the entire series that will have been published by the time you read this blog. Especially “Cities and individuals fight back.”

Which banks are most code-offensive? The article mentions JPMorgan Chase, Bank of America, Wells Fargo, CitiMortgage, BNY Mellon, Deutsche Bank, and of course the two Government baddies, Fannie Mae and Freddie Mac.

To refresh our memories: October 2, 2008 Wall Street Journal: “What They Said About Fan and Fred Fannie Mayhem: A History”
“I believe there has been more alarm raised about potential unsafety (sic) and unsoundness than, in fact, exists.” said Cong. Barney Frank September 25, 2003 during hearings on the impending disaster.

Pay no attention to the man behind the curtain.

This is the quote from Deutsche Bank in the article: “The bank itself has no economic interest or ownership stake in the properties.” The bank thinks maintenance is the responsibility of the “loan servicers.”

Well, after all, they’re only following orders.

Source: Sun-Sentinel

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