I wonder if it’s hard for these people to sleep at night. Stealing from neighbors? The ones you say “hi” to on the street each day? Maybe it’s just me, but I could never get used to the guilt. Your neighbors are trying hard to pay their bills, to put the kids through college, some of them even struggling to pay HOA dues. Other neighbors have lost jobs in this economy, and are wondering where the next bag of groceries are coming from?
Then some runny-nosed, gambling-addicted, coke-head of an HOA treasurer grabs all the neighborhood’s money for a quick run to Vegas.
The latest case involves a Homeowners Association treasurer from the Parkwood HOA In Durham, North Carolina. This yahoo only stole $150,000 to $200,000. This kind of theft doesn’t just happen because the crook is arrogant. It happens because the crook thinks you, the homeowner, are stupid. You’re too dumb to read the annual report. You’re too stupid to suspect a crime. You’ll deny to the bitter end that you were the one who was robbed.
But just try selling your home, Bunky, to another buyer. It’s required by law that you disclose all defects in a property, including whether the HOA treasurer had a blank check to transfer money from your Homeowners Association to the casinos.
That should do something for the offer price on the home you’re selling. After revealing that the HOA is now totally out of money, prepare to lower the asking price of your home by 20 or 30,000 dollars.
You’re a sucker. A sucker for living in a Homeowners Association where trust is the only promise you really get. A sucker for not realizing that governing covenants across the land are so poorly written that thousands of Homeowners Associations are in the same sad shape. Yep, Buddy. Welcome to HOA life. You’re a sucker.