Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Monday, July 10, 2017
Undisclosed Past Due $145 HOA Fee Owed By Prior Owner Purportedly Grows To $77K For Central Florida Woman Who Recently Purchased Condo Out Of Foreclosure; Claims Made Accusing Debt Collector Of Running Racket To Squeeze Victims Out Of Their Homes
In Winter Park, Florida, WFTV-TV Channel 9 reports:
A Winter Park woman claims a past-due homeowners association bill for $145 has turned into an astounding demand for $77,000.
Ranya Hamza blames a debt collector that bought old association debts then, she claims, demanded homeowners pay sky-high fees.
Hamza said these are scary times and she fears a debt collector may try to take her home. “This is killing me," she said. "I can't sleep. I cannot do anything.”
She bought a Winter Park Villas condo in foreclosure but didn't know the previous homeowner owed $145 in association fees. Then, Hamza claims, out of the blue, LM Funding in Tampa sued to collect the debt that now totaled in the thousands.
“They put a lien on my property just like that, just like that,” she said.
HOAs often hire attorneys to collect unpaid dues, but Hamza faces something new and far more threatening.
The condo association had been struggling so, like many other HOAs, it signed an agreement with LM Funding, which is a debt collector.
LM Funding advanced the association money to cover maintenance bills and in exchange it took over right's to collect delinquent dues, like Hamza’s debt.
But since she first disputed it, Hamza said LM Funding fees soared and now the company claims she owes $77,000. “And nobody is stopping them,” Hamza said.
Several condo associations are trying to block LM Funding through a recently certified class-action lawsuit. The suit accuses the company of deceptive trade and illegally high interest rates.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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