ANNAPOLIS, Md. (AP) - Maryland's governor and congressional delegation are asking the state's chief judge to halt all foreclosures in the state for at least 60 days.
In a letter to Chief Judge Robert Bell on Saturday, Gov. Martin O'Malley and all 10 members of Maryland's congressional delegation say immediate action is necessary to avoid miscarriages of justice. Reported on WTOP
So Governor O'malley it appears that you are aware of the fact that 3 out of 4 of these homes are in a Common Interest Community and if you stop the process of foreclosure and dont help the community then there will be nothing left for the owner to be assoicated with since these homes are bound by convents and bylaws that say they are part and parcel of an over all community.
If your one of these communities I would be scared to death right now because this very same government is going to be after their property taxes and since so many of your neighbors went into default on their mortgage your budget has been balanced since the save button was hit drafing it and your community doesn't have these funds.
Let alone the master utilities, for street lights common area lighting, gas, water, security, repairs maintenance and these politicians have the nerve to cry over some auto signed documents. Either, the Maryland elected officials hate your condo's coop's and homeowner association or they are clueless as to the effect decision like this one have on these communities. It's only 3 out of 4 homes in Maryland.Considering that our Chairman Nelson Jacobsen called in and ask one
Maryland Condominiums, Cooperatives and Homeowner/Townhouse Associations are not just worried about the foreclosure. The process he talks about does nothing to help the Communities in fact it delays the amount of time and cost to the community.
What is the hardship on the HOA's How are you going to make these communities whole if you dont address the problem.
WHAT THE PROBLEM Well if they aint paying their mortgage then they're not paying these assessmens, reserve contributions and specail assessment for the homeowners they took the property from in the first place.
It gets better........Maryland HOA's there is a totallack of Financial Disclosure under the MD HOA ACT. When these banks do sell these homes which they are not paying assessment on they are not telling the new owners that the HOA is broke because deadbeats like the banks and FANNIE, FREDDY and HUD. Heck they dont have to even give the budget.
Now if that were't enough some of the biggest dead Beads see BOA-BLOG - FANNIE FREDDY & HUD aren't even giving them the required Documents -Article of Inc,
BTW Many of these CIC are not incorporated because they dont have the money to pay the MD filings.
Declarations, by-laws and any amendments. These are required under the Maryland HOA ACT Disclosure requirments and most of these banks, fannie/freddy and HUD are guilty of wholesale dereliction of responsibility or they are once again -- clueless.
Now considering that so many of Maryland homes are in CIC it find it very hard to believe that didn't notice them popping up in all over the place Considering that any development over 3 unit in Maryland has to form a water association.
So we are going to follow up with Craig Rice in Maryland and introduce him to a number of HOA owners and board directors and see if he's with CIC or against them.
Just stopping foreclosures will do one thing KILL CONDOS & HOAS IN Maryland