[bearishgurl]

[quote=patb]
http://finance.yahoo.com/family-home/article/112801/fight-to-rejoin-middle-class-usnews/
…[/quote]

What was your lowest moment?

Going through a breakup with my fiance. It ended badly with me waiting for him at a train station, abandoned in the snow in a blizzard. We met on Twitter. He was my first follower. He lived in Scotland and grew up privileged. He had a really good job and got laid off. He couldn’t support the house he was living in and they finally foreclosed. And he wasn’t close with his family. So he put everything into a suitcase and ended up homeless. Then he started a website about homeless people, and discovered my blog.

We visited each other and made plans to get married. I scraped up enough money to visit him in Scotland — surprise him — over Christmas in 2009. I got a surprise of my own. There was a woman staying in his house. I was shocked. He said, “It’s not what it looks like, I’ll get rid of her, but meanwhile, you can’t stay here.” So I stayed in a little hotel in town, spent all my money, and after a couple of days, they both packed their bags and left. The only contact with him since then was a two-line email saying, basically, “I can’t explain.”

(emphasis added)

She sounds like a reasonably intelligent girl with a somewhat codependent personality. She apparently lost most of her savings she needed for survival on the above “escapade.” Had she had a better support system (family/friends), she probably wouldn’t have gotten sucked into this mistake. Typical “internet” relationship where at least one party is trolling for online (1-900) sex/emotional affair but had no intention of ever meeting their “subject” and is otherwise not available. These are more common than not.

She’s young enough to recover from this. I wish her well.

[bearishgurl]

[quote=patb]
http://finance.yahoo.com/family-home/article/112801/fight-to-rejoin-middle-class-usnews/
…[/quote]

What was your lowest moment?

Going through a breakup with my fiance. It ended badly with me waiting for him at a train station, abandoned in the snow in a blizzard. We met on Twitter. He was my first follower. He lived in Scotland and grew up privileged. He had a really good job and got laid off. He couldn’t support the house he was living in and they finally foreclosed. And he wasn’t close with his family. So he put everything into a suitcase and ended up homeless. Then he started a website about homeless people, and discovered my blog.

We visited each other and made plans to get married. I scraped up enough money to visit him in Scotland — surprise him — over Christmas in 2009. I got a surprise of my own. There was a woman staying in his house. I was shocked. He said, “It’s not what it looks like, I’ll get rid of her, but meanwhile, you can’t stay here.” So I stayed in a little hotel in town, spent all my money, and after a couple of days, they both packed their bags and left. The only contact with him since then was a two-line email saying, basically, “I can’t explain.”

(emphasis added)

She sounds like a reasonably intelligent girl with a somewhat codependent personality. She apparently lost most of her savings she needed for survival on the above “escapade.” Had she had a better support system (family/friends), she probably wouldn’t have gotten sucked into this mistake. Typical “internet” relationship where at least one party is trolling for online (1-900) sex/emotional affair but had no intention of ever meeting their “subject” and is otherwise not available. These are more common than not.

She’s young enough to recover from this. I wish her well.

[bearishgurl]

[quote=patb]
http://finance.yahoo.com/family-home/article/112801/fight-to-rejoin-middle-class-usnews/
…[/quote]

What was your lowest moment?

Going through a breakup with my fiance. It ended badly with me waiting for him at a train station, abandoned in the snow in a blizzard. We met on Twitter. He was my first follower. He lived in Scotland and grew up privileged. He had a really good job and got laid off. He couldn’t support the house he was living in and they finally foreclosed. And he wasn’t close with his family. So he put everything into a suitcase and ended up homeless. Then he started a website about homeless people, and discovered my blog.

We visited each other and made plans to get married. I scraped up enough money to visit him in Scotland — surprise him — over Christmas in 2009. I got a surprise of my own. There was a woman staying in his house. I was shocked. He said, “It’s not what it looks like, I’ll get rid of her, but meanwhile, you can’t stay here.” So I stayed in a little hotel in town, spent all my money, and after a couple of days, they both packed their bags and left. The only contact with him since then was a two-line email saying, basically, “I can’t explain.”

(emphasis added)

She sounds like a reasonably intelligent girl with a somewhat codependent personality. She apparently lost most of her savings she needed for survival on the above “escapade.” Had she had a better support system (family/friends), she probably wouldn’t have gotten sucked into this mistake. Typical “internet” relationship where at least one party is trolling for online (1-900) sex/emotional affair but had no intention of ever meeting their “subject” and is otherwise not available. These are more common than not.

She’s young enough to recover from this. I wish her well.

[bearishgurl]

[quote=walterwhite]Do I get paid for being on an hoa board?[/quote]

It’s a “volunteer” gig, scaredy. You get pd with headaches. Stick with your “day job.” :=]

[bearishgurl]

[quote=walterwhite]Do I get paid for being on an hoa board?[/quote]

It’s a “volunteer” gig, scaredy. You get pd with headaches. Stick with your “day job.” :=]

[bearishgurl]

[quote=walterwhite]Do I get paid for being on an hoa board?[/quote]

It’s a “volunteer” gig, scaredy. You get pd with headaches. Stick with your “day job.” :=]

[bearishgurl]

[quote=walterwhite]Do I get paid for being on an hoa board?[/quote]

It’s a “volunteer” gig, scaredy. You get pd with headaches. Stick with your “day job.” :=]

[bearishgurl]

[quote=walterwhite]Do I get paid for being on an hoa board?[/quote]

It’s a “volunteer” gig, scaredy. You get pd with headaches. Stick with your “day job.” :=]

[bearishgurl]

[quote=JBurkett19] . . . The fundamental point in owning real estate is to one day have it free and clear (outside of unavoidable property taxes). But, with HOA fees, you’ll NEVER have it free and clear.

Anyway-just my humble opinion[/quote]

I couldn’t have said this any better myself, JBurkett19!

[bearishgurl]

[quote=JBurkett19] . . . The fundamental point in owning real estate is to one day have it free and clear (outside of unavoidable property taxes). But, with HOA fees, you’ll NEVER have it free and clear.

Anyway-just my humble opinion[/quote]

I couldn’t have said this any better myself, JBurkett19!

[bearishgurl]

[quote=JBurkett19] . . . The fundamental point in owning real estate is to one day have it free and clear (outside of unavoidable property taxes). But, with HOA fees, you’ll NEVER have it free and clear.

Anyway-just my humble opinion[/quote]

I couldn’t have said this any better myself, JBurkett19!

[bearishgurl]

[quote=JBurkett19] . . . The fundamental point in owning real estate is to one day have it free and clear (outside of unavoidable property taxes). But, with HOA fees, you’ll NEVER have it free and clear.

Anyway-just my humble opinion[/quote]

I couldn’t have said this any better myself, JBurkett19!

[bearishgurl]

[quote=JBurkett19] . . . The fundamental point in owning real estate is to one day have it free and clear (outside of unavoidable property taxes). But, with HOA fees, you’ll NEVER have it free and clear.

Anyway-just my humble opinion[/quote]

I couldn’t have said this any better myself, JBurkett19!

[bearishgurl]

[quote=Ren][quote=JBurkett19]There are indeed special assessments for the roof replacemnt and any other major repair. That is why I dislike HOA’s. They have too much power and the regular monthly fees never seem to go to anything substantial.

Special assessments for major repairs are as real as a heart attack.[/quote]

For major unforeseen repairs, sure. HOA’s know what the major expenses will cost them, they plan for it, and it’s in every HOA’s budget. It’s one reason HOA fees continually go up. If they miscalculate by several thousand, okay. Nobody could be dead on. I could handle a $500-1000 per unit special assessment. But the entire cost of the roof? That would take some serious management ineptitude and corruption.

It’s the reason a housing development only need charge $46/month for a pool, security, and large private park (my ‘hood as an example), while a condo complex will charge $200-300. If an HOA squandered that much cash over decades, someone should be in jail.[/quote]

It isn’t quite like you’re describing here in actual reality, Ren. Often, HOA’s don’t realize until well after the fact that their developers used faulty plumbing parts between the walls, did not grade the site properly (causing water to drain towards the bldgs), installed the sprinkler system shoddily (causing leaks to spring up everywhere), used cheap fake wrought iron w/o powder-coating around the pool (which rusted out in 2-3 yrs), didn’t seal about the pool deeply enough, bought cheap pool heater/filter, didn’t support the balconies properly, didn’t install rain gutters/downspouts … and the list goes on … and on. The HOA land might even be draining onto other public or private property and the Assn may be facing govm’t-imposed fines for this. HOA’s are often mired in unexpected (often emergency) repairs and then legal fees (when they decide to sue their developer and all their subs) for construction defect issues.

When indiv townhome owners eventually rip up their carpets and find cracks in their slabs (due to improper grading and infill), many stop making mtg payments, taxes and/or HOA dues. Hence, an assn’s mgmt is constantly in small claims court obtaining judgments against delinquent homeowners who are in many cases overmortgaged. Due to this factor and the fact that an HOA doesn’t want to own any units, they don’t foreclose their lien(s) and typically don’t get pd until a delinquent unit reverts back to bene and the dues are caught up or they agree to take a short-pay on a short sale (rare??). Some owners are paying their mtgs but NOT their HOA dues.

This is not a “doomsday scenario.” Condo assns are faced with these intractable problems much more often than not.

Also, landscaping mat’ls and labor and well as other trades svcs have increased over the years due to increased worker’s comp premiums. HOA’s can’t hire an unlicensed svc co or individual (relative?) handyman/carpenter (like an SFR owner can), no matter how talented they are, due to liability issues. It’s not uncommon for a special assessment to be more than $2,500 per owner, esp in a small complex.

[bearishgurl]

[quote=Ren][quote=JBurkett19]There are indeed special assessments for the roof replacemnt and any other major repair. That is why I dislike HOA’s. They have too much power and the regular monthly fees never seem to go to anything substantial.

Special assessments for major repairs are as real as a heart attack.[/quote]

For major unforeseen repairs, sure. HOA’s know what the major expenses will cost them, they plan for it, and it’s in every HOA’s budget. It’s one reason HOA fees continually go up. If they miscalculate by several thousand, okay. Nobody could be dead on. I could handle a $500-1000 per unit special assessment. But the entire cost of the roof? That would take some serious management ineptitude and corruption.

It’s the reason a housing development only need charge $46/month for a pool, security, and large private park (my ‘hood as an example), while a condo complex will charge $200-300. If an HOA squandered that much cash over decades, someone should be in jail.[/quote]

It isn’t quite like you’re describing here in actual reality, Ren. Often, HOA’s don’t realize until well after the fact that their developers used faulty plumbing parts between the walls, did not grade the site properly (causing water to drain towards the bldgs), installed the sprinkler system shoddily (causing leaks to spring up everywhere), used cheap fake wrought iron w/o powder-coating around the pool (which rusted out in 2-3 yrs), didn’t seal about the pool deeply enough, bought cheap pool heater/filter, didn’t support the balconies properly, didn’t install rain gutters/downspouts … and the list goes on … and on. The HOA land might even be draining onto other public or private property and the Assn may be facing govm’t-imposed fines for this. HOA’s are often mired in unexpected (often emergency) repairs and then legal fees (when they decide to sue their developer and all their subs) for construction defect issues.

When indiv townhome owners eventually rip up their carpets and find cracks in their slabs (due to improper grading and infill), many stop making mtg payments, taxes and/or HOA dues. Hence, an assn’s mgmt is constantly in small claims court obtaining judgments against delinquent homeowners who are in many cases overmortgaged. Due to this factor and the fact that an HOA doesn’t want to own any units, they don’t foreclose their lien(s) and typically don’t get pd until a delinquent unit reverts back to bene and the dues are caught up or they agree to take a short-pay on a short sale (rare??). Some owners are paying their mtgs but NOT their HOA dues.

This is not a “doomsday scenario.” Condo assns are faced with these intractable problems much more often than not.

Also, landscaping mat’ls and labor and well as other trades svcs have increased over the years due to increased worker’s comp premiums. HOA’s can’t hire an unlicensed svc co or individual (relative?) handyman/carpenter (like an SFR owner can), no matter how talented they are, due to liability issues. It’s not uncommon for a special assessment to be more than $2,500 per owner, esp in a small complex.

[Author]

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