Bulletproof Your Homeowners Association’s Funds Against Fraud – Pt. 2
Last week, we gave tips to bulletproof your HOA against embezzlement and asked, “Who is guarding the guardians?” This week, we continue our discussion about HOA fraud and how to protect your investment. Frank Abagnale, one of the nation’s most respected authorities on the subjects of forgery and embezzlement, knows about thievery. He was credited […]
Bulletproof Your Homeowners Association’s Funds Against Fraud – Pt. 1
Last week, we discussed some clues that your HOA might be the victim of embezzlement. This week, we give tips to bulletproof your HOA against embezzlement and ask, “Who is guarding the guardians?” Unless boards are vigilant, the answer is: “No one. No one is watching. Absolutely no one and nothing.” There are no state […]
Clues That Your HOA Might Be The Victim Of Embezzlement
Last week, we talked about the ways that your HOA can unwittingly be stripped of their monies. This week, we talk about the signs that your HOA might be the victim of embezzlement. There are many clues to embezzlement, but the primary clue that theft or misappropriation of funds is occurring is secrecy. Any board […]
The Many Names For Theft Inside Your HOA: Part TWO
Last week we covered: the kickback, overbilling, expense padding, volunteer compensation and underreporting income. In the final installment of this two-part series, we continue highlighting common examples of how HOA’s can unwittingly be stripped of their monies: Overreporting expenses. Owners should beware when financial statements show an exaggerated amount for recurring regular monthly expenses. For example, […]
The Many Names For Theft Inside Your HOA: Part ONE
In this two-part series, we will highlight common examples of how associations can unwittingly be stripped of their monies: The kickback. This widespread act of dishonesty is one of the most prevalent forms of embezzlement because it is extremely difficult to spot. Kickbasks can occur in any association – large or small, self-managed or professionally […]
FL HOA (Poinciana) Attempting to Become a Municipality
The HOA, Association of Poinciana Villages (FL), wants to become a city. In fact, a group of residents have been attempting to become a municipal corporation for several years. Poinciana Incorporate Now Citizens Home Organization (PINCHOS) has completed a feasibility study submitted to Florida Legislature in August. It seems as though the large subdivision of […]
PARScore® FINE-TUNED TO EVALUATE CONDO ASSOCIATIONS & HOAs BETTER (Pt. II)
Is your condominium, or the one you are planning to buy, up to PAR? With the condominium market now reviving in Chicago, the Private Association Rating report, or PARScore®—a high-tech data-driven analytics process that helps condo buyers evaluate their home purchase in advance—is becoming more and more popular among consumers. “The PARScore® is similar to […]
PARScore® FINE-TUNED TO EVALUATE CONDO ASSOCIATIONS & HOAs BETTER
The newly designed, consumer friendly 2015 PARScore® report now features a comparison algorithm: “How does your association compare?” The technology also utilizes geo-coding with longitude and latitude satellite reporting. “Just because you live in the Gold Coast doesn’t mean your building will have a 24-karat gold PARScore®,” noted Benson. “Wealthy neighborhoods can be an asset […]
TRID RULE FOR MORTGAGE DISCLOSURE HELPS HOME BUYERS GET SMARTER
If you are planning to start home-loan hunting to finance the purchase of a new or existing dwelling now or in 2016, better clip this article and keep it so you avoid becoming a mortgage dummy. Once you wade through the alphabet-soup the federal government uses to describe the nation’s newly revised mortgage-application process, understanding […]
The Myth of the Homeowners (& Condo) Association “contract”
By Deborah Goonan, Independent American Communities blog http://independentamericancommunities.com/ In a recent discussion forum on rules regarding display of flags in Common Interest Communities (aka Homeowners Associations), there was some vigorous back and forth about the fact that Association-controlled communities are controlled primarily by the CC&Rs (or Declaration of Condominium) contract, rather than Constitutional law. The […]