$2.5 BILLION JOB CREATION, FORECLOSURE FRAUD PREVENTION
Hunger Strike 7th Day: Protest Foreclosure Fraud by Homeowners Associations (HOAs)
So far, Senator Dianne Feinstein's office has responded. I would like to see Congress act on this.
STATE OF EMERGENCY: HOA FORECLOSURE FRAUD ON FEDERALLY-SUBSIDIZED LOANS SHOULD BE DEEMED A FEDERAL CRIME
When homeowners associations fraudulently foreclose, the federal government is hit with multiple losses: losses on federally-subsidized loans (Fannie Mae, Freddie Mac, FHA, VA), losses on government assistance to HOA fraud victims, and lost tax revenues. Since HOA fraud adversely impacts the federal government (U.S. taxpayers), HOAs should be federally regulated.
HOA FRAUD IS AN UNREGULATED BILLION DOLLAR PROBLEM
Nevada State Senator Michael Schneider warns that homeowner association fraud runs into the billions of dollars. http://www.youtube.com/watch?v=ReXcYNwe-dU (counter 1:14, 5:30)
PROPOSAL:
$2.5 billion ?self-funded? yearly budget to create a federal regulatory commission (or use an existing commission such as the Securities Exchange Commission) for the federal regulation of homeowners associations. The $2.5 billion self-funded budget would:
1. Create Jobs
2. Prevent Fraudulent Foreclosures & Defaulted Loans (e.g., Federally-Subsidized Loans)
3. Prevent Tax Fraud
4. Prevent Fraud, Fewer Victims & Less Need for Government Assistance & Relief
5. Prevent (and Save) BILLIONS YEARLY in Homeowner Association Fraud Across the U.S.!
$2.5 BILLION SELF-FUNDING AVAILABLE FOR JOB CREATION & HOA FEDERAL REGULATION
According to Community Associations Institute (CAI), in 2011, there were 25.1 million properties in HOA-type communities. http://www.caionline.org/info/research/Pages/default.aspx
If 25.1 million HOA property owners each contributed $100 yearly, it could potentially yield a yearly budget of $2.5+ billion to create a federal commission to regulate homeowners associations, create jobs and stabilize the real estate markets. Revenue in addition to the $2.5 billion could be realized by noncompliance penalties and fines.
The $2.5 self-funded proposal for federal regulation of HOAs is a win-win, it will:
1. Stabilize the real estate markets and U.S. economy by providing measures to prevent homeowner association fraud,
2. Keep homeowners in their homes,
3. Increase tax revenues (otherwise unpaid due to HOA fraud),
4. Benefit Fannie Mae, Freddie Mac, FHA, VA (government/U.S. taxpayers-sponsored enterprises) with increased home loan revenue and fewer defaulted loans.
Please consider legislation for the federal regulation of homeowners associations that will prevent fraud, protect homeowners, Fannie Mae, Freddie Mac, FHA, VA, the government and, ultimately, the taxpayers and the U.S. economy, while creating jobs and stimulating the economy.
This is Day 7 of my hunger strike in protest of homeowner association fraud and the illegal foreclosure of my home at Lakeside Plaza Condominium Association, Reno, Nevada due to embezzlement. See Washoe County District Attorney #406539, Reno Police Dept. #08-031672.
I
STATE OF EMERGENCY: HOA FORECLOSURE FRAUD ON FEDERALLY-SUBSIDIZED LOANS SHOULD BE DEEMED A FEDERAL CRIME
When homeowners associations fraudulently foreclose, the federal government is hit with multiple losses: losses on federally-subsidized loans (Fannie Mae, Freddie Mac, FHA, VA), losses on government assistance to HOA fraud victims, and lost tax revenues. Since HOA fraud adversely impacts the federal government (U.S. taxpayers), HOAs should be federally regulated.
HOA FRAUD IS AN UNREGULATED BILLION DOLLAR PROBLEM
Nevada State Senator Michael Schneider warns that homeowner association fraud runs into the billions of dollars. http://www.youtube.com/watch?v=ReXcYNwe-dU (counter 1:14, 5:30)
PROPOSAL:
$2.5 billion ?self-funded? yearly budget to create a federal regulatory commission (or use an existing commission such as the Securities Exchange Commission) for the federal regulation of homeowners associations. The $2.5 billion self-funded budget would:
1. Create Jobs
2. Prevent Fraudulent Foreclosures & Defaulted Loans (e.g., Federally-Subsidized Loans)
3. Prevent Tax Fraud
4. Prevent Fraud, Fewer Victims & Less Need for Government Assistance & Relief
5. Prevent (and Save) BILLIONS YEARLY in Homeowner Association Fraud Across the U.S.!
$2.5 BILLION SELF-FUNDING AVAILABLE FOR JOB CREATION & HOA FEDERAL REGULATION
According to Community Associations Institute (CAI), in 2011, there were 25.1 million properties in HOA-type communities. http://www.caionline.org/info/research/Pages/default.aspx
If 25.1 million HOA property owners each contributed $100 yearly, it could potentially yield a yearly budget of $2.5+ billion to create a federal commission to regulate homeowners associations, create jobs and stabilize the real estate markets. Revenue in addition to the $2.5 billion could be realized by noncompliance penalties and fines.
The $2.5 self-funded proposal for federal regulation of HOAs is a win-win, it will:
1. Stabilize the real estate markets and U.S. economy by providing measures to prevent homeowner association fraud,
2. Keep homeowners in their homes,
3. Increase tax revenues (otherwise unpaid due to HOA fraud),
4. Benefit Fannie Mae, Freddie Mac, FHA, VA (government/U.S. taxpayers-sponsored enterprises) with increased home loan revenue and fewer defaulted loans.
Please consider legislation for the federal regulation of homeowners associations that will prevent fraud, protect homeowners, Fannie Mae, Freddie Mac, FHA, VA, the government and, ultimately, the taxpayers and the U.S. economy, while creating jobs and stimulating the economy.
This is Day 7 of my hunger strike in protest of homeowner association fraud and the illegal foreclosure of my home at Lakeside Plaza Condominium Association, Reno, Nevada due to embezzlement. See Washoe County District Attorney #406539, Reno Police Dept. #08-031672.
I
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