Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Georgia homeowners describe being terrorized by predatory HOAs, forced to move: Report By: FOX Business May 24, 2024 at 15:01 PM EDT Some Georgia residents are speaking out after facing the wrath of their local HOA, with some being driven to bankruptcy or even having their homes foreclosed on them. Some Georgia residents are speaking out after facing the wrath of their local homeowner associations (HOAs), with some people having their homes foreclosed on them, according to a recent report."It’s totally insane. It’s totally insane," a former homeowner, Tricia Quigley, told WSB-TV earlier this month.Quigley, who lives in Cherokee County in the north metro Atlanta area, learned the tremendous power that the HOA has over her property after she learned that her home of 18 years was sold at a foreclosure auction. HOMES ARE OVERVALUED IN MOST OF THE US – AND THE PROBLEM IS WORSE IN THESE 5 STATESThe price that her home was auctioned for? "$3.25," she added. According to reporter Justin Gray's WSB-TV report, Quigley admitted she missed a pair of HOA payments amounting to $800. She said she paid more than $10,000 as attorneys fees and late fees piled up before finally being forced to foreclose.Quigley is one of many Georgia residents who say they have been terrorized by an out-of-control HOA. "You broke us. We’re broke," Atlanta resident Juliet Graham told the outlet after being forced to sell her condo in Atlanta. "I can’t imagine the mafia having been any worse than what my experience was with this," she said. Graham faced roughly $250,000 in bills with HOA because petitioners are also billed for emails, inquiries and attorneys fees as they try to fight for their homes. GEORGIA'S BOOMING TECH AND STARTUP SCENE IS HELPING ATLANTA BECOME THE 'SILICON VALLEY OF THE SOUTH'In response to complaints about homeowner's associations, Georgia lawmakers are seeking a more permanent remedy to stop abuses against residents. Bipartisan legislation in the Georgia State legislature passed earlier this year to begin the process of changing laws to protect homeowners in the future from having their property taken away from them. "People need to be protected and safeguarded against foreclosures," Georgia State Sen. Donzella James told WSB-TV. "To have some outside group come and take that away to me is un-American," Georgia State Sen. Matt Brass told the outlet. "We're not going to stand for it in this state."Another homeowner in south Fulton County said he was hit with $36,000 in HOA fees, predominately for weed issues in his front yard, and he was forced to declare bankruptcy. When asked how he believed he could get out of his home nightmare with the HOA, McAdoo predicted he would have to leave. GET FOX BUSINESS ON THE GO BY CLICKING HERE"Selling my home and just getting out of this neighborhood," he said. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Georgia homeowners describe being terrorized by predatory HOAs, forced to move: Report By: FOX Business May 24, 2024 at 15:01 PM EDT Some Georgia residents are speaking out after facing the wrath of their local HOA, with some being driven to bankruptcy or even having their homes foreclosed on them. Some Georgia residents are speaking out after facing the wrath of their local homeowner associations (HOAs), with some people having their homes foreclosed on them, according to a recent report."It’s totally insane. It’s totally insane," a former homeowner, Tricia Quigley, told WSB-TV earlier this month.Quigley, who lives in Cherokee County in the north metro Atlanta area, learned the tremendous power that the HOA has over her property after she learned that her home of 18 years was sold at a foreclosure auction. HOMES ARE OVERVALUED IN MOST OF THE US – AND THE PROBLEM IS WORSE IN THESE 5 STATESThe price that her home was auctioned for? "$3.25," she added. According to reporter Justin Gray's WSB-TV report, Quigley admitted she missed a pair of HOA payments amounting to $800. She said she paid more than $10,000 as attorneys fees and late fees piled up before finally being forced to foreclose.Quigley is one of many Georgia residents who say they have been terrorized by an out-of-control HOA. "You broke us. We’re broke," Atlanta resident Juliet Graham told the outlet after being forced to sell her condo in Atlanta. "I can’t imagine the mafia having been any worse than what my experience was with this," she said. Graham faced roughly $250,000 in bills with HOA because petitioners are also billed for emails, inquiries and attorneys fees as they try to fight for their homes. GEORGIA'S BOOMING TECH AND STARTUP SCENE IS HELPING ATLANTA BECOME THE 'SILICON VALLEY OF THE SOUTH'In response to complaints about homeowner's associations, Georgia lawmakers are seeking a more permanent remedy to stop abuses against residents. Bipartisan legislation in the Georgia State legislature passed earlier this year to begin the process of changing laws to protect homeowners in the future from having their property taken away from them. "People need to be protected and safeguarded against foreclosures," Georgia State Sen. Donzella James told WSB-TV. "To have some outside group come and take that away to me is un-American," Georgia State Sen. Matt Brass told the outlet. "We're not going to stand for it in this state."Another homeowner in south Fulton County said he was hit with $36,000 in HOA fees, predominately for weed issues in his front yard, and he was forced to declare bankruptcy. When asked how he believed he could get out of his home nightmare with the HOA, McAdoo predicted he would have to leave. GET FOX BUSINESS ON THE GO BY CLICKING HERE"Selling my home and just getting out of this neighborhood," he said.