U-C-I-O-A Petition regarding Arizona’s SB1340 ‘fair market’ foreclosures

AZ AdvocacyThe following is an an excerpt from the Petition: 

And whereas in regard to SB 1340, in consideration of all of the above as a scheme to excessively punish homeowners failing to pay assessments, and to intimidate homeowners into compliance with the HOA government, industry specialists continue to oppose the sale of foreclosed homes at fair market value; and whereas the institution of these private governments with misleading pronouncements of creating productive and vibrant communities fail to act as a good citizen of the state and in a socially responsible manner; and whereas such a requirement serves to benefit the HOA since it is in second position and must pay off the mortgage balance; and whereas the HOA in practice discriminates against those homeowners with substantial equity and do not foreclose on those homeowners with inadequate equity;  

It is Resolved, 

That the Senate pass SB 1340 to right the wrongs perpetrated by the Industry sponsored statutes of the Planned Communities Act of 1996, to treat the citizens of Arizona, who are more and more compelled by misguided municipalities to live in an HOA, with the respect and dignity they rightfully deserve, and to provide a just and an equitable relief to the financial difficulties of these homeowners who are forced into positions whereby they cannot make assessment payments and do not intentionally act to not pay their assessments;

The full Petition can be viewed at Petition.

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Published in: on June 8, 2007 at 11:07 am  Leave a Comment  

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