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Thursday, November 18, 2010

FORECLOSURES IN MEADOWCREEK

Remember when someone on the old board stated that foreclosure as a means of collection was seldom used? If you read the November 17th Independent and perhaps took a look at the Constable's Sales listed on Page 5, you might have noticed that four (4) Meadowcreek homes are scheduled for sale on the 7th day of December 2010.

One home had an association debt of $198 plus attorney fees and costs and reached an "agreed judgement". The home value is shown as $170,040 and the amount due under the agreement is $2443 plus costs.

Another had an association debt of $149 plus attorney fees and costs and the court awarded a "default judgement". The home value is shown as $129,950, and the amount due under the judgement is $2000 plus costs.

The other two were similar with default judgements awarded in the $3200 range which included $3000 in attorney fees on each.

This shows that someone is less than truthful when asked about Association foreclosures. It also shows how a homeowner can lose their home over what many would consider an insignificant sum (before the attorneys get involved).

Kinda makes you want to cry - a family home put up on the auction block during what can only be considered difficult times. Remember - yours could be the next victim of this travesty.

1 comment:

  1. This is the sad reality of the "bottom feeders" and the industry that has been created for them and enforced by the courts and state legislature. Amazing that the 16th amendment section 50 of the TX constitution can be so easily ignored these days by those who have taken power from the middle class taxpayers and homeowners.

    Keep shining the light!

    ReplyDelete

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