The owner of the property is responsible for all taxes and fees (including HOA). When a bank takes back a property, it assumes all the the costs of ownership.
The problem for HOA's is that the banks typically do not pay the HOA fees until the property is resold, and then the HOA gets all...
Roubini today predicted DOW will continue to drop to 7000 level over the next several weeks although a market meltdown poses risks of a 20% drop in one day.
There are times you need a government and this is one of them.
Government is the only one with deep enough pockets to fix the banking crisis.
If we just let all the big banks fail it would be a total disaster.
That said, if this were China, a lot of rich douche bags would be...
What is the real story here?
Is this an opportunity due to the credit crunch. Are institutions such as colleges that can't access their money market funds which were frozen now dumping their long term equities to pay bills. Are hedge funds selling to pay off their investors pulling out...