To save houses from HOA foreclosure, bill would offer up what's inside

Lawmakers considered an usual solution Monday to homeowners association foreclosures -- lose the furniture but save the house.

Rep. Ken Paxton, R-McKinney, proposed a bill to the House's Business and Industry committee that would help homeowners pay late dues by offering up some of their property.

"The reality is other creditors have to deal with that," Paxton said. "It does not eliminate foreclosure but provides some intermediary remedies."

Association representatives backed the notion of a payment plan, just not that one. "It would create an administrative nightmare," said Roy Hailey, a real estate lawyer representing the Texas Community Association Advocates.

Homeowner supporters applauded the idea, but pushed lawmakers to ensure residents know their options. The bill would also allow for partial payments until associations get reimbursed.

Committee member Rep. Burt Solomons,R- Carrollton, who has watched stalled HOA legislation for years, issued a self-proclaimed "annual rant" to bill opponents.

"Since property management companies seem to be running rampant -- we don't even know how many there are in the state -- we are reaching now because we cant get anything passed," he said.

Committee member John Garza, R-San Antonio, suggested community service as another means of repayment.

The comment elicited a smirk by chairman Joe Deshotel, D- Beaumont, "I'm such a cynic," he said. I'm thinking of this going into the indentured servitude business."

They left the bill pending.

Source: http://trailblazersblog.dallasnews.com/archives/2011/04/to-save-houses-from-hoa-forecl.html

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