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Crushing the Hoa 101 is not difficult when one understands the fact when the Hoa is threatening to foreclosure, they are lien jumping. We stop that scheme by attacking the mortgage fraud, and or the illegal foreclosure process, and forcing the HOA to share the liability tor the real estate deed fraud issue that lined you up for their illegal HOA scheme. Some folks have a tough time swallowing this game plan because they don’t feel like the game plan related to their case. These folks have their head in the conspirator’s conventional legal system. We have learned how to sue the HOA, as well as the lender (if you are not in foreclosure), and any other parties that signed to assist in the theft of your property. Crushing the HOA 101 teaches you how to take control and how to instigate for other fraud related issues that may be taking place in the HOA.
Common Types of HOA Fraud
As the size and responsibilities of HOAs have increased over the years, the potential for fraud has also gone up. While there can be a wide range of tactics used by unscrupulous board members or management companies to deceive their communities, here are some of the most common types of HOA fraud to watch for.
Theft or Embezzlement of HOA Funds
Embezzlement of HOA funds typically occurs in small amounts over a long period, and in some cases may go undetected for years or even decades – the average time is about 18 months. With HOA funds this could happen as a digital or physical withdrawal by an authorized person to their personal account or fake business account created for stealing funds.
Intentionally Lying on HOA Finances & Documents
There are numerous ways someone can lie or alter HOA documents for personal gain. For example, a manager, employee, or board member might inflate the number of items purchased on an invoice or return a purchase they have been reimbursed for and pocket the extra cash.
Bribes & Kickbacks
Often, board members control lucrative contracts for local vendors. Kickbacks can occur when a single board member, or group of members, conspire to receive gifts, favors, or money from a contractor in exchange for HOA contracts.
How HOA Fraud Impacts a Community
When any form of theft occurs within an HOA, it can have far-reaching impacts. Funds can be recovered by insurance or through other legal means, but this isn’t always the case. In some instances, it can be years before complete restitution is made. In the meantime, your association will have to continue to operate and pay their bills in full. Worse yet, when large scale fraud occurs, it may impact your association’s ability to borrow money or continue to operate in the same way it did in the past.
Signs HOA Board Members Might be Stealing
Every member of an HOA board should be on the lookout for potential fraud. Some of the most common signs of HOA fraud include:
- Bank statements & balance sheets that don’t match
- Payments made to vendors that don’t exist or who are not qualified for the services provided
- Multiple, or unusually high, payments for unbudgeted purchases
- Unnecessary repairs being made
- Suspicious looking or forged signatures appearing on HOA documents
- Lack of support for reimbursement requests, credit card statements, or general check requests
How to Investigate Suspicious HOA Activity
If you suspect theft or fraud has taken place within your association, then there are steps you can take to protect yourself. If you’re a board member, consider gathering any documents that may confirm your suspicions. Honest mistakes can happen, but it’s critical you have a paper trail to establish any potential claims of fraud before the documents could be lost or destroyed.
Depending on where you live, homeowners and board members may have the right to request HOA documents, including information on financial statements, reserves, and audits. It may also be within your powers, depending on your association bylaws, to call a special meeting to discuss the possibility that theft has already occurred. In some cases, law enforcement should be involved. In these instances, you can report a theft to your local sheriff’s department for investigation.
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