An HOA Borg Takes Over: A Homeowner Horror Story

Any self-respecting nerd…um, er…I mean Star Trek: Next Generation fan knows that the Borg was a living machine that would gobble up and “assimilate” any alien race or technology it came across – kind of like a cosmic Pac-Man.

Bottom line, the Borg was unstoppable, "resistance was futile."

Although it’s science fiction, the Borg was the first thing that came to mind when I read the NPR story below of a “Borgesque” Homeowner’s Association (HOA) in Texas that gobbled up a home that was already PAID off by the owner’s, yet the owners property was “assimilated” into the collective because they missed a few HOA payments.

http://www.npr.org/templates/story/story.php?storyId=128078864&sc=emaf

I happen to live in an HOA development. If your neighborhood doesn’t have an HOA here’s what one is in a nutshell.

Mortgage Basics: Introduction – Part 1

Owning a home is part of the American dream, and if you have children there tends to be an even greater drive to make that dream a reality.

Very few Americans have the means to pay cash for a home, so borrowing the funds is a necessary evil. However, with low mortgage rates and plenty of existing homes for sale all across the country, the home buying experience is less of a nightmare than it might be otherwise.

If you’ve never bought a home before, or it’s been several years since your last purchase, please read on as we examine mortgage basics in this first in series of articles.