$10 BILLION “SELF-FUNDED” BUDGET PROPOSAL FOR FEDERAL REGULATION OF HOMEOWNERS ASSOCIATIONS (“HOAS”)
Countless federally-subsidized loans are at risk due to homeowner association foreclosure fraud. There is no protection at the state level – therefore, protection needs to happen at the federal level.
This $10 billion “self-funded” 4-year budget proposal would fund the creation of a commission for the federal regulation of homeowners associations. An existing commission, such as the Securities Exchange Commission, would also be an option. This $10 billion self-funded budget would:
1. Keep Homeowners in Their Homes & Create Jobs!
2. Prevent Foreclosure Fraud and Other Financial Crimes by Homeowners Associations (“HOAs”)
3. Prevent Defaults on Federally-Subsidized Loans