Change condominium laws in the USA
Many Americans who are at risk of losing their homes to foreclosure are opting to rent so that they can continue to honor their mortgage payments. But all too often, the condominium association bylaws make it very difficult for the owner to rent their properties. As a result, the owner is often forced into foreclosure. Imagine… You buy a condominium and then lose your job and can’t afford to pay the mortgage. Every American knows that housing prices have fallen: the owner may be unable to sell or if they do sell they cannot sell for enough to repay the mortgage. So what choice do many owners facing hard times have other than foreclosure? Answer: they can rent their property. What then if the owner finds that the Condominium Association has the power to stop them? That is the tyranny of the majority.
I have been faced with this situation, as indeed I'm sure have others. With the elections in November, now is the time to approach your representatives about a change to the law allowing owners more freedom to rent their property and avoid foreclosure. A few changes in the housing law would protect many Americans from losing their homes. Home owners need the right to rent short or long term as needed, regardless of onerous Condiminium Association bylaws. Please sign this petition and forward the link to as many people as you know: more names means we can have the freedom to rent our properties, save our homes and avoid foreclosures!