Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Gated FL neighborhoods fighting Section 8 tenants
http://www.sun-sentinel.com/fl-high-hud-rentals-20120907,0,5925621.storyHere's an odd side effect of South Florida's foreclosure crisis: Some immense homes with pools and three-car garages in gated communities are being rented out to unlikely tenants — poor people paying with Section 8 aid.
Among the properties are homes with up to 4,500 square feet of space in private communities with guardhouses and regal names such as "Monarch Lakes" and "Bellagio at Vizcaya."
Some of the owners are teetering on foreclosure and gambling they can earn enough money from the federal housing vouchers to stave off the banks. Others bought the properties cheap in foreclosure auctions and want the guaranteed rental income.
Housing advocates and the government view the turnabout as a win-win for homeowners and the poor, who have access to safer communities and better schools.
But some neighbors are aghast.
After a single mother and her nine children rented a house in the exclusive Isles neighborhood of Coral Springs, the homeowners association adopted an amendment to its governing documents stating: "No Section 8 or government leasing assistance is permitted."
The association is threatening eviction.
Among the properties are homes with up to 4,500 square feet of space in private communities with guardhouses and regal names such as "Monarch Lakes" and "Bellagio at Vizcaya."
Some of the owners are teetering on foreclosure and gambling they can earn enough money from the federal housing vouchers to stave off the banks. Others bought the properties cheap in foreclosure auctions and want the guaranteed rental income.
Housing advocates and the government view the turnabout as a win-win for homeowners and the poor, who have access to safer communities and better schools.
But some neighbors are aghast.
After a single mother and her nine children rented a house in the exclusive Isles neighborhood of Coral Springs, the homeowners association adopted an amendment to its governing documents stating: "No Section 8 or government leasing assistance is permitted."
The association is threatening eviction.
snip
Professional poker champion Michael "The Grinder" Mizrachi and his family were not so lucky. Mizrachi, who has won $14 million in tournaments over his career but faced early financial challenges, not long ago rented his five-bedroom, 3,000-square-foot home in Miramar's gated Bellagio at Vizcaya neighborhood to a woman in the Section 8 program and her six children.
The government paid Mizrachi $2,236 a month, the woman paid $177, housing records show.
"It was a bad choice to rent such a huge home to a lady that didn't take care of it," said Mizrachi's wife, Lily.
Inspection records show the kitchen sink fell through the countertop, the home became infested with roaches, and the carpets needed cleaning. The tenant moved out.
"A $4,000 rug I installed had to be torn apart," Lily Mizrachi said. "I had to spend over $2,000 in extermination."
Michael Mizrachi had bought the house in 2005 for $440,000 only to watch it plummet in value. The lender moved to foreclose in 2009 but agreed the following year to drop the case and modify the loan, court records show.
more at link
The government paid Mizrachi $2,236 a month, the woman paid $177, housing records show.
"It was a bad choice to rent such a huge home to a lady that didn't take care of it," said Mizrachi's wife, Lily.
Inspection records show the kitchen sink fell through the countertop, the home became infested with roaches, and the carpets needed cleaning. The tenant moved out.
"A $4,000 rug I installed had to be torn apart," Lily Mizrachi said. "I had to spend over $2,000 in extermination."
Michael Mizrachi had bought the house in 2005 for $440,000 only to watch it plummet in value. The lender moved to foreclose in 2009 but agreed the following year to drop the case and modify the loan, court records show.
more at link
