This seems to be more reason to stay away from condos!

[Ben S]

Was just reading this article regarding a condo community's HOA dissolving, and the owners - owning roughly 90% of the complex - decides to sell out the community since they cannot afford it. This ends up screwing over the remaining 10% of the condo owners in which they still owe mortgages on, but are squatting in their own homes!

http://consumerist.com/2012/06/condos-sold-without-owners-permission-for-13-their-value.html

Not sure if this is something investors see or have heard before?