ORANGE COUNTY, Fla. — An Orange County homeowners’ association (HOA) is taking some drastic measures to make up its financial shortfall. The HOA at Stoneybrook East and West is tacking on a new $4,000 fee for foreclosed homes sold in the subdivision.

Some homeowners think it’ll make their houses even harder to sell because of the bad real estate market.

via HOA Tacking On $4,000 Fee To Sold Homes – News Story – WFTV Orlando.

Its no secret that homeowners associations are hurting thanks to the failure / scams of loan modifications promised by lenders but rarely a compromise or even near something that will work.

Statistics have shown that even those homeowners who do receive a modification usually are in a similar situation 6 months down the road, leaving foreclosure the final and only option.
Now I am not a big advocate of loan modifications or walk away short sales but I do recognize what is happening to neighbors who are hit with hard times but still manage to pay the bills, at times when their counterparts could make some cuts and not be in such a bad position….

Now about this article & video available in the link above… I am sure one way these homeowners could assist in making sure the $4000 fee doesn’t slow down their chances to sell is to “NOT FALL BEHIND IN THEIR HOA PAYMENTS“.      What baffles me even more is that NO ONE…. (pause for dramatic affect)……NO ONE… mentioned this in the article, or in the comments. (at least not before I wrote this!)

What I can’t understand is how homeowners can’t make a mortgage payment and can’t make a HOA payment either? Where is the money going…. failing to pay their HOA fees should be considered theft from their neighbors. Profit is not built into the fees. They are not sticking it to the man, they are simply forcing their neighbors, or in this case “New Buyers” with their tab…

WHO views this as fair?
Ok, so hard times do hit families, but to the point that you can’t make a mortgage payment or your HOA payment? ….. for a whole year or more?

Thanks to Jon Stuart from the Daily show, we get to see a great little piece on just how rough it is out there!

no longer does this only affect big business who will likely roll down the cost to you through expenses, but it could just come to affect everyone who currently owns a home and EVER has an intention to sell it.

There is rumor that some of the provisions have changed within the bill that is currently being proposed, but to my knowledge it has not been changed to remove the homeowner provision.
Add to this thought, what happens if your home would pass inspection today, but 10 years from now, what happens if the minimum standards change.

This video is credited to WTHITV 10 out of Texas. Thanks for making it quick & simple… oh! and thanks for reading the proposed bill!

Cap & Trade Proposals regarding Real Estate

Thoughts?     Were you aware this was included as part of this bill?