F@ck condo fees

[naplesE30]

sounds like life to me, suck it up bro. if you don't like it, move out. nobody is holding you down.

HOA should be optional, it isnt a law, therefor you should be able to tell them to cram their fee's up their ass. if that doesn't work, re-read first sentence in my post.

Spoken like a true sophmore. If we could get out believe me we would. Ownership has its pitfalls. When you buy any condo you are bound to the bylaws and dues of the HOA.

Actually, the condo is only in my wifes name as she owned it prior to our getting married. We could walk from it and only her credit would take a hit as I am not on the loan. But, whatever loss the bank took they can come back and collect it from you after they sell it. Also, its not the right thing to do, and I would feel extremely guilty walking from it, and putting that much more on my neighbors who are mostly good people.

Dave you did well to get out when you did.

[ragged325]

Spoken like a true sophmore. If we could get out believe me we would. Ownership has its pitfalls. When you buy any condo you are bound to the bylaws and dues of the HOA.

Actually, the condo is only in my wifes name as she owned it prior to our getting married. We could walk from it and only her credit would take a hit as I am not on the loan. But, whatever loss the bank took they can come back and collect it from you after they sell it. Also, its not the right thing to do, and I would feel extremely guilty walking from it, and putting that much more on my neighbors who are mostly good people.

Dave you did well to get out when you did.

I know I'll get flamed by a bunch of 20 year olds for this, but you should get out of that pronto. You're throwing your financial future away if you stay there. When the bank (not you) bought that place for $220K, they had real estate experts advising them on potential market conditions.

They wrote the agreement you signed that said that they got the place if you stopped paying. * They knew the real estate laws better than you and made the agreement/deal with their eyes wide open. If you paid on that place for 28 years and then stopped because of a health condition, they would still take the whole place even if you owed $10K.

You made a deal that gave you the option to bail if the thing went to shit. If you don't use that option, you're making a mistake. Your net worth is taking a $170K hit (+ condo fees). The other people in your assn. already figured this out. Wake up.

[flame] . . .


*I'm actually not certain of how the real estate laws work in FL.

[Dave]

Two things to look into as back up/escape route . . .

Short Sale

Deed in Lieu

If you need to bail, most lenders will let you off the hook for the shortfall if you go one of these routes. Usually, they require you jump through some hoops and make a good faith effort to sell first.

[naplesE30]

We are trying to negotiate a deed in lieu right now. We are current as of now and BoA wont deal with us until we fall behind. Big decision, and no turnning back. Wifes credit is perfect and having a foreclosure on her credit could come back to bite us in the ass down the road. We dont want to close any doors to our future by screwing up her credit.

[TheEtaUnderdog]

Just a heads up, down markets happen, your home value will come back, despite what the doomsayers speak.

I bought mine for 170 last year, and they are at 150 now, 3 years ago they were 330. And in 2001 they were at 110. It's all a cycle, just hold out

As for the HOA, i don't know why everyone hates them, i love mine. keeps my neighbors from making there places look like shit and killing my home value. If you don't like what happens, get on the board, simple as that. And when you buy your place, you go in knowing there's an HOA and fees, don't pay em and here comes the liens.

just my two cents

[mrsleeve]

t

As for the HOA, i don't know why everyone hates them, i love mine. keeps my neighbors from making there places look like shit and killing my home value.

bet you like Communism too dont you????

[TheEtaUnderdog]

bet you like Communism too dont you????

yes, thats exactly like communism. btw, did you pick up your welfare check today?

I'm pretty sure no one made my neighbors buy their homes with a gun to their head. The goal of the HOA is to maintain property value of an area. Sorry for the people who can't afford it

[mrsleeve]

Oh what a whity retort

I will deal with this when I get back in form WORK in about 13-14 hours Ta Ta

[mrsleeve]

ahhhhh fucking double post

[naplesE30]

We are current, but I never thought our HOA would be ove 600 a month. It was 230 a month when we bought. My wife is on the board so I know the money is not being spent nilly willy. Basically bills come in for lawn etc and they have to be paid, since less then 50% are paying we pay a lot.

[Good & Tight]

FL real estate is so fucked up right now, my brother in law is in the same situation with his condo, he stopped paying HOA and his mortgage 3 months ago. He's just going to walk away and I now other people have done the same.

[Massive Lee]

We are current, but I never thought our HOA would be ove 600 a month. It was 230 a month when we bought. My wife is on the board so I know the money is not being spent nilly willy. Basically bills come in for lawn etc and they have to be paid, since less then 50% are paying we pay a lot.

The logic is that condo fees are paid by condo owners. Right. If banks own 70% of the condo, then 70% of the fees shall be paid by the banks. It was their fault to allow people with low credit to buy condos, now they have to pay for it. It's not your fault. When banks will sell the condos, they'll have to add all the fees that piled up... Ask a lawyer. You have a contract related to condo fees. Don't you?

[Scotaku]

you are paying for what others cant! that is complete bs... is that in your contract?

So I suppose you've already written to Senator Kerry's office and informed him you're against any sort of universal government healthcare tax? Right on!

Be sure to send one to Senator Kennedy's office to for whomever your governor appoi... oops, whomever your Democratic Party tricks you into voting for.

[Massive Lee]

You guys don't seem to understand that those who stay at the condos are not paying for those who can't. They are paying for those who don't want to pay. The banks. They are the owners.

[nando]

HOAs suck, and they're rarely effective at making people "clean up" their yards. $600 a month is rediculous in any case. the HOA at my other house is like $200 a year, goes to pay the bills for the street lights and maintenance.

having space FTW. My neighbors are all really nice and the best part is, I never have to talk to them if I don't want to. Everytime I go back to my other house to pick up mail I remember how much I hated living in a housing development. Especially since the mantra these days is literally "go play in the street". Yeah, wouldn't want them to go play in the huge fucking field right next door...