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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (430269)	10/26/2008 1:12:13 PM
From: bentway	Read Replies (2) \| Respond to of 1574485

The condo complex wife and I live in has 353 units. We received a letter from the association stating that 142 of these units are in Lender Foreclosure. They state that all these people are of course not paying their HOA dues anymore....and many others that are not in actual foreclosure YET are following suit as well. Because of this, and to cover their shortfall, they have slapped us with a 1,700 special assessment due within...get this....2 months. If we pay after 2 months, the amount will be 1,950 and if we wait even more, of course they will tack on even more late fees. So let this be a warning to all...and I have mentioned this before....if you are buying into a complex or home development that has an HOA.....be weary ! Many of your neighbors are going into foreclosure or already have...that means YOU will be stuck paying the bill. Refuse to pay it ? The association by law will foreclose on you due to your failure of paying your HOA fees. Renters...do your research as well ! Many renters are getting Lis Pendens (1st notice of foreclosure) in their mailboxes and are stunned that the unit or house they are renting is going into foreclosure. Renters...protect yourself with a contract that has a stipulation in it that allows you to get out of your lease if you are forced out of your unit due to foreclosure. Good luck to all..it's only going to get much worse before getting any better. The only good thing is that home prices are continuing to fall here in Miami, Dade and Palm Beach counties (for potential buyers that is) city-data.com