man HOA making everyone pay $10k suddenly

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Current Events » man HOA making everyone pay $10k suddenly
No payment plan options either lol, due July 1st. I thought this was insane, but I see some people on reddit talking about getting hit w/ special assessment fees of 100k+ and losing their home, so guess im lucky...?

Please don't post about how it's my fault for living under an HOA, I don't have any other option in my area
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#middleclassfancy
Yeah HOA suck, I hear they can basically steal your house by putting fines on you for small things, but charge huge interest then buy your home for like $1. It seems like a huge scam, but sadly they are most everywhere now.
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RIP Man HOA
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Im guessing its a special assessment fee. Which Ive had when my HoA said they had to fix our roof for the townhouse unit I live in.

my best advice would be to make sure you have a high enough amount for special assessment fees in your insurance plan.
So kind of like renting

And yeah something like 80% of new homes are under HOA
HOAs are such a cancer.
The difference between fiction and reality is that fiction has to make sense.
HOAs are a fucking blight
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TeaMilk posted...
No payment plan options either lol, due July 1st.

"Or else," can't possibly be legal, even with the arsenal of bullshit an HOA is allowed to pull.

Did they say what it's for, or why there's such an unreasonable deadline with no method to pay it down over time?
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Subject-verb agreement. -- t3h 0n3
So glad our house isn't in one. Number one requirement to our realtor was "No HOAs"
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Hejiru posted...
HOAs are such a cancer.
It's about 3% legitimate use and concerns, the rest of it is clique-y high school bullshit and desperation for any sort of power, no matter how petty.
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Bleuets posted...
Im guessing its a special assessment fee. Which Ive had when my HoA said they had to fix our roof for the townhouse unit I live in.

my best advice would be to make sure you have a high enough amount for special assessment fees in your insurance plan.
I didnt think home insurance covered this? I am pretty sure I just pay insurance as part of my mortgage and this $10k comes from out of pocket

DnDer posted...
"Or else," can't possibly be legal, even with the arsenal of bullshit an HOA is allowed to pull.

Did they say what it's for, or why there's such an unreasonable deadline with no method to pay it down over time?
Idk lol they're threatening if you don't pay it in their PDF https://gamefaqs.gamespot.com/a/forum/8/86435e77.jpg

And yeah its for roof/gutter repairs. I mean its probably necessary and maybe I would have had advance warning if I'd gone to the HOA meetings. But I'm pretty sure no one in the community attends them
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Oh I should also mention they "lost" like 300k in reserve funds earlier thjs year because one of the board members accounts went inactive and got collected by the state treasury somehow?
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**** HOA , sorry man.
http://spinsulin.freeforums.org/the-fantastic-four-respect-thread-t4436.html, my huge ass respect thread. You won't see it.
TeaMilk posted...
Oh I should also mention they "lost" like 300k in reserve funds earlier thjs year because one of the board members accounts went inactive and got collected by the state treasury somehow?

I'd probably be contacting the local news to dig into this.
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TeaMilk posted...
Oh I should also mention they "lost" like 300k in reserve funds earlier thjs year because one of the board members accounts went inactive and got collected by the state treasury somehow?


If accounts go idle and turn into Unclaimed Property -- just have that member get it back. There's a limbo period of at least a year where it's held by the state, but still 100% recoverable.
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They are repairing your roof?
I would rather live in a studio apartment for life than own a HOA house.
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Rosstin316 posted...
I would rather live in a studio apartment for life than own a HOA house.

I would, too, if it were possible to get a studio apartment where I live for as low as my mortgage.

My HOA threatens this kind of shit all the time, but has never done it. I don't think anyone pays any attention to anything they say.
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I fucking hate HOAs, and in a lot of areas it's becoming impossible to avoid them, too.
My property was advertised as "no HOA" and later on was told it had HOA covenants (basically laws, except no legitimate government issued them). But because there's no HOA board or HOA fees, the seller could legally call it "no HOA".

theAteam posted...
I'd probably be contacting the local news to dig into this.
This. Sounds insanely illegal, even by the extremely low standards of what governments let HOAs normally get away with.
WingsOfGood posted...
They are repairing your roof?
Well the buildings roof, im on the 1st floor lol

Rosstin316 posted...
I would rather live in a studio apartment for life than own a HOA house.
Id be fine with that if I lived alone >_> this isn't even a house either, 2br condo unit
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get a lawyer take them to court?
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theAteam posted...
I'd probably be contacting the local news to dig into this.

This
"It's a simple question, Doctor: would you eat the Moon if it were made of ribs?"
HOA is cancer they do what they want and can take your house and auction it for HOA fees thats crazy
I love not being part of an HOA
Don't like it? Don't watch it. It's that simple
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Feel like this would lead to a lot of deaths.
lolAmerica
I'm going through a similar thing: they want $4500 by May 14 for extra dryrot repairs after their renovations last year found extra damage, but we have the "option" of going on a payment plan. I'm furious, but if I have no other choice, there's the payment plan option which is why I feel I wouldn't have a case if I got a lawyer.

Not being allowed that has got to give you some kind of case to fight this.
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littlebro07 posted...
So glad our house isn't in one. Number one requirement to our realtor was "No HOAs"

Yeah my house isnt and going forward I will never live in a HOA. Which kinda sucks because in my area most new houses are cheaper than used houses around the same size.
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On the one hand, many HOA's suck

On the other, you signed an agreement when you bought the house, so if there are rules within the HOA that you aren't following, you're kinda fucked
he/him/his
Are the poster who said there was a jackass blocking your driveway?
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I didnt think home insurance covered this? I am pretty sure I just pay insurance as part of my mortgage and this $10k comes from out of pocket

they definitely do, provided you have the right policy. Townhouse insurance is a bit different from home insurance. I had to do this for hail damage on my roof.
Trumpo posted...
Are the poster who said there was a jackass blocking your driveway?
Yes <3 HOA never helped me. I just put a bigass cone in my driveway and don't have to deal with it anymore

The parking deal is just so weird I don't even know what to think... my gf saw that neighbor recently pulling his car out of a different neighbors garage?? He also keeps getting NEW bmws. And has weirdos knocking at his door for 10 mins straight at weird hours
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TeaMilk posted...
Yes <3 HOA never helped me. I just put a bigass cone in my driveway and don't have to deal with it anymore

The parking deal is just so weird I don't even know what to think... my gf saw that neighbor recently pulling his car out of a different neighbors garage?? He also keeps getting NEW bmws. And has weirdos knocking at his door for 10 mins straight at weird hours
Sounds like he is a drug dealer.
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Lonestar2000 posted...
Sounds like he is a drug dealer.
Thats what I assumed lol. Doesn't mean he has to be an inconsiderate asshole
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How the fuck are HoAs even legal? Like you just bought and OWN your house but some uppity bitches in the neigborhood get to decide how you live there? Fuck that shit
I don't want this man's life, I want his sandwiches.
Lukey_Bug posted...
How the fuck are HoAs even legal? Like you just bought and OWN your house but some uppity bitches in the neigborhood get to decide how you live there? Fuck that shit

They exist because someone needs to be in charge of maintenance and repair of common spaces, snow removal, etc.
he/him/his
Euripides posted...
They exist because someone needs to be in charge of maintenance and repair of common spaces, snow removal, etc.

So shouldn't the townships be in charge of that for stand-alone communties? And whoever owns the land the condos are on? I don't see why there needs to be a self governing agency in places like that
I don't want this man's life, I want his sandwiches.
Lukey_Bug posted...
So shouldn't the townships be in charge of that for stand-alone communties? And whoever owns the land the condos are on? I don't see why there needs to be a self governing agency in places like that

In the case of condos, once the condos get turned over to the HOA, there is no land owner anymore
he/him/his
sorry you dont live outside of a HOA so that you can let your investment degrade and never have to take care of it until it falls apart around you.
Now or never.
shironinja posted...
sorry you dont live outside of a HOA so that you can let your investment degrade and never have to take care of it until it falls apart around you.

Can't tell if this is satire
THRILLHO
TeaMilk posted...
Oh I should also mention they "lost" like 300k in reserve funds earlier thjs year because one of the board members accounts went inactive and got collected by the state treasury somehow?
Fucking lies
All posters and events depicted in this post are entirely fictitious. Any similarity to actual events or posters, living or dead, is purely coincidental.
Euripides posted...
In the case of condos, once the condos get turned over to the HOA, there is no land owner anymore

Well Im glad I bought my own house outside of something like that. Sounds like a nightmare to deal with
I don't want this man's life, I want his sandwiches.
Lukey_Bug posted...
Well Im glad I bought my own house outside of something like that. Sounds like a nightmare to deal with

My first home purchase was in a condo. When we bought, the developers were still rehabbing/selling units, so they were in charge of all the costs associated with the building. Once they turned it over to us, we quickly realized that the HOA fees they were charging new buyers was WAY too low to cover the actual costs, so of course the condo board (of which I was a member) immediately got off on a bad foot when we had to raise the fees
he/him/his
shironinja posted...
sorry you dont live outside of a HOA so that you can let your investment degrade and never have to take care of it until it falls apart around you.

https://independentamericancommunities.com/2019/06/18/new-research-busts-myth-that-hoas-protect-property-values/

Unlike previous research, which analyzed home sale prices of HOA vs. non-HOA homes, this study examined the percent change in a homes value over time. It then compared appreciation rates of properties in HOA and non-HOA communities.

Comparing a homes most recent sale price to its previous sale price, Robertson determined the Annual Percentage Return (APR) for each home in the random sample of three Counties selected.

The data reveal something unexpected by many in the HOA industry. According to the data, homes that are not governed by HOA covenants, restrictions and rules increased in value, on average, at a significantly higher rate than homes located in HOA-governed communities.

Put another way, properties in HOA-governed communities have a lower return on investment than homes outside the boundaries of HOAs.

And, as Robertson aptly points out, his data analysis does not factor in the payment of HOA assessments and fees over the course of property ownership. That, he says, would further reduce annual percentage return on investment for homes in HOA-governed communities.

In other words, Robertsons research offers more hard evidence that HOAs do not result in higher property values in relation to homes in non-HOA communities.

Womp womp!
Got any other lies to peddle?
streamofthesky posted...
https://independentamericancommunities.com/2019/06/18/new-research-busts-myth-that-hoas-protect-property-values/

Womp womp!
Got any other lies to peddle?
Someone bootlicking HOAs should be taken as a joke.
All posters and events depicted in this post are entirely fictitious. Any similarity to actual events or posters, living or dead, is purely coincidental.
Euripides posted...
They exist because someone needs to be in charge of maintenance and repair of common spaces, snow removal, etc.

I thought they existed because someone has to keep the "Wrong People" out of the neighborhood and letting the place fall to ruin.
What has books ever teached us? -- Captain Afrohead
Subject-verb agreement. -- t3h 0n3
Mistere_Man posted...
Yeah HOA suck, I hear they can basically steal your house by putting fines on you for small things, but charge huge interest then buy your home for like $1. It seems like a huge scam, but sadly they are most everywhere now.
Obligatory:
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When I was house searching, my list for my realtor was :
  1. No HOA
  2. No HOA
  3. Central Air
  4. Finished Basement
  5. No trains
  6. See 1-5
I guess I'm something of a ne'er do well.
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DnDer posted...
I thought they existed because someone has to keep the "Wrong People" out of the neighborhood and letting the place fall to ruin.

Not how my old one worked, but it was still stupid
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Current Events » man HOA making everyone pay $10k suddenly
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