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News Ticker from FNC

Friday, October 12, 2007

Nice to know there's some sympathy there.

KSTP.com - Increasing foreclosures negatively affecting neighbors:

"'You have 12 thieves living inside a 21-homeowner unit who are basically raping the system and not paying their dues,' Rocco said."

And this is why you should avoid Neighborhood Associations at all costs!! This is the President of the Home Owner Association talking about the 11 units which got foreclosed upon so now the former owners aren't paying dues.

What would be so wrong with having each owner responsible for the upkeep of their own property? Bet it would be a LOT cheaper!

What the F are you doing every month that it costs $2000 in maintainance??? I've never spent that much in a month on my house for upkeep....but then talking to my dad, he pointed out that they may be spreading payments for yearly maintance into monthly payments so that it isn't hitting people all at once.

And since the Association already put down what each person needed to pay in writing, basically making a contract, they can't charge the others anything more...so that would make sense with the money.

But still....how callous of a statement could he make???

If you are going to have this attitude then you should be making people pay a yearly rate with the mortgage company collecting an escrow for the coming year but paying the first year into the kitty right away like they do with home owners insurance. Then make the funds non-refundable, non-retropayable so they can't get the money back (okay, that part may cause issues) but then the association will at least have that first year covered until a new tenant moves in.

Where's the love??

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