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HOA
Fees Skyrocketing |
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Article Courtesy of CBS 12 News -- West Palm Beach By
Alex Zequeira
April 1, 2009 Foreclosures do
not only affect the folks who lose their homes, but more and more, neighbors are
also taking the brunt of a home lost on their block. They're having to pay extra
in association fees. And in most cases, they have very few, if any options. For the folks
living in the Shakerwood community, in The neighborhood
consisting of 92 homes, has 25 to 30 of those homes empty. That means less
people to pay association fees. "We don't
have many people paying on time or at all. We do have foreclosures, and the
money is not there... I just feel like a victim who has to pay for everybody
else," said Anthony Candusso, a resident. For the most
part, Candusso is right. Contractually, a bank does not have to pay association
fees once foreclosure proceedings have been filed. But residents still have to
pay. "When a
bank is in foreclosure it's not paying assessments... It's not obligated to pay
assessments... So therefore, it's in the banks best interest to drag out the
foreclosure as long as possible," said David Karpinia, an attorney with the
Becker & Poliakoff Law Firm. Making matters
worse, the residents living in Shakerwood, don't enjoy a community pool or a
guardhouse. In fact, in the past couple of years, they've had their street
repaved and that's it. And paying hundreds more in HOA fees, is hurting Candusso
and neighbors financially. "It hurts a
whole lot because my husband just got laid off and I clean houses for a living,
but everyone has left or can't afford me... So I'm not doing anything,"
said Danielle Goldberg. Without
any alternatives, experts say the best thing a resident can do if he or she
finds themselves in this situation is to lobby for new state legislation that
would discourage long foreclosure proceedings and prevent banks from reaping the
benefits that others, have to end up paying for. |