orezok
Elite Member
I have a friend that lived in a HOA creates by a large developer (1,000+ homes at buildout) They built the first phase just before the housing crash. Since they owned a larger number of lots than the number that was sold, they basically were the HOA. Carrying costs were killing them so they started making up new rules with exhorbitant fines such as leave your empty trash can out over night or park your car in your drive etc. and get a $250 fine.
It got so bad that my friend ended up being the only occupied house on his block as no one would purchase a house in the sub division. All the rest the people just walked away from their properties.
Yes and the city is currently suing the developer.
It got so bad that my friend ended up being the only occupied house on his block as no one would purchase a house in the sub division. All the rest the people just walked away from their properties.
Yes and the city is currently suing the developer.