This year, that amounted to $921 for most residents. While many — in fact more than 97 percent of them — pay the annual fee by the May 1 deadline, there are those that don’t. And while those unpaid fees represent less than $500,000 of the more than $8 million billed annually, Ocean Pines Association (OPA) officials are serious about collecting the debt. Serious enough that this year the homeowners association purchased the foreclosed home of a resident who owed back dues. The association is now selling the home at market value in an attempt to recoup what the individual failed to pay the association.
“This is one of the strategies we have available to help make us whole with delinquent assessments,” said OPA General Manager Bob Thompson. “It’s not something we necessarily want to do.”
It’s also unusual. Thompson says this is the first time the association has purchased a house to recover back dues. Though officials have considered the possibility before, generally there’s too much owed to the bank on a home to make it worthwhile.
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It's the new normal thanks to Obama and OweMalley.
ReplyDeleteyou have to start somewhere. Go for it.
ReplyDeleteSo the OPA is now going into the real estate business to not only recoup back fees but to make a profit from the sale !
ReplyDeleteGood for them. There is no free lunch!
ReplyDelete$921 for fees, maybe that's what it takes to pay the salaries of those who have taken the home? be careful what you ask for, you just might get it! must be a white person, who's home it was since no one is raising a stink!
ReplyDelete$921.00 wow!
ReplyDeleteassociations are just another police state that tax and steal.
Whatever they ask for this house, it's overpriced.
ReplyDelete