HOA Nut House

I found this interesting I am in the same boat and I just bought my townhouse. Went to my first meeting to find we are 10K in rears and the HOA is broke over half our owners dont pay and they don't bother to call either or make payment arrangments. I took a board position what a whack job I must be! I stepped in to a pile of problems in the community. It's too bad I pay my dues! I expect if there is a problem that is the HOA's responsiblity they will handle it. That is not taking place there is no money! We now after living here 4 months found out we have a 10% foreclosure rate and the property values are dropping. Why should I pay my neighboors insurance premiums for him? That is what is happening the money that is coming in barley pays for the lawn care and insurance! The good news in we have a new managment company as of August we shall see if they do a better job then the last. We have no choice but to file liens and force lock outs! Last management company left us BROKE!

Rockford IL

Consider dismantling the HOA. This socialist experiment with governance that has no checks and balances between Executive, Legislative and Judicial hopefully has had it's day.
Or, have the management company teach those people who haven't paid, their lesson.

BTW - the 10% foreclosure rate? Gosh, your community is spared! How about double that? or quadruple that?
What does foreclosures have to do with you? Oh, you think that the HOA can "maintain property values" in a market slump?