Coral Lake Community Are Resenting Imposition Of Fees For Adjacent Foreclosed Houses

The residents of Coral Lake Community are resenting the imposition of fees for expenses related to adjacent reo properties. The house owners are complaining that recently they have been burdened with a special assessment bill amounting to $650 that has been included in the dues of their association.

Not taking it lying low, the residents confronted Engle Homes who is the developer and also other important members of the board of the house association. Kelly Weeks, one of the residents complained, “Now a $650 assessment, they’re calling it, gave us 2 weeks to pay it, by December 31st, or our amenities are shut off.”

Jay Coughlin is the President of the association admitted that this particular community like many others in south western Florida has been badly hit by foreclosures. As such extra fees are imperative to allow the association to be free from debt. Many reo houses are lying vacant largely because of foreclosures. And without their share coming in, the financial situation of the association has worsened. Over the previous two years their contribution has been $500,000. He added, “Its tough times we’re all in it together, we’re contributing more than we’re required to do, we’re doing the best we can to keep costs down.” Engle Homes is hopeful that the association will be able to reimburse some of the extra fees that are being levied by the following year. This of course is conditional on the association avoiding accumulating further debts.

The house owners are also under the shadow of the economic gloom. They say that the times are very bad and do not know how much longer they can continue to keep up with this sort of monetary pressure.

Kelly Weeks feel strongly for the place she stays in. She said, “It’s a wonderful place to live and I don’t want to leave here, but if these fees keep happening, I won’t have a choice, like everyone else. People are actually afraid they are going to lose their homes.”

The developer is reported to have said that he was agreeable to turning over the bigger share of the run of the association board to the house owners. He felt that if this was done they would be more sympathetic about the situation and be more responsible for budgetary demands.

Across the country the foreclosure crisis has created this atmosphere of distrust and tension everywhere.

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