Dear Sir/Madam,
I am a homeowner in a gated community that owns a condo. The name of the community is called Wedgwood Manor Association. I have resided in this place for 4 years now.
I have a major issue with the association in how they collect the monthly assessments from Homeowners like myself. I feel that the association is being deceptive in the manner it collects.
The association works on a balance forward accounting system in which payments are forwarded first towards the outstanding balance. Now if you pay your dues every month and you accumulate a late fee for that particular month, when you pay your next assessment that assesment will go towards the late fee and you will be left with another balance that draws another late fee.
For eample:
1) I pay $300 dollars a month
2) I accrue a late fee of $50 dollars
3) On my my next payment of $300 dollars, they will apply $50 dollars towards the outstanding balance, thus implying that I only paid $250 dollars for that month and than further adding another late fee of $50 dollars.
4) You are now in a hole by $100 dollars. So when you make your next payment the balance goes towards you outstanding balance and you incur another debt of $150 dollars.
Now here is where the real problem starts, they wait till the balance has reached $1000, which may take a couple of months to accrue than they notify you through an attorney that you owe the association this amount of money they are claiming. You can claim that you have always payed your dues on time' but it won't matter to them they will further confuse you by stating that you haven't paid your assessment for several months. Even by drawing on your bank statements and providing copies of your checks that have been cleared they still stick to there demands and threathen you with foreclosing on your property.
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