Jestine Wikenson thought his investment was secure. His house in Palm Beach County, Florida, was almost paid off. His family was happy. He liked his neighbors. His homeowners association (HOA) a privately managed housing development-worked well. The fees were manageable, and he didn't mind its voluminous rules. In short, he felt at home.
Then one day he looked in the mailbox and found out that his HOA was about to sell his house over a debt of $1,335.
"We have a home that's worth almost a million dollars. We've never paid our mortgage one day late," Wikenson says.
"I never imagined that they would do that to someone who was willing to pay." Wikenson had missed a quarterly dues payment in 2021 and forgotten all about it. Apparently, so had the HOA.
Wikenson says he had paid in full for 2022 and 2023, and no one mentioned the unpaid debt. But late in 2023, someone found it, and rather than bring the oversight to his attention, the HOA took legal action. The next thing he knew, he was on the hook for a hefty amount.
Between penalties and the HOA's legal fees, the bill had grown to about $5,000.
"The community we love it. Our kids love it. I would never say anything bad about the community," he says. But in this instance, it "really did not feel like a community. Like you were only as good as your dollar." Wikenson was finding out what a lot of Americans have learned the hard way: There's more to those HOA horror stories than nitpicky neighbors ("your grass is too long"; "your paint is the wrong color").
The fines and penalties that are part of HOA life can add up fast into big debts. Minor disputes, financial or medical setbacks that lead to missed payments, or just an honest screw-up, as in Wikenson's case, can turn quickly into costly court cases. And in the worst scenario, this could cost you your home and all its equity.
This story is from the June 2024 edition of Reader's Digest US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the June 2024 edition of Reader's Digest US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
A Race Well-Limped
A reluctant runner's key to keeping high spirits? Low expectations.
Won't You Be Our Neighbor?
These folks do Mr. Rogers proud
Band of Survivors
Armed with his drum kit, a Holocaust survivor fights antisemitism one musical note at a time
UMM...WHERE'S MY POOL?
All I wanted was some summer fun. What I got instead was a harsh lesson in the rip-off potential of payment apps.
Let's Say Yes!
What started out as a way to get my son to try new foods opened up a world of adventure for my family
A GRIZZLY ENCOUNTER
The bear had its jaws clamped on his friend. There was only one thing to do: tackle.
13 THINGS Go for Gold at the Olympics
THE 2024 Summer Olympic Games kick off July 26 in the host city of Paris, though several of the 41 event venues are located elsewhere in France.
STOP THE RIDE!
AMUSEMENT PARKS ARE MEANT TO THRILL. BUT OFTEN THEY JUST MAKE US SICK. ONE INTREPID RIDER IS ON A QUEST TO FIND OUT WHY SHE'S ALWAYS LOSING HER LUNCH.
Raise A GLASS!
FAVORITE DRINKS FROM EVERY STATE
A Race Well-Limped
A reluctant runner's key to keeping high spirits? Low expectations.