May 25, 2010

Stoneybrook Buyers Hit With $4,000 Fee

Homeowners associations have been struggling to make up for thousands in dues lost when homes sit empty for months, waiting for foreclosure.

Two Orange County golf-course communities have decided to make their new residents foot that bill. Buyers in Stoneybrook West in Winter Garden and Stoneybrook East in east Orange County have to add $4,000 to closing costs - mostly for dues that went unpaid by previous owners while the houses were in foreclosure for more than a year.

The so-called "resale capital contribution" doesn't sit well. Typically, buyers in those communities would pay $1,000 to move in, but the fees were increased as the housing crisis deepened.

Read full story from Orlando Sentinel.com

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