Home News 

Story

Rising Foreclosure Rates Cause HOAs To Fall Into Bankruptcy

Posted: 11:21 pm EDT March 13, 2008Updated: 2:10 pm EDT March 14, 2008

The Avalon Lakes Homeowners Association was on the brink of bankruptcy. At one time, it had a $140,000 deficit. The subdivision said people who fell into foreclosure stopped paying their HOA FEES.

“The people that weren’t paying, still aren’t paying and we’re basically paying for them,” said Cynthia Weclew, a homeowner.

There are concerns about what will happen to the communal areas of the subdivisions if the HOAs can’t afford the upkeep.

Lavon Williams with Orange County’s Neighborhood Services said her office is collecting data to see how the amount of forecloures in the county are affecting HOAs.

“We certainly don’t want to cry that the sky is falling, but we do want to be proactive,” said Williams.

There are more than 1,000 registered Homeowner’s Associations in Orange County. There are 4,000 and 5,000 subdivisions.

Right now there are more than 2,300 active home foreclosures in Orange County. That’s the third highest number in the state.

More Headlines

Make WFTV Your Power On

Did you ever turn your television off at night and notice the next morning that your set comes on to a different channel? You can set your cable box so that your TV comes on to the station you want. It's easy! Full Story ››
Step-By-Step Text Instructions


Click Picks
Video Clips
AP Photo/Peter Kramer
Heidi Klum and her post-baby body led the parade at the annual Victoria's Secret fashion show, which returned to New York with some fresh faces after four years on the road. View Images ››


Strange News Photos

From brilliant to bizarre, our 99-photo slideshow captures a variety of strange news. Photos are added often. Take A Look!

County-By-County News

Get Hyper-Local On WFTV.com

Visit our County-By-County section for the latest news headlines out of your county. » County-By-County

When you take videos or photos of Central Florida news or weather events, iWitness is your place to upload them. » iWitness

Visit your headquarters for county-by-county news and resources, and a place to share community videos and photos. » 9Central