Ginn fights lawsuit, other woes

Duped Investor wrote:

Does anyone have any suggestions regarding dealing with the HOA dues in arrears for The Club at Hammock Beach? The lot we have at The Conservatory is going through the foreclosure process now. We received a letter from Vance, Lotane, & Brookhardt, Attorneys at Law for $22,611, which includes past due HOA dues, interest and attorney fees. I called them to discuss working out some form of settlement. They said we have two options: Pay the full amount within 90 days or "make them a very good offer" and pay that within 30 days. While we might be able to come up with a little cash say,$5,000, that's about it. We are worried that the fees will continue to accrue along with interest and attorney fees until the lot forecloses, which could take several more months. Do you know if there is any litigation against the HOA? Have they/are they actually providing any services since the Conservatory appears to be essentially a ghost town? In addition, with all of the allegations in the class action law suit, I would think their would be some grounds for fighting the HOA fees too considering we were all sold a "a bill of goods" perpetuated by fraud among other things. Any guidance and/or suggestions would be very much appreciated.

HTO wrote:

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We are in the same situation. Paid $259,000 for a golf course lot and are now being told it is worthless and will never get back close to that level. Financed through Ginn Financial and of course appraised at the purchase price. Not to mention ongoing HOA fees and quarterly assessments. Looking for a solution that will not ruin our credit.

Duped Investor 2 wrote:

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Would appreciate any feedback / guidance you received - I have a situation just like yours

MAN wrote:

<quoted text>They want you to go in to foreclosure because the bank gets the property and the bank has to pay the HOA.Then they turn over the amount you owe to a collection agency.I am trying to fight the same thing in Cobblestone.

OSU wrote:

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I hope people are still watching this forum, as I need some advice. Our property was foreclosed on about 2 years ago, but today we received a letter from an Attorneys office trying to collect for HOA fees from back then. Looks like Ginn-LA has a successor entity called LRA UC Golf, LLC and they are trying to collect past dues and fees from us. Anyone else have this happen? I would appreciate advice. Thanks

Da Bears wrote:

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I am in the same boat as you - LRA UC Golf, LLC & Cobblestone Park. What was your experience and what did you end up doing?

Bobby wrote:

Hello all. I'm an owner in Cobblestone Park, SC and have a few questions. Hope somone has some valid answers. I bought in CP because of the hype Ginn made it out to be. I truely don't believe that the failure of CP, among other Ginn resorts, is just because of a bad economy. I feel bad for the people who bought on the supposed extra 9 holes of golf. Nothing they stated at the launch ever came to fruition. My big question is about the golf. What can Ginn and or Linger do to me if the golf dues don't get paid. Why should I keep paying if Ginn never built the clubhouse and the other nine holes as we were told before signing that contract? The mortgage and taxes are one thing, but this golf dues thing just puts it over the top. Can this be reported to the credit agencies? Is there anyway out of this mandatory golf thing? And how many lot owners are actually paying this memebership fee?

Melanie wrote:

Is this still going on, Cobblestone is trying to sue us for golf fees. We bought
(unfortunately) from an individual, was never told about membership dues and We never signed a contract. If anyone has any good info please help!
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