The developer always urges homeowners to be the first to buy into a brand new Homeowners Association. “If you delay, the price will only go up,” he’ll say. And sure enough, you throw your money down.
But new home buyers across the country are learning they’ve been victimized by one of the least prosecuted scams in America.
The latest one involves Lafayette Falls near South Bend, Indiana. Years have gone by. The developer is still collecting the dues, but homeowners are just now beginning to ‘get it’. The nice waterfall at the front entrance is now just green puddle with a broken pump. The streets are badly in need of repair.
On one street is a half finished home that hasn’t been touched for a year.
Neighborhood meetings are nasty affairs where the homeowners demand some kind of action be taken.
All the employees of Lafayette Falls? They’ve closed down the old office and they’re now working for another developer called ‘Turning Point’.