Foreclosures Up = Cable Bill Increase
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One of the more odd side effects of all of the foreclosures we are seeing in the area is how some communities are seeing their cable bills go up in price every single month.
One Gibsonton, Florida woman reports her cable TV bill has gone up 44% so far.
Why?
Some communities with homeowners associations were able to negotiate discount cable packages for their members. The problem is when home owners start going into foreclosure and stop paying their homeowners association becomes unable to pay the full fixed payment they agreed to pay the cable company.
Some community associations are finding themselves in the red, because the fees they pay monthly to the cable company makes up close to half their monthly association bills. The cable company charges late fees and sometimes increases the bill. The homeowners are feeling the pinch.
Banks are supposed to pay association fees on homes they receive through foreclosure. It turns out that actually getting them to pay can mean a lot of paperwork – which means increased legal fees.
No wonder why foreclosures are like tidal wave today just for reason that people care much paying their cable bills than their loans.:-)
-Jan