Payment of Dues

The monthly dues to your Association pay for our current expenses, which increase every year (more than the increase in dues), and augment our savings for future maintenance projects. For this reason, we are unable to forgive your monthly dues payments. Late dues payments constitute a free loan of money from all other members of your Association. According to our By-Laws, we will charge a late fee of $10 per month for every month the dues are late. Also, three delinquent payments will force us to place a lien on the property and refer the delinquency to a collection agency for further action, cost of this action is borne by the homeowner. Monthly dues may increase by approximately 5% every year effective with your January 1st dues. Watch the Minutes for the exact amount.

Pay Your Dues By U.S. Mail

Payment booklets are provided yearly to those who want to pay dues by U.S. Mail. Click on Payment Books link below. Association dues must be postmarked by the 15^th of the month using the envelopes provided by our accountant.

If you do not have or cannot find your payment book, just write a note and include it with your payment.

Initially you will be provided enough envelopes to last one year. Use the eleven white envelopes first and the colored envelope last. This will remind our accountant to send you a new packet of envelopes.

If you run out of envelopes, it is not an excuse to be late or to have the $10 late fee forgiven. You can use your own envelope and mail to:

Forest Oaks Homeowners' Association Inc.

PO Box 834

Hopkins, MN 55343

Pay Your Dues Automatically

If you are interested in Direct Payment of your monthly dues, complete the Authorization Form by clicking on the link below. You must contact our accountant in order to complete part of the authorization form.

THE WITHDRAWAL FROM YOUR ACCOUNT WILL ALWAYS OCCUR ON THE 1ST BUSINESS DAY OF THE MONTH.

A fee of $25 will be charged to your account for each direct payment returned for non-sufficient funds. Two (2) returned direct payments in any twelve (12) month period will result in your discharge from the Direct Payment program.

IF YOU HAVE A BALANCE DUE ON YOUR ACCOUNT, YOU MUST PAY THAT BALANCE BEFORE WE WILL START AUTOMATICALLY DEDUCTING DUES FROM YOUR ACCOUNT.

Please send the signed and completed Authorization Form with a voided check for the account you want the withdrawal to be taken from to:

Forest Oaks Homeowners' Association Inc.

PO Box 834

Hopkins, MN 55343

If you have any questions feel free to call our accountant, Dan Smith, at 952-473-0395.

What happens if I don't pay my dues?

All situations are on a somewhat case by case basis. Keep in mind that you will be responsible for all of the Association's attorneys' fees and costs incurred during the collection process. The following is the minimum you can expect.

1. When you are three to four months delinquent, your file is turned over to our attorney for collection.

2. A demand letter and statement of account will be sent to the homeowner.

3. Due to federal law (Fair Debt Collection Practices Act), homeowner is given thirty days to pay oustanding amounts, including attorneys' fees and costs.

4. If account is paid or a payment plan is reached, the file is documented, closed, and returned to the Association.

5. If account is NOT paid or a payment plan is NOT reached, a title search is conducted to determine mortgage status and potential equity. Remember, you are continuing to incur the Association's attorneys' fees and costs.

6. Upon completion of the title search, the attorney reviewes the O&E Report (owners and encumbrances report that lists legal owners and mortgage holders or lien holders). A collection recommendation letter is sent to our accountant.

7. The collection letter either advises in favor of foreclosure or lawsuit for personal judgment against homeowner.

8. If foreclosure is recommended, power of attorney and request for notice are prepared, signed and filed.

9. Sheriff's sale is scheduled and notice of sheriff's sale is served upon homeowner.

10. Association attends sheriff's sale and bids the amount owing.

11. Assuming Association's bid is highest, then the Association becomes "equitable owner" but is subject to a six month redemption period and any senior liens (i.e. first mortgage and taxes). Remember, attorneys' fees and costs are accumulating.

12. At end of six month redemption period, Association owns the property subject to senior liens.

13. During the six month redemption period, the homeowner can pay the Association in full (accumulated dues, fines, and attorneys' fees and costs) to "redeem" his/her interest.