Ginn fights lawsuit, other woes

Oct 5, 2007 Read more: Orlando Sentinel 728
Bobby Ginn launched colorful fireworks in the Bahamas this summer to help that island nation celebrate its Independence Day. Read more
MAN

Royal Oak, MI

#733 Aug 24, 2010
HTO wrote:
<quoted text>
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.
Get a hold of me I am trying to get together a class action against the club and HOA.moto_mark@msn.com
MAN

Royal Oak, MI

#734 Aug 24, 2010
Duped Investor 2 wrote:
<quoted text>
Would appreciate any feedback / guidance you received - I have a situation just like yours
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.
Hilton

AOL

#735 Sep 4, 2010
The HOA gets paid a certain amount per Florida statute and is wiped out by the mortgage (and first the unpaid taxes). The problem is where there is no mortgage (ie, paid cash) AND there is personal liability. So the HOA can commence a simple collection action instead of, or in addition to, the foreclosure. There are typically not many defenses to an HOA foreclosure (not as many as we have against the mortgage company, for example), but this is a different situation than most due to the Ginn fraud, intercompany relationships, etc.
Jan

Orlando, FL

#736 Jan 17, 2011
We just got a 1099c from the bank that did deed in leiu. Did anyone else get one and how is it handled?
OSU

Cincinnati, OH

#737 Jul 25, 2011
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.
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

Irving, TX

#738 Aug 19, 2011
OSU wrote:
<quoted text>
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
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?
OSU

Cincinnati, OH

#739 Aug 20, 2011
Da Bears wrote:
<quoted text>
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?
We were served about 30 days ago and I have been in contact with a lawyer in the Columbia SC area who is helping me. Not sure if they are willing to take less than the amount or not. They are suing us for 6K for about 6 months of unpaid club and HOA fees. What is your situation? I am thinking the HOA is trying to get any money it can and we are probably the first few of many they are serving.
MAN

Royal Oak, MI

#740 Aug 20, 2011
They will not take less.I Had a buyer for my lot for $4000 which I am sure you know would be a big loss for me.But he wanted all the fees up to date ($16,000). I just wanted to stop the bleeding of the fees.I told them I would net zero from the sale and apply all the profit from the sale as I didn't owe anything on the lot,to my fees and they would get someone in who would pay the fees.They told me by law that they cannot take less.I let my lot go to the state for back taxes to stop the fees from building up.If they contact me for the back fees I will pay them after Ginn finishes everything that was promised at the launch.
OSU

Cincinnati, OH

#741 Aug 20, 2011
How long ago did your property "go to the state"? My lot was foreclosed on Jan 09, and they just served me with a suit for back fee's.
MAN

Royal Oak, MI

#742 Sep 3, 2011
Last year. I have until Oct. to pay the back taxes to get the property back.Like that is going to happen.Just waiting for the papers to show up for back fee's.
MAN

Royal Oak, MI

#743 Oct 3, 2011
Got my letter today from the attorney for back club fees $16,500 and counting.
Some bottom feeding law firm that handles Homeowners claims.Told them the State took the property for back taxes and when the crook Ginn makes good on his promises so will I.
Melanie

Myrtle Beach, SC

#744 Feb 10, 2012
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!
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?

“Gerber Daisy”

Level 7

Since: Dec 11

Location hidden

#746 Feb 18, 2012
another thread bump.
Chris

Longwood, FL

#747 Mar 6, 2012
Does anyone have any suggestions for lawsuit filed by Cobblestone for past due fees? We paid $135k and are trying desperately to sell of $29k just to get fees covered and get rid of it. If anyone has any suggestions, or has a good attorney that can fight this, please pass on to me.
Email: chrisv32771@gmail.com
Thank you!!!!
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!
<quoted text>
MAN

Royal Oak, MI

#748 Mar 6, 2012
If you can get 29K you had better take it.The best offer I had was for 4k for a 135K lot but they wanted me to pay off the 17K in back fees.I let it go back to the state for back taxes just to stop the fees from mounting up.They are still trying to get me to pay the back fees but I told them to shove it.

Level 9

Since: Sep 11

Weeki Wachee, Florida

#749 Mar 14, 2012
bonus thread bump

Since: Jun 08

Boca Raton, FL

#750 Aug 15, 2012
Ridout wrote:
I have a lot in Cobblestone, on a lake in the area where the fourth nine was to be developed.
Since plans for that nine have disolved, Ginn has effectively made my lot worthless.

I am seeking others in the same position to pursue this legally
Its happening. Reply if you need help.
Rideout

Annapolis, MD

#751 Aug 16, 2012
BofA is coming after me for the mortgage I stopped paying about two years ago. Basically it's a lot in the swamp. No golf course, no lake.

I am fighting them all the way and hope they go to trial to set a precedent.

How can the lot have been appraised at full value, when nothing promoised was completed. The market didn't go down 98%.

Also, how could Ginn sell lots on a golf course never built, and not even approved by the Corp of Engineers
frd

Kissimmee, FL

#752 Aug 16, 2012
Go to Toby.com and look for info on fraud.
Get copies of lawsuits and send them as well.
I also think we should contact the atty gen. in each state, why aren't these people in jail?
Alot of people got out of mortgages with boa.
Get numbers of what the ave props have gone down in area and compare.
God bless and good luck!
Hilton

Boca Raton, FL

#753 Aug 19, 2012
frd wrote:
Go to Toby.com and look for info on fraud.
Get copies of lawsuits and send them as well.
I also think we should contact the atty gen. in each state, why aren't these people in jail?
Alot of people got out of mortgages with boa.
Get numbers of what the ave props have gone down in area and compare.
God bless and good luck!
Check my site www hiltonwienerlaw and contact me if you like.

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