Homeowners in a North Carolina neighborhood fear they could lose their houses after their HOA voted to double its monthly fees. Some worry they may face foreclosure or bankruptcy if they cannot pay.
The Magnolia Cove HOA in Sherrills Ford, North Carolina, voted on October 26, 2026, to raise fees from $1,250 to $2,500 a month. The board had first proposed raising them to $7,500 a month.
Although the board chose a smaller increase, homeowners will still have to pay $30,000 a year in HOA fees. That is on top of their mortgages, taxes, and other bills…