Philip Ragona,
Just Looking, Dallas, TX
I am a property owner in the Rocky Ford portion of the Lone Oak development, and have been following this saga for the better part of three years. I am also an attorney in Dallas (though not a real estate attorney). I have spoken to one of the real estate agents representing many of the Lone Oak homeowners to get her perspective. She is in the process of updating her information from her sources. We are both of the opinion that if the Lone Oak homeowners want to get any meaningful response from 3-D Resorts (or even any answers), we need to act in unison. The first step would be to organize a homeowners’ meeting to get a sense of the numbers we're dealing with, and then decide next steps.
Hopefully, more info to come soon. In the meantime, please respond if you would be interested in attending such a meeting. I also can be reached directly at 214-583-1520. Thank you.
Phil
Hopefully, more info to come soon. In the meantime, please respond if you would be interested in attending such a meeting. I also can be reached directly at 214-583-1520. Thank you.
Phil
texas.hoa-poa.com,
Just Looking, Green Valley, AZ
I am Sharon and I am trying to gather us all together in one place and share what we have "lost", either in monetary value or disruption to our lives. There are 4 developments involved, that I currently know of. About 800 lots per development. That is potentially over 3000 Texas voters. I am hoping with that kind of clout, we might be able to get an organization of government official to look at this situation.
Each development has had many of the same 'characters'. I have put preliminary information on the website and forums with some of the evidence of the connection between them all. And, each development has been effected in many of the same ways.
If you want to register for the forums and have your information logged or read the information there, please type my 'username' here exactly as you see it in your browser. That will take you directly to the forums. You will need to have your property information available from your county tax bill. That will help me verify that you are an actual lot owner and not a spammer. If you need any help along the way, just use the Contact link at the top of the forums.
I am also waiting for Kim to get back from vacation to have her fill in what she has done so far and help to identify all of you.
Each development has had many of the same 'characters'. I have put preliminary information on the website and forums with some of the evidence of the connection between them all. And, each development has been effected in many of the same ways.
If you want to register for the forums and have your information logged or read the information there, please type my 'username' here exactly as you see it in your browser. That will take you directly to the forums. You will need to have your property information available from your county tax bill. That will help me verify that you are an actual lot owner and not a spammer. If you need any help along the way, just use the Contact link at the top of the forums.
I am also waiting for Kim to get back from vacation to have her fill in what she has done so far and help to identify all of you.
Web Reference: http://texas.hoa-poa.com
Tara Flynn,
Both Buyer and Seller, Greenville, TX
My name is Tara Flynn,
It seems you've all been afraid to give your real names, phone numbers and contact info!, I'm not!
My company on 2/10/2010 closed on the house and land located at 103 Lakeview Court, in the Villages of Lone Oak.
It paid $5,000 for the 75% finished 2007, 2,881 sq. ft concrete house and .25 acres, it sits on!
This property was a resale owned by One West bank, sold to my company through our agent Marty Gray.
As a resale, the property had been struck from the Hunt County Apprasial District (HCAD) tax rolls in 2008, in an attempt to 1st sell it on the county steps, which failed as did, attempting to sell it at auction.
Gray real Estate entered it as a listing for One West Bank, after they turned down a bid from a wrecking crew of $25,000 to tear the house down!
The HCAD wouldn't let Gray list it for anything less than $31,900, 10% of the FMV that the HCAD had put on it!
My company 2 weeks later called Marty Gray, made a Fair Market Vaule offer of 5,000 in cash and settled it on a HUD1 less than 15 days later.
The property was sold in an as is condition under a special limited deed, with no septic,city sewer,city water available ever, nor was there a way to have the electric hooked up!
There is still is a sticker posted on the front window put there by the county saying it is unihabitable, and it was there when we closed on it on 02/10/2010.
On april 30, 2010, the HCAD sent a tax FMV of 197,260.
I filed a formal protest on the 15th, based on what my company paid for a purchase FMV as well as using the sales comps for the last 6 months for property sales, and the ones I pulled after closing on 2/10/2010.
Lots began selling for 1,000 a lot, 3 days after that date, with the 1st 3, were sold on the steps and the rest sold on http://www.auction.com.
I'm a licensed paralegal researcher, real estate agent and ready to fight the HCAD, if you are!
Isn't it bad enoungh the HCAD has charged you poor lot owners for the last 3- 4 years on purchase values you paid!
Not one property since the last lot was sold by the last debunk, dubious assumed owner of this subdivision to an unsuspectiing buyer, in Sept 2009, has ever been failrly taxed by the HCAD, for its FMV!
THE HCAD WAS NOT IMPRESSED WITH YOU OR A LAWYERS EFFORTS TO RELIEVE WHAT THEY HAVE PLACED AS FMV ON YOUR LOTS!
HOWEVER; WHAT I PAID FOR MINE WITH A HOUSE ON IT, HAS TERRIFIED THEM AND AS THEY SAY, THEY KNOW THE JIG IS UP AND IT'S END GAME!!!
FMV is based on comps!
I just gave you a huge one to use against them!
It's bad enough if you pay for worthless land and the fact the HCAD know it's worthless and will remain that way, but now if they continue to tax it on what you paid for the land it is a crime against you as a tax payer, not before I bought the house and land, but after I bought the land and house.
My phone number is 903-455-8090, I live at 1408 Jacksons Run in Greenville, Texas.
My company's name is on the ownership papers. It is Equine Colic Relief.
The phone number is to my office!
This is an election year, these subdivisions and the victims of them and the evils brought about by the CAD's that tax them, is something not yet brought to the attention of the news media, but will be!
Petitions, are not one citizen but many that oppose or propose changes, what The Owners Of The Villages Of Lone Oak do, can change what CAD's like Hunt County, can do in the future!
I will fight them alone, as Travis said when he drew the line in the sand at the Alamo, if you do not wish to fight them leave, for there is no shame in retreating from numbers greater than you are!
This is America!
We the people, do not serve those we elect they serve us!
TARA
It seems you've all been afraid to give your real names, phone numbers and contact info!, I'm not!
My company on 2/10/2010 closed on the house and land located at 103 Lakeview Court, in the Villages of Lone Oak.
It paid $5,000 for the 75% finished 2007, 2,881 sq. ft concrete house and .25 acres, it sits on!
This property was a resale owned by One West bank, sold to my company through our agent Marty Gray.
As a resale, the property had been struck from the Hunt County Apprasial District (HCAD) tax rolls in 2008, in an attempt to 1st sell it on the county steps, which failed as did, attempting to sell it at auction.
Gray real Estate entered it as a listing for One West Bank, after they turned down a bid from a wrecking crew of $25,000 to tear the house down!
The HCAD wouldn't let Gray list it for anything less than $31,900, 10% of the FMV that the HCAD had put on it!
My company 2 weeks later called Marty Gray, made a Fair Market Vaule offer of 5,000 in cash and settled it on a HUD1 less than 15 days later.
The property was sold in an as is condition under a special limited deed, with no septic,city sewer,city water available ever, nor was there a way to have the electric hooked up!
There is still is a sticker posted on the front window put there by the county saying it is unihabitable, and it was there when we closed on it on 02/10/2010.
On april 30, 2010, the HCAD sent a tax FMV of 197,260.
I filed a formal protest on the 15th, based on what my company paid for a purchase FMV as well as using the sales comps for the last 6 months for property sales, and the ones I pulled after closing on 2/10/2010.
Lots began selling for 1,000 a lot, 3 days after that date, with the 1st 3, were sold on the steps and the rest sold on http://www.auction.com.
I'm a licensed paralegal researcher, real estate agent and ready to fight the HCAD, if you are!
Isn't it bad enoungh the HCAD has charged you poor lot owners for the last 3- 4 years on purchase values you paid!
Not one property since the last lot was sold by the last debunk, dubious assumed owner of this subdivision to an unsuspectiing buyer, in Sept 2009, has ever been failrly taxed by the HCAD, for its FMV!
THE HCAD WAS NOT IMPRESSED WITH YOU OR A LAWYERS EFFORTS TO RELIEVE WHAT THEY HAVE PLACED AS FMV ON YOUR LOTS!
HOWEVER; WHAT I PAID FOR MINE WITH A HOUSE ON IT, HAS TERRIFIED THEM AND AS THEY SAY, THEY KNOW THE JIG IS UP AND IT'S END GAME!!!
FMV is based on comps!
I just gave you a huge one to use against them!
It's bad enough if you pay for worthless land and the fact the HCAD know it's worthless and will remain that way, but now if they continue to tax it on what you paid for the land it is a crime against you as a tax payer, not before I bought the house and land, but after I bought the land and house.
My phone number is 903-455-8090, I live at 1408 Jacksons Run in Greenville, Texas.
My company's name is on the ownership papers. It is Equine Colic Relief.
The phone number is to my office!
This is an election year, these subdivisions and the victims of them and the evils brought about by the CAD's that tax them, is something not yet brought to the attention of the news media, but will be!
Petitions, are not one citizen but many that oppose or propose changes, what The Owners Of The Villages Of Lone Oak do, can change what CAD's like Hunt County, can do in the future!
I will fight them alone, as Travis said when he drew the line in the sand at the Alamo, if you do not wish to fight them leave, for there is no shame in retreating from numbers greater than you are!
This is America!
We the people, do not serve those we elect they serve us!
TARA
Louise Thomas,
Agent, 75453
If you own property out at the Villages at Lone Oak, here is my advise for what it's worth --
First, take a deep breath. This new company, 3-D Resorts, is a fine reputable company who has a plan and they are carefully working that plan. When they purchased this property they also purchased an enormous amount of debt. They are working through paying for the "sins" of the previous company and doing a pretty good job at it. If they hadn't stepped up to the plate when they did, the development would be a financial disaster for all of good people who have purchased land there.
I understand that the economy is in turmoil. No one could foresee this plunge in the market or that there would be massive lay-offs and such. They didn't, you didn't, and either did anyone else. But, the right Real Estate is still a good investment. It may no longer be a the right investment for you, but for someone else it is.
I am pleased to see that this new company has a plan. Will everything be rosy now?? No, but they are working their plan which include paying off debt, building infrastructure and finishing the last nine holes of the Golf Coure. It is easy to see whether or not roads are being built, and construction projects are being completed, but there isn't anything that you can point to that shows debt being paid, unless you get into their financial records, which I would imagine are available if you go to their offices in Spring Branch Texas.
There have been negotiations with Cash Water, which is a Special Utility District, to facilitate adequate water since the beginning. These talks had been virtually discontinued when Colorado Mtn. Development was the owners. But there is an end in sight, and now there is an agreement in place to provide water to up to 355 homes prior to a Water tower being built. Only certain areas are ready to be built in, however over the course of this summer that will change. Like I said, infrastructure is their number one priority.
If you are a property owner who wants to sell their property, keep in mind that until homes start being built the only lots that are selling are those being sold by the sales staff. If you are considering purchasing a lot out at the Villages, but you are unsure, consider purchasing a lot from someone who is needing to sell. I can almost guarantee, that you can purchase a better one than the development is offering right now, and in many cases the Golf Club membership that will be transferred is better than the one that you will be offered. There are full / unlimited memberships available, but not from the sales staff.
If you are a builder looking for a really nice place to build several or even just one home, call me. There are deals out there and prime locations to show off the style and quality of your workmanship. If you build a beautiful home in The Villages at Lone Oak, I have been assured that it would be added to the tour each week-end and hundreds will see the quality of your workmanship each month.
The Villages at Lone Oak is an emerging resort style development on the Shores of Lake Tawakoni in the quiet Ranching community of Lone Oak Texas. It is a great place to go to get a way from the Metro-plex where you are truly away without being too far away. It only takes about an hour to get to from Dallas, but unlike some of the other lakes in the area, Lake Tawakoni hasn't been totally developed out. It really is a nice recreational lake.
If you have been invited as a guest to preview the Villages at Lone Oak, I would encourage you to go, get your free gift then call me. Or better still, just call me and I will show you around and answer all of your questions. I have many clients who have found that in this current economy they need to sell their property. Their loss can be your gain, and there are so many advantages to purchasing these lots that have already had payments made for a year or two.
My name is Louise Thomas, and I am a Realtor in the Lone Oak area. I am very familiar with the Villages at Lone Oak and my only goal is for it to be a robust success and a boost to our local economy. If I can answer any questions for you I am happy to. In the spirit of full disclosure, I did spend about 4 months on the sales staff out at the Villages back in 2006, that is when I realized that there were a lot of people purchasing these lots as an investment and they were going to eventually need a Realtor. I am no longer an employee, or in any way associated with 3-D Resorts or The Villages at Lone Oak, but I am happy to speak frankly with you. If you are a builder, once again, I encourage you to contact me because there are some really great deals out there that I would be happy to discuss with you.
I hope that you have found this useful. If I can assist you, please don't hesitate to call me.
Louise Thomas
903-268-4200 (c)
903-356-4700 office
First, take a deep breath. This new company, 3-D Resorts, is a fine reputable company who has a plan and they are carefully working that plan. When they purchased this property they also purchased an enormous amount of debt. They are working through paying for the "sins" of the previous company and doing a pretty good job at it. If they hadn't stepped up to the plate when they did, the development would be a financial disaster for all of good people who have purchased land there.
I understand that the economy is in turmoil. No one could foresee this plunge in the market or that there would be massive lay-offs and such. They didn't, you didn't, and either did anyone else. But, the right Real Estate is still a good investment. It may no longer be a the right investment for you, but for someone else it is.
I am pleased to see that this new company has a plan. Will everything be rosy now?? No, but they are working their plan which include paying off debt, building infrastructure and finishing the last nine holes of the Golf Coure. It is easy to see whether or not roads are being built, and construction projects are being completed, but there isn't anything that you can point to that shows debt being paid, unless you get into their financial records, which I would imagine are available if you go to their offices in Spring Branch Texas.
There have been negotiations with Cash Water, which is a Special Utility District, to facilitate adequate water since the beginning. These talks had been virtually discontinued when Colorado Mtn. Development was the owners. But there is an end in sight, and now there is an agreement in place to provide water to up to 355 homes prior to a Water tower being built. Only certain areas are ready to be built in, however over the course of this summer that will change. Like I said, infrastructure is their number one priority.
If you are a property owner who wants to sell their property, keep in mind that until homes start being built the only lots that are selling are those being sold by the sales staff. If you are considering purchasing a lot out at the Villages, but you are unsure, consider purchasing a lot from someone who is needing to sell. I can almost guarantee, that you can purchase a better one than the development is offering right now, and in many cases the Golf Club membership that will be transferred is better than the one that you will be offered. There are full / unlimited memberships available, but not from the sales staff.
If you are a builder looking for a really nice place to build several or even just one home, call me. There are deals out there and prime locations to show off the style and quality of your workmanship. If you build a beautiful home in The Villages at Lone Oak, I have been assured that it would be added to the tour each week-end and hundreds will see the quality of your workmanship each month.
The Villages at Lone Oak is an emerging resort style development on the Shores of Lake Tawakoni in the quiet Ranching community of Lone Oak Texas. It is a great place to go to get a way from the Metro-plex where you are truly away without being too far away. It only takes about an hour to get to from Dallas, but unlike some of the other lakes in the area, Lake Tawakoni hasn't been totally developed out. It really is a nice recreational lake.
If you have been invited as a guest to preview the Villages at Lone Oak, I would encourage you to go, get your free gift then call me. Or better still, just call me and I will show you around and answer all of your questions. I have many clients who have found that in this current economy they need to sell their property. Their loss can be your gain, and there are so many advantages to purchasing these lots that have already had payments made for a year or two.
My name is Louise Thomas, and I am a Realtor in the Lone Oak area. I am very familiar with the Villages at Lone Oak and my only goal is for it to be a robust success and a boost to our local economy. If I can answer any questions for you I am happy to. In the spirit of full disclosure, I did spend about 4 months on the sales staff out at the Villages back in 2006, that is when I realized that there were a lot of people purchasing these lots as an investment and they were going to eventually need a Realtor. I am no longer an employee, or in any way associated with 3-D Resorts or The Villages at Lone Oak, but I am happy to speak frankly with you. If you are a builder, once again, I encourage you to contact me because there are some really great deals out there that I would be happy to discuss with you.
I hope that you have found this useful. If I can assist you, please don't hesitate to call me.
Louise Thomas
903-268-4200 (c)
903-356-4700 office
Nancy,
Home Owner, Longview, TX
Our lawsuit never went through...Once our lawyer contacted the lawyer for BOA about the facts about the land they decided not to pursue the recovery of the rest of the money. We had about $40,000 into the land when we stopped payment owing approx. $58,000 more. I drove by the properties Wednesday after visiting with our lawyer. I bumped into a man and his son playing the open holes on the course. I was having difficulty finding my lot so i stopped him to ask if he was familiar with the prooperty. He said he was and never introduced himself by name but did identify himself as having been hired by BOA to visit the property and do a current appraisal of lots that had been foreclosed on. Some things he shared with me that may help you...
He has appraised approx. 13 lots...some fairway $2,500.00 and others $2,000.00, they are being sold for this amount currently to anyone who wants to pay the current taxes which are about $1,000 per year, Hunt county is still taxing based on the amount the property was originally valued. He said most people buying currently are locals hoping the land course will make . He says it appears the nine holes developed on the course are being watered by well...1-5 and 9-12...they are playable. One house is complete...kind of...make shift aerobic system and dug well...they are full time residents. Another house was started but never completed...both alike...can't tell if it is brick or ? and green tin roof. Not what i consider a golf course home.
None of the sites are furnished with city utilities. No real golf pro shop. He said most owners have foreclosed. He said there is one area on the water that has about 15 house...he guesses they were the original executives that have separated from the golf course and got city utilities by joining with the lake properties.
Our lawyer is a friend of ours...he is not a property lawyer but just helped us to get BOA off our backs. I will ask him Sunday to see if he can recommend someone in your area.Until then i hope some of this helps you.
He has appraised approx. 13 lots...some fairway $2,500.00 and others $2,000.00, they are being sold for this amount currently to anyone who wants to pay the current taxes which are about $1,000 per year, Hunt county is still taxing based on the amount the property was originally valued. He said most people buying currently are locals hoping the land course will make . He says it appears the nine holes developed on the course are being watered by well...1-5 and 9-12...they are playable. One house is complete...kind of...make shift aerobic system and dug well...they are full time residents. Another house was started but never completed...both alike...can't tell if it is brick or ? and green tin roof. Not what i consider a golf course home.
None of the sites are furnished with city utilities. No real golf pro shop. He said most owners have foreclosed. He said there is one area on the water that has about 15 house...he guesses they were the original executives that have separated from the golf course and got city utilities by joining with the lake properties.
Our lawyer is a friend of ours...he is not a property lawyer but just helped us to get BOA off our backs. I will ask him Sunday to see if he can recommend someone in your area.Until then i hope some of this helps you.
Darthbowmacc,
Just Looking, Fort Worth, TX
I have been following everyones struggles for a while, we too are in the same situation, we own a lot on the golf course so we owe about 90K to Wells Fargo. Has anyone had any sucess with a restructured loan with reduced principle, or have people just been walking away from it? And if you do walk away from it can the bank come after you and your house? Any help or advice would be greatly appreciated, we dont think that we should have to pay the bank $150K in principle and interest because we made one mistake and bought this land. Thanks
Chris
Chris
rominadimafelix,
Home Owner,
Lone Oak, TX
any update- we are having problem, pls post if there is anything that might help us. thanks.
Morgan Woods,
Home Buyer, Laredo, TX
Did anyone else get a letter from Jeff King at DFC about the lots? I retyped it in case somebody else wanted to see it. Looks like they are trying to do something.
Dear Property Owner:
Earlier this year I wrote to you to introduce myself and bring you up to date on our foreclosure of the Lone Oak property and our intentions going forward. Since that time, myself and a number of my associates have been working diligently to familiarize ourselves with the issues and challenges associated with restarting and eventually completing the project. This has included meetings and discussions with Cash Special Utility District, Hunt County officials, engineers that worked on the project, as well as site visits with developers, some of whom we’ve worked with for over 20 years, who may be interested in developing and selling the remainder of the property. At the same time, we’ve continued to work toward securing the additional funding and financing needed to restart the project. And although we’ve secured commitments for some of this financing and we’ve answered many of our initial questions, there’s still a lot of work that needs to be done. I’d like to assure all of you that DFC will continue to work toward resolving these issues and challenges.
In the meantime, hats off to Bentley Burrus, our resident golf pro/golf course superintendent/wearer of many hats, for keeping the golf course looking great with a small crew and a shoe-string budget. We’d like to encourage all of you to see for yourself. Bring this letter, present it at the pro shop and play a round, with cart, for free.
I’m also excited to report that work continues on the President George Bush Turnpike Eastern Extension, a $1 billion project through the North Texas Tollway Authority (go to http://www.ntta.org/AboutUs/Projects/PGBTEast.htm for maps and a progress report). By bringing areas east and northeast of Dallas 10-15 minutes closer to Lone Oak, we’re hopeful this will increase the demand for primary residential living at The Villages.
I will continue to keep all of you informed throughout this process.
Dear Property Owner:
Earlier this year I wrote to you to introduce myself and bring you up to date on our foreclosure of the Lone Oak property and our intentions going forward. Since that time, myself and a number of my associates have been working diligently to familiarize ourselves with the issues and challenges associated with restarting and eventually completing the project. This has included meetings and discussions with Cash Special Utility District, Hunt County officials, engineers that worked on the project, as well as site visits with developers, some of whom we’ve worked with for over 20 years, who may be interested in developing and selling the remainder of the property. At the same time, we’ve continued to work toward securing the additional funding and financing needed to restart the project. And although we’ve secured commitments for some of this financing and we’ve answered many of our initial questions, there’s still a lot of work that needs to be done. I’d like to assure all of you that DFC will continue to work toward resolving these issues and challenges.
In the meantime, hats off to Bentley Burrus, our resident golf pro/golf course superintendent/wearer of many hats, for keeping the golf course looking great with a small crew and a shoe-string budget. We’d like to encourage all of you to see for yourself. Bring this letter, present it at the pro shop and play a round, with cart, for free.
I’m also excited to report that work continues on the President George Bush Turnpike Eastern Extension, a $1 billion project through the North Texas Tollway Authority (go to http://www.ntta.org/AboutUs/Projects/PGBTEast.htm for maps and a progress report). By bringing areas east and northeast of Dallas 10-15 minutes closer to Lone Oak, we’re hopeful this will increase the demand for primary residential living at The Villages.
I will continue to keep all of you informed throughout this process.
Nathan Oehrlein,
Renter, San Diego, CA
To sum up:
1. no water, no sewer for almost the entire development
2. 3D Resorts, which bought the development from Lone Oak Land Dev. Co., has filed for bankruptcy (or so the rumor goes, but I don't recall an actual notice that that happened).
3. A group of Prop Owners bravely headed up by Kim Brown looked into filing suit only to find lawyers who wanted $10K up-front per family to go after them.
4. People who have protested their taxes have seen a 50% reduction in land value for tax purposes this year.
5. People still using DFC for their loan have seen generous renegotiations for payments on a case-by-case basis.
6. The golf course is a 9-hole public course run by Hunt Co. of uncertain fate as Hunt Co. tries to collect on unpaid taxes for the lots owned by 3D Resorts/LOLDC.
7. Approaches made by Kim Brown (in person) have gone un-acted-upon by the State Attorney General. Numerous complaints filed by numerous prop owners have gone un-acted-upon by SAG Office.
8. Hunt County officials have looked the other way for all of these years while they collected tax money. The provided bonds ensuring completion of roads and utilities are mysteriously "not on file" at the county office and thus non-claimable. Phone calls to the actual insurance company who insured the bonds do not get returned.
9. All of us owners continue to be scattered around the state and country with very few of us actually local to go see the property and annoying poke at people. Even fewer of us live in Hunt County to vote in elections to unseat any elected officials who are less than helpful or have chosen to look the other way.
Anything different to add to this list would be appreciated, but keeping it factual and succinct would be advisable.
Nate
1. no water, no sewer for almost the entire development
2. 3D Resorts, which bought the development from Lone Oak Land Dev. Co., has filed for bankruptcy (or so the rumor goes, but I don't recall an actual notice that that happened).
3. A group of Prop Owners bravely headed up by Kim Brown looked into filing suit only to find lawyers who wanted $10K up-front per family to go after them.
4. People who have protested their taxes have seen a 50% reduction in land value for tax purposes this year.
5. People still using DFC for their loan have seen generous renegotiations for payments on a case-by-case basis.
6. The golf course is a 9-hole public course run by Hunt Co. of uncertain fate as Hunt Co. tries to collect on unpaid taxes for the lots owned by 3D Resorts/LOLDC.
7. Approaches made by Kim Brown (in person) have gone un-acted-upon by the State Attorney General. Numerous complaints filed by numerous prop owners have gone un-acted-upon by SAG Office.
8. Hunt County officials have looked the other way for all of these years while they collected tax money. The provided bonds ensuring completion of roads and utilities are mysteriously "not on file" at the county office and thus non-claimable. Phone calls to the actual insurance company who insured the bonds do not get returned.
9. All of us owners continue to be scattered around the state and country with very few of us actually local to go see the property and annoying poke at people. Even fewer of us live in Hunt County to vote in elections to unseat any elected officials who are less than helpful or have chosen to look the other way.
Anything different to add to this list would be appreciated, but keeping it factual and succinct would be advisable.
Nate
Nathan Oehrlein,
Renter, San Diego, CA
Raul: Where have you been for the rest of this year?? ;-) Just kidding :-D
I think going to the media is a great thing to try--I know a few people have tried that, so hopefully they now come forward and suggest tactics that worked and tactics that didn't. I seriously doubt the VLO is the only place where a development like this has been undertaken and failed. The best way to approach it is to shine a nice bright light on the cronies at Hunt County--as opposed to the guys who used fraudulent practices in the later years to sell land. Media loves to get involved in politics--and those guys at Hunt County will be re-elected by the citizens of Hunt County--and it seems that local news stations would love any dirt on them possible.
Questions for the media to answer:
1) What happened to the original bonds taken out by the original developer to finish roads and utilities?
2) Why does Hunt County allow lots to be sold without infrastructure in place and then not follow through in pursuing avenues of restitution when the developer splits before finishing?
3) Why did Hunt County engineers require excessive water infrastructure placing excessive burden on future developers?
4) Why has Hunt County applied an un-even and unfair pricing scheme for lots at VLO (and probably others)?
Seems like enough for a decent segment to me...good luck Raul--and thank you for any help you can provide. It seems Kim and others who have worked on this over the past year are absolutely tired, frustrated, and angry--anything that can be done to move this in a positive direction would be appreciated.
Nate
I think going to the media is a great thing to try--I know a few people have tried that, so hopefully they now come forward and suggest tactics that worked and tactics that didn't. I seriously doubt the VLO is the only place where a development like this has been undertaken and failed. The best way to approach it is to shine a nice bright light on the cronies at Hunt County--as opposed to the guys who used fraudulent practices in the later years to sell land. Media loves to get involved in politics--and those guys at Hunt County will be re-elected by the citizens of Hunt County--and it seems that local news stations would love any dirt on them possible.
Questions for the media to answer:
1) What happened to the original bonds taken out by the original developer to finish roads and utilities?
2) Why does Hunt County allow lots to be sold without infrastructure in place and then not follow through in pursuing avenues of restitution when the developer splits before finishing?
3) Why did Hunt County engineers require excessive water infrastructure placing excessive burden on future developers?
4) Why has Hunt County applied an un-even and unfair pricing scheme for lots at VLO (and probably others)?
Seems like enough for a decent segment to me...good luck Raul--and thank you for any help you can provide. It seems Kim and others who have worked on this over the past year are absolutely tired, frustrated, and angry--anything that can be done to move this in a positive direction would be appreciated.
Nate
Kimberly Brown,
Agent, Plano, TX
I am bringing my letter to the meeting tomorrow.
I was wondering if anyone had the letter that talked about what the schools were doing?
Can you scan into your computer and then cut and paste it in here so I may read?
Thanks
Kim
I was wondering if anyone had the letter that talked about what the schools were doing?
Can you scan into your computer and then cut and paste it in here so I may read?
Thanks
Kim
Kimberly Brown,
Agent, Plano, TX
I thought I posted this earlier, but computer must have ate the Q and A.
I and two other people will be at the Starbucks located on Preston and the George Bush Hwy in Plano, TX. today at 4. For those who can't be there but want to be involved please email me at ryrokron@gmail.com or homeforgood@suddenlink.net, or you can call me and I will put you on speaker phone in the coffee shop if you would like. Ideas welcome.
I have an idea to get things rolling, but I need your help. I can't do this alone, it is too much for one person.
Thanks, Kim
I and two other people will be at the Starbucks located on Preston and the George Bush Hwy in Plano, TX. today at 4. For those who can't be there but want to be involved please email me at ryrokron@gmail.com or homeforgood@suddenlink.net, or you can call me and I will put you on speaker phone in the coffee shop if you would like. Ideas welcome.
I have an idea to get things rolling, but I need your help. I can't do this alone, it is too much for one person.
Thanks, Kim
Web Reference: http://kimbrown.yourkwagent.com
Brenda Ashley,
Just Looking, Azle, TX
Jimb123, Thanks for that info. I too, just cancelled my "subscription". Gary, I was wondering, what does your lawyer suggest you do? If he can get alot of people would he be able to do a class action lawsuit? I would be very interested to join. The sooner we do something the better. I'm tired of wasting my money. We are paying for Lot 1 at Lakeside where, I'm sure, nothing has been done. Obviously, I don't want to ruin my credit, so I haven't stopped paying on it. My email is brendaashley1@yahoo.com if anybody wants to add me to a list of any kind of action.
Rick Van Dame,
Home Seller, Rockwall County, TX
I belive Olga is running the meeting?? She sent me an email saying she would be there from Noon to 2pm. What a strange time to call a meeting, on a Holliday when they know many people cant come!!! click on her profile and email her.
Olga Cooper,
Agent, Rockwall, TX
Directions:
Take FM 1571 out of Lone Oak, towards the lake. Follow the road until it dead-ends. Pass the pro shop, take the next entrance. You'll see the sales office on your left.
Take FM 1571 out of Lone Oak, towards the lake. Follow the road until it dead-ends. Pass the pro shop, take the next entrance. You'll see the sales office on your left.
Web Reference: http://maps.google.com/maps?hl=en&tab=wl
Jimb123,
Both Buyer and Seller, Arlington, TX
so will the county help ensure that this gets finished or do you think folks should just walk away and hand the land back to our banks (ie: not pay the loans)? Sure it'll ruin my chance to get another loan, but right now this is sucking several thousand a year plus taxes out of my pocket.
no idea what to do at this point
J~
no idea what to do at this point
J~
Wills,
Home Seller, Highland Village, TX
I played the course last month and was also surprised to see that it had been spun off independantly and the clubhouse (club-trailer) staff informed me that i should also pay for playing. I had a very short conversation with him on this topic and wound up playing for free, as i have the full membership acquired with my property, but not without some consternation on the part of the staff.
The club staff also informed me that i should be getting notification of some fee, due and other associated changes associated with the course in the near future, mostly due to the separation from the property. My assumption is that this is in part due to breaking up assets and running, yet trying to pull in fees for the course based on a membership sold with the property.
Obviously an interesting arrangement, and one my lawyer is looking into at.
Anybody know what is going on with the property company?
The club staff also informed me that i should be getting notification of some fee, due and other associated changes associated with the course in the near future, mostly due to the separation from the property. My assumption is that this is in part due to breaking up assets and running, yet trying to pull in fees for the course based on a membership sold with the property.
Obviously an interesting arrangement, and one my lawyer is looking into at.
Anybody know what is going on with the property company?
Zoesmom,
Home Seller, Dallas, TX
So, basically, there are no options here. We own a lot there, too, that we have been trying to get rid of since basically day 1. I hate to think that we either end up paying $400 a month for a worthless piece of land or ruin our credit by walking away. Our property has been listed for almost a year with no interest. So much for trying to do the right thing!
~Discouraged
~Discouraged
With all due respect to Mr. Gipson, I think he has presented a very unfair perspective on the Villages. I'm sorry for your negative experience, but there is always risk involved in any investment. Many people bought lots at the Villages that they perhaps could not really afford and hoped to flip them quickly for a prophet. When this was not possible due to the stagnent market, some would-be profiteers found themselves in the unhappy position of having to pay for an investment that they didn't plan to hold for more than a few weeks. This is not the fault of the Villages, but rather a symptom of the larger economic crisis that the country is facing collectively.
I should say here, that I am not employed by the villages, I am not a real estate agent, and I do not own lots there, but I am familiar with the development and what is happening there. I don't like the methods the Villages employ to sell lots, but it is a beautiful development, the golf course was designed by Jeffrey Brauer, the development is right on Lake Tawakoni, one of Texas' top fishing lakes. The main thing slowing development there is squabbles between the Villages' developer and the local government. These negotiations happen with every new development and they will run their course in due time. In the meantime there is no reason not to invest in this development. It will become a wonderful place and investors who stick with it will be very pleased I think.
There are many lots at the Villages for sale by individual owners. You don't know about them because they cannot put up signs. The top listing agent for lots at the Villages is far and away, Louise Thomas at Exit Realty - Pinnacle Group in Quinlan, Tx. If you want the true picture on what is happening at the Villages now and what things are in the works for the future, talk to Louise. She can help you list your property, buy property, or just give you guidance on your options with regard to the Villages.
There is no need to panic, and any sort of litigation would most certainly be a waste of time and money because there is nothing going on at the Villages that is unusual or criminal.
Mr. Gipson, I hope you can work things out for yourself and find a great solution to your issues. You sound frustrated and your situation is regretable, but know that you are just playing Monopoly and you're loosing right now. Get rid of some hotels and sell Park Place and you'll be fine. I hope you find a nice "Get out of Jail Free" card real soon.
I should say here, that I am not employed by the villages, I am not a real estate agent, and I do not own lots there, but I am familiar with the development and what is happening there. I don't like the methods the Villages employ to sell lots, but it is a beautiful development, the golf course was designed by Jeffrey Brauer, the development is right on Lake Tawakoni, one of Texas' top fishing lakes. The main thing slowing development there is squabbles between the Villages' developer and the local government. These negotiations happen with every new development and they will run their course in due time. In the meantime there is no reason not to invest in this development. It will become a wonderful place and investors who stick with it will be very pleased I think.
There are many lots at the Villages for sale by individual owners. You don't know about them because they cannot put up signs. The top listing agent for lots at the Villages is far and away, Louise Thomas at Exit Realty - Pinnacle Group in Quinlan, Tx. If you want the true picture on what is happening at the Villages now and what things are in the works for the future, talk to Louise. She can help you list your property, buy property, or just give you guidance on your options with regard to the Villages.
There is no need to panic, and any sort of litigation would most certainly be a waste of time and money because there is nothing going on at the Villages that is unusual or criminal.
Mr. Gipson, I hope you can work things out for yourself and find a great solution to your issues. You sound frustrated and your situation is regretable, but know that you are just playing Monopoly and you're loosing right now. Get rid of some hotels and sell Park Place and you'll be fine. I hope you find a nice "Get out of Jail Free" card real soon.
Web Reference: http://www.buyahousefromlouise.com
Linda Waltman,
Agent, Katy, TX
Select realtors and/or brokers that advertise and/or sell in that area. Then interview them. Ask them to bring with them some information on listing prices for lots in that development and/or area. Ask them to bring along their marketing program for their listings.
Tom Mackinnon,
Both Buyer and Seller, Lewisville, TX
I renegotiated the mortgage with the development company last year - reduced the interest rate to 5% and took 50% off the loan balance. I quit paying the note 8 months before I could get development company to negotiate with me.
They said they were going to report my delinquency to the credit bureaus, but they were not a member of any of the three bureaus - I believe they have since joined at least 1 bureau.
Once they realized I was serious about not paying the original note due to the circumstances, they were reasonable.
The new note is still much more than the land is worth, and I continue to protest the appraised value for taxes with Hunt County, but this is the best I have been able to do.
They said they were going to report my delinquency to the credit bureaus, but they were not a member of any of the three bureaus - I believe they have since joined at least 1 bureau.
Once they realized I was serious about not paying the original note due to the circumstances, they were reasonable.
The new note is still much more than the land is worth, and I continue to protest the appraised value for taxes with Hunt County, but this is the best I have been able to do.
Dianne Sanchez,
Home Seller,
Rockwall, TX
who is the development company? I thought the bank had the property due to bankruptcy
Taylor Willingham,
Just Looking, McKinney, TX
I'm a real estate attorney and a friend of mine asked me to look into this. The following are some ideas or starting points.
Here are some ideas to reduce payment on taxes:
(1) As a group contact the county about lowering the taxes to the value of the land. It appears to only be worth $1,000 to $2,500. If a large enough group does this, the county should comply.
(2) Is it possible to turn this into farm land? I've never seen the area but this is what we do with land that is just sitting.
(3) There are complex rules about donating land to a 501(3)(c) but this would halt future taxes. This idea would not work if you have a mortgage on the property.
Was there an HOA put in place?
I imagine there was an HOA put into place before you purchased the land. As homeowners I would take control of the HOA. It might be impossible because any developer will want control of the HOA.
Mortgage
The hard part about the mortgage is the bank is just as much a victim as the homeowner.
Most banks will not seek a deficiency if you stop payment. However, they can if they so desire.
The worst thing they can do is place a foreclosure on your credit report. This will affect your ability to get a loan for 2 to 4 years. Before you stop payment, you must consider the consequences of this choice.
Renegotiate the terms of the loan. Since the investor on your property does not want to be stuck paying the taxes on the property, you might be able to renegotiate the terms of the loan.
If you have any question, I can look over your documents and give you an opinion on how I would handle the situation. You can call me at 214-250-4407.
Here are some ideas to reduce payment on taxes:
(1) As a group contact the county about lowering the taxes to the value of the land. It appears to only be worth $1,000 to $2,500. If a large enough group does this, the county should comply.
(2) Is it possible to turn this into farm land? I've never seen the area but this is what we do with land that is just sitting.
(3) There are complex rules about donating land to a 501(3)(c) but this would halt future taxes. This idea would not work if you have a mortgage on the property.
Was there an HOA put in place?
I imagine there was an HOA put into place before you purchased the land. As homeowners I would take control of the HOA. It might be impossible because any developer will want control of the HOA.
Mortgage
The hard part about the mortgage is the bank is just as much a victim as the homeowner.
Most banks will not seek a deficiency if you stop payment. However, they can if they so desire.
The worst thing they can do is place a foreclosure on your credit report. This will affect your ability to get a loan for 2 to 4 years. Before you stop payment, you must consider the consequences of this choice.
Renegotiate the terms of the loan. Since the investor on your property does not want to be stuck paying the taxes on the property, you might be able to renegotiate the terms of the loan.
If you have any question, I can look over your documents and give you an opinion on how I would handle the situation. You can call me at 214-250-4407.
Darthbowmacc,
Just Looking, Fort Worth, TX
Hello Everyone, Our lone is through Wells Fargo and is due up for $94,000 in April, we just got to the underwriting phase and the initial phone call did not sound promising. Has anyone had any dealings with Wells Fargo on trying to get any type of modification? Also what type of lawyer would be the best to contact about what options are available, and to just try to protect ourselves from the bank coming after us, if that is at all possible.
Thanks for the help, it has be both comforting and disconcerning to see that there are other people in the same situation as us.
Chris
Thanks for the help, it has be both comforting and disconcerning to see that there are other people in the same situation as us.
Chris
rominadimafelix,
Home Owner,
Lone Oak, TX
We are on the same page, we are trying to reach Wells Fargo about this. This is really drying our resources, paying basically the interest only and still have 40K+ left and already cough out $$$$$ for the last 4 1/2 yrs. Do you have any lawyer for this case?
Harp,
Just Looking, Allen, TX
interesting..may have been posted before..really think this shows BOA involvment even though they received a favorable ruling.
http://law.justia.com/cases/federal/district-courts/hawaii/h…
Anyway turning over to my lawyer to handle..good luck everyone.
http://law.justia.com/cases/federal/district-courts/hawaii/h…
Anyway turning over to my lawyer to handle..good luck everyone.
Harp,
Just Looking, Allen, TX
Hello eeryone. I just finished speaking with my lawyer and wanted to update others. I was originally suppoed to talk Monday, but he had to cancel.
First of all I had two objectives. 1. to see what legal recourse(lawsuit) I had against Lone Oak or 3d Resorts. 2. What I could do like Nancy to have BOA stop requesting payments and just take the hit to my credit.
The layer advised me after looking at my contract and providing him as much details as I could that it sounds like nothing can be done from a lawsuit perspective since the company has filed bankruptcy. As far as number two he does not see how any lawyer could have done anything since we signed a contract beyond a "Cease and Desist" letter, which is nothing more than stopping letters but would do nothing about them (Bank of America) down the line from filing a lawsuit against me and trying to garnish wages and come after property. He did say that is usually unlikely if enough people are stopping payments and that BOA may negotiate down to get some money.
Nancy could you please pass me your lawyers info or anyone else that was able to get an attorney and stop BOA from coming after them. Also, if anyone wants to add to anything above or disagree let me know. I realize we made a contractual agreement, which I have always honored, but just hate the feeling that this was a scam not only from Lone Oak, but the county and possibly BOA. Unfortunately these are only accusations with no evidence. I stopped my automatic payments for this month and again dont mind the credit hit, but the bank filing suit and trying to come after property etc..does not sound good.
Any input from those who have successfully got past this or lawyer references regardless of their location greatly appreciated.
Thanks!
First of all I had two objectives. 1. to see what legal recourse(lawsuit) I had against Lone Oak or 3d Resorts. 2. What I could do like Nancy to have BOA stop requesting payments and just take the hit to my credit.
The layer advised me after looking at my contract and providing him as much details as I could that it sounds like nothing can be done from a lawsuit perspective since the company has filed bankruptcy. As far as number two he does not see how any lawyer could have done anything since we signed a contract beyond a "Cease and Desist" letter, which is nothing more than stopping letters but would do nothing about them (Bank of America) down the line from filing a lawsuit against me and trying to garnish wages and come after property. He did say that is usually unlikely if enough people are stopping payments and that BOA may negotiate down to get some money.
Nancy could you please pass me your lawyers info or anyone else that was able to get an attorney and stop BOA from coming after them. Also, if anyone wants to add to anything above or disagree let me know. I realize we made a contractual agreement, which I have always honored, but just hate the feeling that this was a scam not only from Lone Oak, but the county and possibly BOA. Unfortunately these are only accusations with no evidence. I stopped my automatic payments for this month and again dont mind the credit hit, but the bank filing suit and trying to come after property etc..does not sound good.
Any input from those who have successfully got past this or lawyer references regardless of their location greatly appreciated.
Thanks!
Harp,
Just Looking, Allen, TX
Thanks everyone for the input. I will see how things go with my attorney tomorrow. I already stopped the automatic payment from my account wit BOA...hate it had to come to this since I had almost perfect credit. Anyway will see how things go with the attorney.
Nancy,
Home Owner, Longview, TX
Yes, we stopped paying BOA and they sent letters at first then referred to their collection department. They have damaged our credit but we are fortunate enough that we don't need the credit. We did get a lawyer to keep them from taking further action to try and collect the money. Occassionally we receive a letter reminding us that we are in default and that the land will go back to the county. I wish they would follow through with this and be done with this nightmare. However, they still have not taken it back...amazing, huh! The county doesn't even want the property...LOL. Yikes! If anyone ever has time to drive out to the town of Lone Oak...stop in and visit with the locals. You'll find out real quick that they didn't know what was happening and are very sad that their community's name was damaged by this mess. Any realtor that tries to tell you to hang in there the property will recover was probably involved with this scam. THERE ARE NO UTILITIES AND NO PLANS TO ADD ANY!!! Fake boxes and lines...no underground to run any sewer or water. Get out, take the hit and learn from our mistakes.
Philip Ragona,
Just Looking, Dallas, TX
7 years. And yes, if you walk away from a mortgage, you can forget about getting any credit (other than from loan sharks) during that time.
Nrth Tx,
Just Looking, Dallas, TX
From what I've been able to find, most legal action was started before the disolution of the corporation. Now that the entity no longer exists, its my understanding that any chance of recovery is limited. If Lots are now going for $1,500 and you're paying more than that, you may be better off to not pay the loan, take the hit to your credit score, but have the extra $500 per month or so to pay other bills, etc. Something your attorney may be able to help with.
texas.hoa-poa.com,
Just Looking, Green Valley, AZ
Latest 3D Resorts Bankruptcy filings:
http://business-bankruptcies.com/cases/3d-resorts-bluegrass-llc
It has been transferred out of TX, into Kentucky, I believe because the Attorney General of Kentucky has asked for this. It has also been modified from a Chapter 7 bankruptcy, to a Chapter 11 one. That link will show you the list of debtors. Click on 'show 25 more debtors'. The list there is interesting. IRS twice, US Attorney General's office, US Trustee's office. You may want to find out if Lone Oak Land Development (who holds some of your mortgages) is still able to lawfully do business.
Keep in mind, that in TX, company Agents are just attorney 'front men'. The actual owners are unknown, at least, to the public.
I sure would like to see the feds take all of this one step further and stop this from happening to so many people in so many developments across the US. Believe me, you are not alone in this.
http://business-bankruptcies.com/cases/3d-resorts-bluegrass-llc
It has been transferred out of TX, into Kentucky, I believe because the Attorney General of Kentucky has asked for this. It has also been modified from a Chapter 7 bankruptcy, to a Chapter 11 one. That link will show you the list of debtors. Click on 'show 25 more debtors'. The list there is interesting. IRS twice, US Attorney General's office, US Trustee's office. You may want to find out if Lone Oak Land Development (who holds some of your mortgages) is still able to lawfully do business.
Keep in mind, that in TX, company Agents are just attorney 'front men'. The actual owners are unknown, at least, to the public.
I sure would like to see the feds take all of this one step further and stop this from happening to so many people in so many developments across the US. Believe me, you are not alone in this.
Web Reference: http://hoa-poa.com
texas.hoa-poa.com,
Just Looking, Green Valley, AZ
You may want to tell your attorney to look at this texas case - 4:09-cv-03514. Ronald Newman, who is the Agent (front man) of Lone Oak Land development, is involved in some lawsuits in TX under the business name of 3D Resorts, with an affiliation of a Kentucky company of that same name. 3D Resorts has file bankruptcy to avoid paying on this lawsuit, along with other parties involved. It may be of interest to your attorney.
Web Reference: http://hoa-poa.com
Zoesmom,
Home Seller, Dallas, TX
I'm curious about this too. If you've stopped paying DFC, what actions have they taken to collect? I'm not sure how long I can make an extra car payment each month. I'm not sure they will ever be able to find a developer or if they're even honestly looking for one.
Harp,
Just Looking, Allen, TX
Hello everyone. I know that some people had mentioned they were going to talk to a lawyer, but I am not sure if anyone has had any success? In any case I am going to a lawyer next week. He requested I bring my paperwork, so I will see how it goes and update everyone on. I hope something can be done. In the meantime I finally decided to stop paying like Dennis mentions below only because I am paying over 500 a month for something I believe they did not deliver on. Not sure how that has worked for you so far Dennis? Has a lawsuit been filed against you? If anyone else has input or has spoken to a lawyer lately let me know.
thanks.
thanks.
Harp,
Just Looking, Allen, TX
Hello. I am looking at options to stop paying for this and was curious if anyone here has heard of or used these people before I go any further
http://www.youwalkaway.com/faq/
http://www.youwalkaway.com/faq/
texas.hoa-poa.com,
Just Looking, Green Valley, AZ
The problem is ongoing for many of these property owners. That is why it hasn't 'gotten deleted'.
Web Reference: http://hoa-poa.com
Dennis Phillips,
Both Buyer and Seller, Longview, TX
Roxy good luck finding an agent that wants anything to do with these lots. I did talk to an agent named Annette at Remax (903-455-9992). She was very informative about and helpful, but suggested forclosure my be better option. There are several of these lots for sale and none are being bought, no one wants them. The only ones being bought are foreclosures and they are going for $2,000 to $3,000. A lot less than we paid. I tried calling a couple of other agents, but after leaving a message about a lot at The Villages in Lone Oak they did not return my call.
Dennis Phillips,
Both Buyer and Seller, Longview, TX
I understand about the hit on our credit. But I'm not putting anymore money into this worthless piece of property. We like everone else I'm sure are out several thousand dollars. We will survive the hit on our credit. The bank is saying short sale is better than foreclosure. I'm not sure but whichever happens we are paying anymore for this lot.
Dennis Phillips,
Both Buyer and Seller, Longview, TX
I have informed Wells Fargo that I would not be making anymore payments on this lot. They are suggesting a short sale. Does anyone know any realators in this area or have any advice on short sales. My loan started with DFC then went to Wachovia which was taken over by Wells Fargo.
Nrth Tx,
Just Looking, Dallas, TX
I've seen many Hunt County Tax Sales recently. I think the county will take the property at some point if the taxes haven't been paid and then will try to sell the property. From what I've been able to find, recent sales for Lots have been $1,600 to $2,600.
