Fairfield Harbour Property Owners Reform Team



Voting Meeting – The voting meeting to determine if Fairfield Harbour POA will purchase the Mid-South properties was conducted as rescheduled on Wednesday evening, August 17th.  The result of the vote was 1202 in favor and 377 against.

Approximately 1000 property owners didn't vote (40%).

Were you ONE of them?


 North Carolina - Licenses & Registration

Mortgage Broker License This license is required of any company or sole proprietor who for compensation or gain, or in the expectation of compensation or gain, either directly or indirectly, accepts or offers to accept an application for a mortgage loan, solicits or offers to solicit a mortgage loan, negotiates the terms or conditions of a mortgage loan, issues mortgage loan commitments or interest rate guarantee agreements to borrowers, or engages in table funding of mortgage loans, whether such acts are done through contact by telephone, by electronic means, by mail, or in person with the borrowers or potential borrowers on residential real property located in North Carolina. 
Mortgage Lender License This license is required of any company or sole proprietor who for compensation or gain, closes a mortgage loan, advances funds, offers to advance funds, or makes a commitment to advance funds to a borrower under a mortgage loan on residential real property located in North Carolina. 
Mortgage Origination Support Registration This registration is required of any person (individual, partnership, Limited Liability Company, limited partnership, corporation, association, or other group) who engages in contract processing and underwriting is required to register. The North Carolina Secure and Fair Enforcement Mortgage Licensing Act (“NC SAFE Act”) defines a “mortgage origination support registrant” as a “person engaged exclusively in the processing or underwriting of residential mortgage loans and not engaged in the mortgage business.”
Mortgage Servicer License This license is required of any company or sole proprietor who for compensation or gain from another or on its own behalf is in the business of receiving any scheduled periodic payments from a borrower pursuant to the terms of any mortgage loan, including amounts for escrow accounts, and making the payments of principal and interest and such other payments with respect to the amounts received from the borrower as may be required pursuant to the terms of the mortgage loan, the mortgage servicing loan documents, or servicing contract. 

More info -  link 1 & Link 2


FHPORT will stand up to make sure the property
owners who do not want to pay for the amenities have some representation at any members meeting to be
held by the FHPOA.


The Simple Facts.....


  • The Board has reversed itself. It has decided to use the 151 votes it got from foreclosures to vote YES on the Mid South properties. That change was made about 2 weeks ago. Our guess is that they will use it, only if it means the difference between winning and losing.

  • 25% of the property owners are now making monthly dues payments to the POA.

  • Craven County currently has the Mid South properties assessed at about $2M. Yet, the board has a deal with Mid South for $2.75M that will ultimately cost the members over $5M. The Board's view is that Craven County assessed value has nothing to do with the sales price. Maybe, but then why have they not gone out and asked for their own appraisal?

  • The true cost to us for the $2.75M sales price will be more that $5M depending on the interest rate the POA negotiates with the loan company:

    • It would be about $5M @ 6% - principle & interest for life of a 10 yr loan. 
    • and about $7M @ 12% - principle & interest for life of a 10 year loan.
    • The higher the interest rate and the longer the loan term - the more it will cost!
  • The POA has scheduled a special meeting for the vote. It will occur on July 27, 2016 at 7pm in the FH Community Center. There was a mailing with aproxy. The only name on the proxy is Ann Simpson with no option to vote Yes or No. For more info, click here.

  • The info packet that the FHPOA mailed everyone with the very important notification of the Mid South property purchase and proxy will arrive in an unmarked white envelope with a return address of CAS, Inc. There is no indication on the envelope that it originated from FHPOA or Fairfield Harbour or even New Bern. 


Ask yourself these questions.....

  • Without an independent appraisal, do you really think that the POA should purchase for $5M+ (depending of interest and term) the Mid South properties currently assessed at about $2M by Craven County?
  • Are you willing to pay the rehab costs for the Shoreline Clubhouse and pool, and all the additional taxes and insurance costs that will surely be covered by the POA maintenance unbrella? It will likely add hundreds of dollars to your annual dues bill.

  • Are you willing to incur the addition legal bills that will surely occur after the POA breaks there promises to pay all this with Non-Dues income?

  • Are you willing to accept the dues increase for maintenance of the Mid South property that has already been announced at just $100? That number is a estimate and is likely not based on reality.

  • Are you willing to accept that this Mid South purchase news was not available before we elected new board members. It's just all to convenient!

  • Is this the only way to get this vote passed? Cram it down everyone's throat in less than 3 weeks. If this was really something that most members would want, we could do a paper vote for all the membership. The POA knows that to win -  that this is not possible. And so they have to find a different way around the legal issues.


Vote NO and let your voice be heard - Loud and Clear!


Call your POA Board of directors and it's president! Save Fairfield Harbour from a few determined people willing to do anything to get what they want at the expense of all our neighbors!

POA Office 252 633-5500


Thank You for visiting and supporting Fairfield Harbour Property Owners Reform Team


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