Homeowners in a North Carolina neighborhood say they could be forced out of their homes after their homeowners association doubled monthly fees to a staggering $2,500 — just months after residents were hit with another massive increase.

The latest hike in Magnolia Cove, a community in Sherrills Ford, means residents will now have to shell out $30,000 a year in HOA dues alone, on top of their mortgages, property taxes and other expenses.

The association voted Monday to raise monthly fees from $1,250 to $2,500, after initially proposing an eye-watering $7,500 monthly charge, according to local outlet WSOC-TV.

For some homeowners, the increase has turned their dream of settling down into a financial nightmare.

Jill Menson and her husband bought their home believing it would be the last place they would ever live. Five years ago, their monthly HOA dues were just $158.

But those fees have since ballooned, reaching more than $1,200 this summer alongside a $10,000 special assessment, before the latest increase pushed the monthly bill to $2,500.

“We are going to be forced out with nowhere to go, because no one is going to get a dime for their houses even if we put them on the market,” Menson told the outlet.

The Post previously reported on the neighborhood’s HOA controversy in July, when residents were already reeling from fees that had jumped from $350 to $1,250 a month.

Now, the dues have doubled again, leaving some residents worried about bankruptcy, foreclosure and whether they will be able to sell their homes at all.

One homeowner told WSOC-TV that he feared he had only months left before he would be forced to leave.

“There has to be HOA reform,” the resident said. “It’s insane that they have this much power to take everything that you have worked for over fees.”

The dispute has been brewing for years.

Residents have accused developer Aaron Guess, who they say owns most of the properties in Magnolia Cove and controls the HOA board, of failing to deliver promised amenities, including a swimming pool, lawn services and mailboxes.

But the association argues that the steep fees are necessary to cover mounting legal bills and unpaid assessments.

According to the HOA, more than 20 homeowners sued the association and some of its officers in early 2024. The association said those claims were either voluntarily withdrawn or dismissed by the court.

The HOA subsequently pursued counterclaims, and a jury found certain homeowners liable for defamation, awarding monetary and punitive damages, according to the association.

The board says defending the litigation has become the single largest expense in its budget, while years of unpaid dues have shifted additional costs onto homeowners who continue paying.

The association, which operates as a nonprofit, maintains that it does not profit from the assessments and that the money goes toward community expenses.

It also suggested the fees could eventually decrease once legal expenses subside and delinquent accounts are paid.

Not everyone in the neighborhood opposes the board.

“They started a fight. They lost,” resident Paige Johnson told WSOC-TV, referring to the homeowners who pursued legal action. “They don’t like the outcome and now they think everyone else needs to pay their dues.”

Guess did not respond to WSOC-TV’s requests for comment.

For homeowners hoping for government intervention, there may be little immediate relief.

The North Carolina Attorney General’s Office told the station that state law does not impose a general cap on how much an HOA can increase its fees annually, although associations must comply with their governing documents.

That leaves residents facing a difficult choice: pay the soaring fees, attempt to sell homes they fear have become unattractive to buyers or risk falling behind on payments.

For Menson and her neighbors, the prospect of losing the homes they worked to afford has become an increasingly real concern.