Dealing with Home Owner’s Association Foreclosures
Many homeowners underestimate the power of Home Owners Associations. The same associate that requires each house have a specific number of trees or home paint colors can foreclose on your home for not paying your dues. The HOA is responsible for making your particular community look attractive, therefor keeping the home values up. There are a few different ways they can go about taking your home for not payment.
Unlike bank foreclosures, court defenses to HOA foreclosures are limited.
If the Home Owners Association says you owe them money, you better pay them. They can foreclose on your home even if you are current with your mortgage. What is worse is they can potentially sell your home for much less than what it is worth.
