Can anHOA really foreclose on you, even if you are current on your mortgage?

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Can anHOA really foreclose on you, even if you are current on your mortgage?

Asked on August 9, 2011 Florida

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Yes, HOA's do in fact have the legal right to foreclose on property if an owner is delinquent on HOA fees - whether or not the homeworkeris current on their mortgage. And HOA have been foreclosing at an unprecedented rates. Some HOAs are facing delinquency rates of 15% or more and have serious shortfalls in revenues. These financially strapped HOAs are using whatever means necessary to obtain delinquent fees, including filing foreclosures. Many homeowners have no clue that thire HOA can foreclose for delinquent fees/assessments, and are further unaware that state law does not impose any minimum dollar amount which must be met before a foreclosure can be commenced.  

Note: When late and/or attorney fees, plus interest added to the delinquent assessments, the total amount owed to the HOA can run to several thousand dollars.


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