Home Real Estate Your HOA Can Foreclose on You Too
July 15, 2010 3 Comments

Your HOA Can Foreclose on You Too

7.15.2010

Just so you know – if you were thinking you could use the gym and pool without consequence:

Realty Check

FYI…

Filed Under: Real Estate Tagged: cnbc, cnbx, diana olick, foreclosure by condo association, HOA foreclose, home owners association, realty, realty check
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  • http://www.expertforeclosurehelper.com Tony Orlando

    I discovered your homepage by coincidence.
    Very interesting posts and well written.
    I will put your site on my blogroll.
    :-)

    • http://ChrisGrande.com Chris Grande

      Thanks Tony – I appreciate the compliment!

  • http://YourHOACanForecloseonyouToo Caroline

    Hi Chris,

    This was a subject brought up in our last HOA meeting. The only drawback is if the HOA foreclose on the owner because you placed a lean on their property, then you are responsible for paying off the mortgage and back taxes.

    We have in Phase II the least amount of foreclosures since after the initial sweep of homes foreclosing. and the maintenance fees have been paid pretty steady. There are a few straglers but not as much as in other communities.

    There was a young couple I meet at the MangoMania Festival a few weeks ago that bought a foreclosed home for $250K. It it is over 4,000 sq ft. and on the canal. When they were able to enter the house after paying off the bank they were infested with German Cock-roaches. They are the worst critters to have in your house and impossible to get rid of.

    They hide in pipes and tubes and nest everywhere. They finally had an exterminator that treated the dwelling with an illegal substance, but they had to replace all their cabinets, appliances…just about everything. There is still no guarantee they are gone.

    They got their tax bill and the house was last appraised for $650K (before the bubble busted). There taxes are over $7K. Now they have to fight the town to get it somewhere where they paid. They would only go down to $5K.

    See you in a few weeks, we are leaving July 27th for NH.

    Take care…

    Caroline

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