Homeowner Associations are More Powerful Than You Think:   Foreclosures and Delinquent Dues

money-in-hand-house-300x200According to HOA-USA, a national homeowners association registry, more than 350,000 homeowners belong to HOAs in the U.S.   Homeowners pay dues and agree to abide by HOA bylaws designed to help maintain the integrity of the neighborhood in an effort to keep home values consistent. Pay your dues and you stay under the radar, but become delinquent and some HOAs can foreclose on your home. However, the impact of HOAs is not limited to homeowners. Foreclosed properties or real estate entering the market must be adequately assessed beforehand. This includes evaluating HOAs within the specific neighborhoods and can even become as detailed as reviewing the HOA records of the previous homeowners themselves.  Read more.

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