Home Buying in San Antonio>Question Details

acesrk, Home Owner in San Antonio, TX

what are the laws regarding foreclosure for non payment of hoa assessments?

Asked by acesrk, San Antonio, TX Wed Mar 13, 2013

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Ther is not substitute for talking to a Real Estate Attorney for this.. but here is a reference you can read about that may be helpful.

http://www.texashoalaw.com/wp-content/uploads/2012/09/2010-A…

http://www.ehow.com/info_8624928_hoa-foreclosure-law-texas.html

http://www.TexasHOABook.com

Best thing to do really is to simply pay the assessments and get it overwith. But, do consult an attorney with your specific case.

Jason
0 votes Thank Flag Link Fri Mar 15, 2013
You will definitely want to speak with a real estate attorney regarding any legal matters such as this. You can also read your HOA bylaws to find out more information on the procedures and abilities of the HOA to foreclose on the home with regard to non-payment of dues.

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Don Groff
REALTOR® & Mortgage Broker
Austin Real Estate Pros | 360 Lending Group
office: 512.669.5599 mobile: 512.633.4157
http://www.AustinListed.com | http://www.360LendingGroup.com
listings@dongroff.com
0 votes Thank Flag Link Thu Mar 14, 2013
No matter where you live, when you take on a debt to repay a loan you agree to certain stipulations which you sign at closing. Much of that is spelled out in that paperwork you sign and receive a copy. In addition, during your escrow period you get documents about the rules and regulations of your HOA for non-payment. If you have failed to make those payments, you are in default of your obligation. If you are in default, you need to contact an attorney to protect your interests.

Below are a couple of links that help explain the laws. If you have questions, contact an attorney to give you proper representation and don't rely on advice from non-attorneys.

http://missionmortgage.wordpress.com/2011/07/05/new-hoa-rule…

http://www.texashoalaw.com/wp-content/uploads/2012/09/2010-A…
0 votes Thank Flag Link Thu Mar 14, 2013
I agree that you should ask your local real estate attorney. If your laws are anything like Florida's laws, HOAs can quickly foreclose on a homeowner for back payments and take possession of their house.

When a homeowner does not pay a bank, you're taking money from a corporation, probably one that has defrauded thousands of owners in the past 6 years. Most of the CEOs should be in jail for the crimes committed since the mortgage meltdown. When you stop making payments to your HOA, your neighbors have to make up the shortfall personally from their pocketbooks. It's a big difference.

If you're behind on HOA payments, you should try your best to come to terms on a workout solution to pay down your debt. Again, they can probably foreclose quickly and you really don't have a defense.

GOOD LUCK.
0 votes Thank Flag Link Wed Mar 13, 2013
You should ask your attorney real estate questions, but from what I understand it can happen. Also you bank could foreclose potentially if you don't keep up HOA and Insurance as required in the deed of trust.
0 votes Thank Flag Link Wed Mar 13, 2013
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
That question would best be answered by a trustworthy Real Estate Attorney. Please let me know if you need a referral to one.


Gregory Touchstone
Keller WIlliams City View San Antonio, Tx
210-660-2834
0 votes Thank Flag Link Wed Mar 13, 2013
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