Home Buying in Melissa>Question Details

Hightflight, Home Buyer in Melissa, TX

what happens if i stop paying the hoa ?

Asked by Hightflight, Melissa, TX Fri Sep 25, 2009

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8
Naima Sumner’s answer
You need to read your covenants. The HOA may have a right to foreclose on your house for non-payment.

Why would you want to stop paying? You agreed to pay when you purchased the home.

Naima
1 vote Thank Flag Link Fri Sep 25, 2009
Read your HOA regulations detail what actions are taken against home owner who does not pay. Some have lost their homes.

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0 votes Thank Flag Link Sat Oct 3, 2009
Hightflight,
Did the information below help? Did you determine if the HOA is "voluntary" or "mandatory"? In Texas, the Home Owner Associations have a good deal of power. Please let us know if you need any further information.
Melissa

Melissa Hailey
Coldwell Banker Jane Henry Realtors
North Texas Top Team, Realtors
214-418-0180
melissa.hailey@coldwellbanker.com
0 votes Thank Flag Link Wed Sep 30, 2009
A HOA can foreclose on a home for non-payment of mandatory HOA fee's.

Nicole Arenas, Realtor
0 votes Thank Flag Link Sun Sep 27, 2009
Bad things... that you will have to pay for. Fines, interest, penalties, attorney fees, up to and including foreclosure if you are in a mandatory HOA.
Voluntary....not much...maybe you won't get the newsletter and maybe you don't get invited to the parties.
0 votes Thank Flag Link Sat Sep 26, 2009
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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All of the answers you have received are great assuming that belong to a mandated HOA if it is voluntary that introduces more flexibility. That's why you need to read the bylaws of your hoa and discuss with an attorney any questions you may have after that reading. If it's a mandatory HOA then they may be empowered to place a lean on your home and prevent the sale of your property until the lean is satisfied
0 votes Thank Flag Link Sat Sep 26, 2009
You can expect the HOA to take legal action that could involve foreclosure action. Refer to your HOA documents for additional information.

It would be best to avoid this scenario.

Good luck
0 votes Thank Flag Link Sat Sep 26, 2009
First the HOA will likely, after several attempts to collect, take action with an attorney. Then if you want to redeem your property you will need to pay exorbitant attorney fees which could be several times the amount of the uncollected dues. Then it is highly likely that, if you still refuse to pay, they will foreclose. This will be bad for your credit and you will most likely be held responsible for paying the difference of what they collect in the foreclosure proceedings for the house and the mortgage balance.

If you have a dispute with your HOA the first step to take is to talk to the board. If nothing can be worked out you could contact an attorney to see if they have the right to take the stand that they are taking. if they do then save yourself the headache and sell the property and move.

Good luck!
Web Reference: http://www.ChrisTesch.com
0 votes Thank Flag Link Sat Sep 26, 2009
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