Hello R, and thanks for your question.
First, I am so sorry that you have found yourself in this situation, and hope that you might find some help with my response.
If the lender is foreclosing on your home, most of the time, the delinquent property taxes and the homeowners association fees would be wiped out in the foreclosure action. The property taxes are a property specific lien, so the debt follows the property and not you if you no longer own the home. However, the homeowners association there is one circumstance under which the delinquent HOA assessments would not be wiped out. If the homeowners association filed a lien, commenced a court action and won a judgment against you for the delinquent homeowners association assessment and court or collection fees, this debt could become your personal obligation to the Association and would not be wiped out in a foreclosure action. In some states, homeowners associations have been granted "super lien" powers, meaning that their debt must be paid BEFORE the lender's mortgage, and, in those cases, the delinquent sum may paid by the mortgage company to the Association, only to boomerang and be reassessed to you as a nonmortgage-related cost.
Personal judgments and personal liens may become liens against assets that you own, so, if you're asking if the homeoners association can take your car, the answer is possibly yes.
However, I'd like to back track a little on your question. First, am I correct in assuming that if you got a renter to live in the home with you, you jus might be able to pay your loan, property taxes and homeowners association fees? If this is the case, might I suggest immediately talking to your Association Manager and homeowners Board of Directors now to see if they would "waive" the rental restriction in order to give you a chance to keep the home, pay their bill and avoid foreclosure? Because the Association chances the possibility of never recovering their assessments in a foreclosure, it makes sense to have them work with you in helping you retain your home and preserve your financial investment.
Talk with them first and see if they are willing to allow you to rent extra rooms in your home. Regarding your loan modification, you might consider talking with an attorney about a modification. In some cases, attorneys have been very successful in getting a loan modification AND a loan balance reduction to help homeowners keep their homes. If you've only worked with the loan company to modify the loan, and have not spoken with a professional loan modfication company that uses the services of attorneys, I would strongly suggest talking with one soon.
Grace Morioka, SRES, e-Pro
Area Pro Realty
San Jose, CA