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.