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Homeowner associations start foreclosures to collect dues

Homeowner associations start foreclosures to collect dues (News (General))

by administrator @, Wednesday, June 17, 2009, 19:55

Thousands of Americans who have generally kept up with their mortgages are still in danger of losing their homes because they made a fateful trade-off in this shaky economy: They let their homeowner association dues slide.

Many homeowners are learning to their surprise that condo and neighborhood associations that oversee security patrols, mow lawns, plant flowers and clean the community swimming pool might have the right to foreclose when dues aren't paid. That right is often written into the purchase agreement signed by the homeowner.

Click on the following link to read moreā€¦

http://www.usatoday.com/money/economy/housing/2009-06-11-homeowner-associatio...


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