A homeowners’ association (or, HOA, if you prefer acronyms) can be either a dream or a nightmare for a homeowner, and this is almost entirely based on your point of view. The reason for this is tied to the fact that homeowners’ associations exist for a reason. Typically, their mission statement will include goals regarding the overall betterment and maintenance of a community, and through their bylaws, HOAs will have a significant measure of authority to help reach those goals.

Part of that authority may include the ability to perform a non-judicial foreclosure on a property whose homeowner did not pay their HOA dues on time. If you’re thinking about purchasing a property that comes under the authority of an HOA, why not do some homework before you commit? Being familiar with the bylaws of the HOA and finding out what the existing homeowners think about it can go a long way toward helping you make a good decision.

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