HOA Foreclosure - A New Trend in Florida - Is it Legal?
Recently many HOA's have begun to foreclose on homeowners for small amounts of past due debt. Most of the debts are less than $5,000. Usually this forces the homeowner to pay - but what if the homeowner doesn't? Generally the properties are sheriff sold and some other person now has the chance to buy your house for the debt owed to the HOA. If the house has equity you will lose it! A person recently purchased a house worth $175,000 for $3,900. The homeowner is then instructed to move out within 48 hours! The bottom line is HOA's and Condo associations do have the right to sue you and take your property! If you are sued I highly suggest contacting an attorney immediately to prevent losing your home.
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