How An HOA Can Foreclose On Your Home
When most people hear the word "foreclosure"...
They immediately think...
Someone stopped making their mortgage payments.
But what if I told you...
You could be current on your mortgage...
And still lose your home?
A recent report highlighted a growing trend of homeowners associations becoming much more aggressive in collecting unpaid dues. HOA-related foreclosure filings reached 6,376 properties in the first quarter of this year, nearly 40% higher than two years ago, as associations face rising insurance, maintenance, and operating costs.
Today, Dwight Millard of On Q Home Loans, Aaron Clark…
The skinny
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