Foreclosure Notice Didn't Come From Bank. Their HOA Sent It.

[Robert59]

n Colorado, HOAs can foreclose on homeowners who fall behind on monthly fees.

At first it was denial, like, 'Oh, that’s just a threat. They can’t take away your home.' And then, as things progressed, [we realized], 'Yes, they can take away your home.'" The "they" in this case wasn't the Colorado townhouse-owner's mortgage lender. It was her HOA. A joint Rocky Mountain PBS/ProPublica report takes a deep dive into the ability of homeowners associations in Colorado to foreclose on homeowners who fall behind on the monthly fees they pay to cover common expenses that can range from landscaping and repairs to a neighborhood pool and trash collection. The state is home to more than 10,000 HOAs—almost half the state's residents live in property governed by one—and the report finds they wield "enormous power" over homeowners.

https://www.newser.com/story/319103/their-mortgage-was-paid-but-hoa-threatened-foreclosure.html

 

[Remy]

That's crazy and scary. I do wonder about those home owner fees. Are they properly managed? Does the money really go to pay for big repair jobs like roofs, outside painting, fences? Does some of the money go to pay for employees, even in the office. Is it all handled legitimately?

 

[Lawrence]

I have seen some of the HOAs in Colorado for I live in this area. I would never move into a housing development that has a HOA. I like diversity in landscaping and households. When I drive through housing developments with HOAs I feel as though those people are living in a communist society and I do not want to be a part of it.

 

[Alligatorob]

I have seen some of the HOAs in Colorado for I live in this area. I would never move into a housing development that has a HOA. I like diversity in landscaping and households. When I drive through housing developments with HOAs I feel as though those people are living in a communist society and I do not want to be a part of it.

Couldn't agree more!

 

[Remy]

I have seen some of the HOAs in Colorado for I live in this area. I would never move into a housing development that has a HOA. I like diversity in landscaping and households. When I drive through housing developments with HOAs I feel as though those people are living in a communist society and I do not want to be a part of it.

I agree when it comes to houses. They try to sell it as some sort of "protection" but it just ends up being control and BS. It's expected with a condo purchase but makes no sense with stand alone houses on their own land. I've heard these jerk associations will tell you that you can't have window coverings that aren't white!

 

[Jeni]

That's crazy and scary. I do wonder about those home owner fees. Are they properly managed? Does the money really go to pay for big repair jobs like roofs, outside painting, fences? Does some of the money go to pay for employees, even in the office. Is it all handled legitimately?

my son in law was the president of his HOA over a bunch of town homes... the officers of his HOA did not get paid
it is important who is elected etc as the previous president was a woman who wasted money and they thought she might have even stole funds.
most all landscaping and fencing etc was all taken care of although people could do different flower beds etc in front of homes.

 

[Remy]

my son in law was the president of his HOA over a bunch of town homes... the officers of his HOA did not get paid
it is important who is elected etc as the previous president was a woman who wasted money and they thought she might have even stole funds.
most all landscaping and fencing etc was all taken care of although people could do different flower beds etc in front of homes.

Yes, that's the worry, that some people abuse the funds.

 

[Alligatorob]

Seinfeld, George's parents HOA meeting

 

[Buckeye]

{shrug} I've spent most of the last 30 years living in various HOA communities, and have never had an issue. And yes, the HOA can foreclose if you don't pay your dues. My second wife had a much older sister that had a paid-for condo in Florida that foreclosed on her because she refused to pay the monthly dues. It may sound harsh, but if the HOA doesn't have any recourse for non-payment, everyone would stop paying.