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A Homeowner’s or Condominium Association (also known as “HOA” or “COA” or collectively referred to as the “Association”) is a legal entity created in order to ensure that a neighborhood of homes or condominium units with common elements function properly. In order for a Homeowner’s Association to function properly, they are given a power to place a lien over any homeowner or condominium unit owner who does not follow their rules and regulations. Such lien may lead to a foreclosure of the unit holder’s property in some circumstances.

The Homeowner’s Association and/or the Condominium Owner’s Association typically have two functions. First, the Association ensures that the rules and regulations of the community are followed. Second, the Association collects assessments and fees related to property ownership within the community. Such fees are used towards items indicated in a yearly budget, which is comprised of day-to-day repairs and services. This can include monthly pool maintenance or regular cleaning services. The yearly budget can also account for items such as employee salaries, anticipated repairs and/or legal fees. The budget total is then divided by the number of units in the community and each owner is required to pay their share of the fees. Further, if there are any unanticipated expenses, the owners may be required to pay their proportionate share above and beyond the monthly maintenance fee. Failure to pay such fees can subject an individual’s home to foreclosure. The most common reason why an Association will resort to foreclosure is the failure of a homeowner to pay maintenance fees and/or special assessments charged by the HOA or COA.

If a homeowner fails to pay maintenance fees assessed by the Association then they will be responsible for the unpaid assessment charge, late charges, reasonable costs of collection (attorneys fees), fines (in some cases) and interest charges. The owner will also be responsible to pay for their own foreclosure defense as the process is the same as if the home were foreclosed by a bank.

Contact the attorneys of The Ticktin Law Group to assist you with foreclosure defense action and/or any other legal matter you, a friend or a loved one may have. The attorneys of The Ticktin Law Group offer complimentary legal consultations.

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