Can the association foreclose on a property?

YES they Can! If you are behind on your HOA payments or special assessments, even if you are up to date with your mortgage your HOA has the right to put a lien on your house, or even foreclose on your property making you responsible for attorney fees, interest, late fees, and administrative fees in addition to your regular dues.

More importantly, associations are not legally obligated to negotiate or reduce these costs, so the faster you get in contact with your association and solve the issue the better.

If you are in a loan modification process with your bank, remember you or your attorney are only negotiating your mortgage payment. Your HOA dues are completely separate, so even if you get your loan modification approved, you will still need to pay all your back dues to the HOA. What good is it to finally get to an agreement with your bank only to realize you accumulated thousands in unpaid HOA assessments that won’t be negotiated or reduced? Always pay your regular HOA and special assessments on time.

What if you don’t agree with the charges? Contact your HOA right away in writing and try to solve the issue before payments accrue. If not successful on your own contact an attorney to discuss your options.  

As always I’m here to help you with all your real estate needs.

Maria T. Villalobos Cell. 786-285-5855 * info@bestmiamihomes.net * www.VillalobosRealtyGroup.com