Gainesville Short Sales – What is a HOA Foreclosure? HOA foreclosures in Gainesville Florida and state wide have become a huge problem for homeowners that are delinquent on their HOA fees. HOA stands for “ Homeowners Association”. HOA foreclosures have been a growing problem for some time now. Most people do not know that their HOA is even legally capable of doing such a thing, however with these foreclosures on the rise many homeowners are finding out the hard way that this is a reality.
Just about half of the states allow “non judicial foreclosures” meaning that HOA’s are legally able to foreclose on homes due to homeowners becoming delinquent on their fees. Even in the states that require approval for an HOA foreclosures, the HOA normally wins. Florida is a “Judicial” state. With how the law currently sits, no matter how small the delinquent amount is an HOA has the grounds to proceed with a foreclosure, especially if the homeowner has uncured interest and fines.
HOA foreclosure in Gainesville process normally goes something like this: a homeowner becomes delinquent on their dues, the HOA attorney places a lien on the property, then runs an ad in the local paper announcing the homes legal status and once that is done the home is auctioned off. The homeowner has no right to a hearing and no right to confront their HOA board!
HOA’s have been around for a very long time, since the 1920’s. The primary role of an HOA is to enforce standards in a community and make sure its community members are following the regulations and the rules of the community. HOA’s responsibilities range anywhere from basic maintenance functions to extensive upkeep of the property.
Some HOA’s in Florida are so desperate and financially strapped for money that the actions they are taking seem to go to extreme lengths to collect the past due fees. One of the most extreme actions at their disposal is filing a foreclosure on a homeowner that is delinquent on the HOA fees.
Unfortunately Florida law does not impose any minimum dollar amount owed before an HOA can start a HOA foreclosure in Gainesville proceedings on a homeowner that has become delinquent in fees. Late fees, interest, and attorney fees are added to the amount owed to the HOA, and the total amount that is owed to the HOA can end up being thousands and thousands of dollars.
I cannot stress this enough that when you are facing foreclosure on your home, you will need to find all of the information available to you. You will need to do your homework and seek professional legal help to get the advice necessary to make a sound decision on what you are going to do and all of the options that are available to you.
Once you have made a decision to pursue an alternative option to foreclosure and would like more information regarding these matters we advise you to choose someone that has extensive experience and knowledge in the foreclosure and short sale process. Laws and procedures are always changing, you will want to find someone that has the most current information available. The success of your short sale option will depend on this. For more information on the foreclosure process, foreclosure alternatives, short sales, HAFA and the HOA foreclosure in Gainesville process please call our office to speak with one of our experienced agents.
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Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.
Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.