Unpaid HOA Assessment Can Lead To Foreclosure

Unpaid HOA Assessment Can Lead To Foreclosure

Homeowners who do not pay their regular and special assessments are subject to foreclosure. They also could have a personal money judgment entered against them.

If the community takes action, the homeowner would be responsible for attorney fees, interest and administrative fees, in addition to the assessment amount. These costs can add up, and I have seen many instances in which the costs are much more than the unpaid assessment.

This is a serious matter, and many homeowners don't understand the consequences. If you receive a bill you don't agree with, contact the association. If it is not quickly corrected, in writing, pay the bill before continuing to fight the charge. This will stop additional costs from accruing.

I know how frustrating it is to pay for something that you're disputing, but it's important to stop additional fees from building up. You can continue to seek reimbursement without digging yourself into a deeper hole on the chance that the charge is indeed valid.

If enough members of your association dispute a special assessment, or if you think it might have been levied improperly, you should contact an attorney to discuss your options.

About the writer: Gary M. Singer is a Florida attorney and board-certified as an expert in real estate law by the Florida Bar. He practices real estate, business litigation and contract law from his office in Sunrise, Fla. He is the chairman of the Real Estate Section of the Broward County Bar Association and is a co-host of the weekly radio show Legal News and Review. He frequently consults on general real estate matters and trends in Florida with various companies across the nation.

Copyright © 2016 Sun Sentinel (Fort Lauderdale, Fla.), Gary M. Singer. Distributed by Tribune Content Agency, LLC.


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