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Even before a resident owner in a HOA community goes into default or foreclosure they may be faced with the choice of whether to pay or not pay their HOA dues. I have heard from both HOA Boards and community members that they are often faced with whether to pay the HOA dues or take that specific sum of money and apply it to their now-adjusting mortgage payment.
Of course, the Board and the community feel the impact of these decisions in delinquent assessments, and on-going collection efforts, which many times are fruitless where the homeowner is so upside down they couldn't even contemplate paying the dues without first considering the impact on their current adjusting mortgage.
There is really no easy solution to this problem and each community is faced with a responsibility to collect the assessments to ensure a proper functioning community. However, if Boards take a hard line with the residents over unpaid assessments they may find that they eventually have another foreclosure in their community.
Note: The information contained is not legal advice and does not establish an attorney-client relationship. Contact us via email Ryan.McClure.Esq@gmail.com, website: http://www.rpmcclurelaw.com/, or call us at 951.818.0687
