Tuesday, April 30, 2013

Can an HOA in Texas forclose on your Home?

This is why I have reservations about HOAs. They might keep up the neighborhood, I'm not really sure how. Our city is run like an HOA so if you follow the rules your neighborhood should not deteriorate. To pay someone to tell me that I can't put up a flag would drive me nuts. Our city, Richardson Texas, will cite you if one tire of your car is on your own lawn.

I digress, an HOA can foreclose on your property if you don't pay the dues. Ask your realtor and be sure you know everything about the HOA before you move into a neighborhood. If you sign a contract, they can probably do it. Ponder this, you get behind on your HOA dues and they come in and foreclose on your home.

There are petitions out there to stop this practice in Texas. I'm not sure how it works with a homestead. Something we need to blog about.

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