Foreclosure is a bit of a dirty word. Nobody wants to see anyone thrown out of their home – but it happens. There are basically two different kinds of foreclosure homeowners association need to worry about: Foreclosure by the bank and foreclosure by the association itself. When a bank forecloses on a home in the development there are three things the association is concerned with – getting the unpaid HOA dues, keeping the property maintained if it is standing vacant, and making sure that the rules are followed when the bank sells the home to another person. Read the article………………….
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