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The HOA Has Foreclosed on a Home for Delinquent Dues, Now What? (NC)

/ Owner - June 24, 2019

What happens when an HOA completes a foreclosure sale of its claim of lien for unpaid dues? There are several common outcomes which are listed below in order of frequency in our experience:  (1) The owner/occupants are evicted and the house is left empty. The Association should include this property on its general liability policy in case someone gets hurt on the property. Eventually, if there is a mortgage on the property (and there is almost always a mortgage) the mortgage company will eventually foreclose and take title from the Association. It is a common misconception that the Association is responsible for any outstanding mortgage if the Association completes a foreclosure sale. This is not the case.    Read the article…………………….

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