Common interest developments, such as condominium projects and planned-unit developments, usually involve an additional monthly fee. A homeowners association, or HOA, levies the same fee for each owner within the community. HOA fees fund the everyday maintenance, services and tasks of the HOA, and therefore are mandatory. The homeowner remains responsible for his share of HOA fees despite financial distress or foreclosure. Although you may lose the home, that doesn’t erase the HOA fees owed. Read the article……………………
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