Jacksonville residents living in communities with a homeowners associations (HOA) should be aware that Florida HOAs can foreclose a home for failing to pay dues. Some Florida borrowers are surprised, despite putting every penny towards staying current on their mortgage, when they still lose their home if they do not pay their HOA dues. Many homeowners are surprised when they find out they didn't lose their home to their lender; they lost it to their local HOA.
As Jacksonville Foreclosure Defense Attorney's, we have noticed a recent trend were Jacksonville residents are now foreclosure by their HOA. It is important to note that when you buy a home with a Florida HOA, you are buying into a deed restricted community. The agreement stipulates that you will abide by the HOA's rules. What many homeowners living in a community with an HOA fail to realize is that the remedial action for violation of these rules is sometimes foreclosure. Thus, they are legally entitled to foreclose your home.
If you live in a Florida community with an HOA and are facing the prospect of a foreclosure by your HOA, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Lawyer today to see what options may be available to you..
