Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
In reference to House Bill 1541, (Homeowner Associations of North Carolina) effective 01.01/2006, an HOA can forclose on a home only by seeking a judicial forclosure which requires a lawsuit seeking a court order allowing such action. An HOA does not have the power to forclose on its own without court intervention. In paragraph 5, (section a) information concerning the mandatory written 15 day grace period for the homeowner is discussed.
Yeah, it's all semantics anyway... interpret what "foreclosing" means, but one thing that will be certain is that the primary lien holder (aka the BANK) is going to get paid first - most likely there's also a 2nd involved who will get paid next.
In the end, the HoA would get scraps (if anything at all) and probably spend more. Seems more about a power play then anything else.
Yeah, it's all semantics anyway... interpret what "foreclosing" means, but one thing that will be certain is that the primary lien holder (aka the BANK) is going to get paid first - most likely there's also a 2nd involved who will get paid next.
In the end, the HoA would get scraps (if anything at all) and probably spend more. Seems more about a power play then anything else.
Fortunately, if things are done properly, the HOA will recover expenses from law suits. I am the HOA president of my neighborhood. As soon as we are financially able to hire a management company, we will. Our biggest problem is that owners of homes with renters are often slum landlords and I have to stay on them relentlessly as most of them live in California, Pennsylvania, and New York. Luckily, I made personal contact with all homeowners in the community that were late with HOA dues and they all cooperated. The developer (Anaheim Homes) skipped town owing lots of contractors money and not completing the subdivision's infrastructure. Fortunately there is a $150K bond being held so if the contractor doesn't finish what was promised, the city will do it using the bond money. HOAs are a unwanted neccessity. If my wife and I hadn't jumped in and taken over as HOA officers, the community would have continued to consist of neighbors waiting for a miracle to jump in and pay bills, repair sewage problems, ensure street lights remain on (which we did as they were shut off) and other things. Have not had to look into foreclosures personally at this point.
Fortunately, if things are done properly, the HOA will recover expenses from law suits. I am the HOA president of my neighborhood. As soon as we are financially able to hire a management company, we will. Our biggest problem is that owners of homes with renters are often slum landlords and I have to stay on them relentlessly as most of them live in California, Pennsylvania, and New York. Luckily, I made personal contact with all homeowners in the community that were late with HOA dues and they all cooperated. The developer (Anaheim Homes) skipped town owing lots of contractors money and not completing the subdivision's infrastructure. Fortunately there is a $150K bond being held so if the contractor doesn't finish what was promised, the city will do it using the bond money. HOAs are a unwanted neccessity. If my wife and I hadn't jumped in and taken over as HOA officers, the community would have continued to consist of neighbors waiting for a miracle to jump in and pay bills, repair sewage problems, ensure street lights remain on (which we did as they were shut off) and other things. Have not had to look into foreclosures personally at this point.
Yeah, you put the "people" aspect in it and did the work. You contacted home owners, landlords, the developer, the city, etc. Some posts in this thread actually stated that things were turned over to a lawyer and they wouldn't talk to homeowners anymore.
There's a big difference between the two... especially when you consider how many of the homeowners are upside down in their mortgage. Foreclosing on them appears to be the worst option. You should be commended for what you've done to help your community.
I'm not going to make a long winded post on all the points I disagree w/you on, but all I'm going to say again (which is my main point) that no matter what you say, people have the CHOICE to live in an HOA development and many people are very happy and satisfied living in one (they just don't rant about how good they are).
If you don't like it, don't move into one.
If I was only concerned about myself then your philosophy would probably work. Fortunately I consider others and their plight in dealing with HOA's and the State's derelict of duty in addressing the issue.
Yeah, you put the "people" aspect in it and did the work. You contacted home owners, landlords, the developer, the city, etc. Some posts in this thread actually stated that things were turned over to a lawyer and they wouldn't talk to homeowners anymore.
There's a big difference between the two... especially when you consider how many of the homeowners are upside down in their mortgage. Foreclosing on them appears to be the worst option. You should be commended for what you've done to help your community.
You are correct. The last desired option is forclosure as it costs too much. It is always better if the HOA can work with the tenant to get money in a manner that is suitable to both parties. Before these matters are turned over to a lawyer, there are prerequisites that must be met. First, the delinquent homeowner must be given a friendly notice of late payment. After a reasonable period period of time, a Pre-lean notice will be submitted allowing the homeowner 15 days to respond satisfactorily with either the money or a satisfactory payment plan.
An HOA can hire a lawyer to act for the them. Nevertheless, the notices must be given and it is irrelivant from whom the correspondence comes.
If I was only concerned about myself then your philosophy would probably work. Fortunately I consider others and their plight in dealing with HOA's and the State's derelict of duty in addressing the issue.
I am confused. When homeowners do not pay HOA dues, fees, etc, they are the ones that are derelict of duty. What are you talking about when you say the state is derelict? You need to get some information on HOAs and understand how they work and the laws which dictate. Everything is perfectly clear. People have to learn to be smart enough to study a situation before leaping into something they don't understand.
HOA's are a valid way of governing a community. Do I agree with everything my HOA does? Not everytime, but the board does have the fiduciary responsibility to make the correct decisions that will benefit the community.
I cannot see disbanding our HOA. We have too many common areas, a clubhouse, a pool and lots of community landscaping that brings a great sense of aesthetics to our community that need to be governed and paid for. These are one of the reasons why we bought here in the first place!
In fact, I get a little PO'd when I see people park boats and campers in our neighborhood or maintain other HOA violations. It's clearly against the rules and simply invites controversy. These people will get warned (and I guess worse if they don't fix the problem) and then it seems that they turn out to be the vocal ones whining about how the big, bad HOA is oppressive!
We elected to abide by the rules of the HOA when we signed our deed. A great part of that interaction is by paying our dues in a timely fashion. We do our part; the HOA does theirs. End of story.
BTW, I am not affiliated with the HOA in our neighborhood other than reading / abiding by the published rules AND by sending in my dues on time.
For what it's worth my HOA is very fair. Never hear a peep from them other than a yearly request for pool maintenance and the board election.
I have a neighbor across the street that runs a business renting limosines, and he used to park a few in view of my house. I decided not to be a whiney neighbor, and ignored it. But one of the other neighbors complained anyway and the board did ask him to store the cars elsewhere.
What you need on a HOA, are real home owners who understand the give and take of people's lives - and can balance when it's time to push and when it's not worth provoking poeple.
Check with your local police department. Neighborhoods with HOA's are safer than neighborhoods without one which are considered uncohesive and are more crime-ridden. If you have any common area at all or problems such as Sean_Clt mentioned, who do you suppose is going to take the time and effort to deal with it. No HOA? Good luck.
homeowner-Charlotte, can you go to small claims court, get a permit for a peaceful picket, get some people to picket around the somewhere with appropriate signs, get a little media coverage and make it a grass roots start?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Hoa's
