Homeowners’ association (HOA) dues are mandatory. If you do not pay them, then the HOA will have a right to foreclosure on your property to collect their dues. Even so, depending on the state you live in, you may have the right to redeem your property. In other words, you may pay past dues you owe to stop the foreclosure process.
Not all states give homeowners the right of redemption. However, in most cases, where the state does provide for a right of redemption, the homeowner’s association cannot force the homeowner to waive this right in its CC&R’s.
The right of redemption usually occurs after the foreclosure sale has gone through. Afterwards, depending on the type of foreclosure, the homeowner has a period of time to buy back its property. For example, in California, the property owner has 90 days after a non-judicial foreclosure has occurred.
Even if your state does not have a specific right of redemption law, there may be other venues to reclaim your property.
In most cases, the homeowner must pay the entire HOA lien amount, the interest, and attorneys’ fees associated with the redemption.
You will need to retain a real estate lawyer to help you in the redemption process. He will show you your options and walk you through the process.