Jul 01, 2009

Homeowners' Association Dues: Pay or Face Foreclosure!

Having a hard time keeping up with your mortgage? If so, you're like many other Americans, for the mortgage is a first priority -- and primary source of worry.

But don't let that lead you to forget that homeowners' association dues are almost equally important. If left unpaid, the association may have the right to foreclose on you -- check your purchase agreement for details.

Worse yet, it may not be your fellow homeowners who make the decision. Homeowners' associations commonly turn the difficult job of dues collecting over to management companies.

For more information, see the article, "Neighbors are forcing neighbors into foreclosure," by Paul J. Weber, Associated Press.