Falling behind on Homeowner’s Association (HOA) payments can lead to serious financial consequences for homeowners. Not only does the unpaid balance accumulate, but additional late fees quickly accumulate.
In the most severe cases, the HOA may initiate foreclosure proceedings in an effort to recover the debt, significantly worsening the homeowner’s situation.
We recently helped an individual faced with losing their home negotiate a payment plan with their HOA. Our HOA litigation attorneys obtained a stipulation allowing our client to pay off the remaining balance to avoid foreclosure.