Like the fact that the HOA tried repeatedly to contact the soldier's wife, who admitted to reporters that she didn't open the mail and ignored multiple attempts to reach her about the past due assessments.
The wife who apparently never even bothered to contact the HOA to let them know her husband was serving.
The wife who ignored being served with notice of the foreclosure sale.
And the wife who also apparently ignored the letter telling her she had 180 days to redeem the house (meaning, she could get it back if she paid the $3,500).
The reason HOA foreclosures in Texas sell for such a small amount is simple: Texas law, in many cases, allows for "right of redemption" where folks can, up to a half a year later, get their homes back by paying the foreclosure fee, attorneys fees, etc., (or, in this case, the $3,500).
The HOAs are not brokers or real estate agents, they are only asking for what is due to the association. Most potential buyers don't want HOA homes because there is a good chance the homes are redeemed and they lose interest on the money sitting around waiting for the home to pass the statutory limit.
For those who like to scream about judicial foreclosure, it would only make it more expensive for folks to get their homes back, because it raises the attorney's fees considerably.
But hey, let's knock the HOA for trying repeatedly to reach out to the soldier's family, who admitted to the news that they repeatedy ignored the HOA. Yeah, it's the mean HOA's fault...for providing the community pool, landscaping, lighting, amenities, whatever and expecting people to pay their fair share of the bill.
It's not like the HOA can "shut off" your community the way that the water service can shut off your water when you don't pay. And the time limit from the first late payment to the actual foreclosure usually runs almost a year. Try holding onto debt for a year and see how long you can pay your business' bills.
>For those who like to scream about judicial foreclosure, it would only make it more expensive for folks to get their homes back, because it raises the attorney’s fees considerably.
I direct your attention to my post 42:
http://www.freerepublic.com/focus/news/2525769/posts?page=42#42
Thank you for saying, quite eloquently, what I’ve been trying to say.
The HOA doesn’t provide anything anymore than the government does. It’s the resources of the membership that provide. The HOA isn’t even a governing body. The CC&Rs are the ruling documents. The HOA simply has a duty to carry out the CC&Rs.
If a member doesn’t pay his dues, the HOA can foreclose, judicially or non-judicially, depending on the state. But if a homeowner has a beef with the HOA, they have to take them to court. The individual homeowner has no power whatsoever against the HOA except what they can glean through civil court.
you’re kidding, right? what part of a PAID FOR 300k house was sold for $3500 over an $800 DEBT do you not get? I don’t give a flip how many times they tried to reach the wife.