Friday, May 14, 2010
Recently a local San Antonio television station reported that HOA abuse is on the rise in San Antonio. HOA stands for Home Owner Association, which is a group of your neighbors who are elected or appointed to run your neighborhood and assess fees against its residents. According to the report, it stated a man's $165,000 house was auctioned off by the HOA board, to pay a $700 debt. http://fwix.com/sanantonio/share/eb0b2548c7/homeowner_association_foreclosures_skyrocketing?eref=190834_10 They also reported that the HOA added on charges and attorney fees to take the debt up to over $2,000.00.
If you live in a neighborhood with a HOA, make sure you read your HOA rules and regulations that came with your house closing papers. Also make sure that the HOA was properly organized. Many HOA actions are done with good in mind, but with their power and politics their actions can become selective and abusive. If you feel your HOA is going to far, document everything, take photographs, get actions in writing, and consult with a attorney to assist you before their actions go too far.
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