What is a HOA Lien?

Basically, an HOA lien is a legal claim toward a property in order to get unpaid HOA fees. If an owner neglects to pay their fees, the HOA has a legal right to put a lien on their property.

Meaning that the owner is going to be unable to sell or refinance the home until the outstanding balance is completely paid.

What Happens if I Don’t Pay the Lien?

When the owner neglects to pay the lien, the HOA might in due course foreclose on the house. This is a significant issue and one that you are going to want to avoid if possible. If you are having challenges paying your fees, make sure to get in touch with your HOA.

It is a lot better to be clear about your situation than to struggle with it by yourself.

How Can I Avoid an HOA Lien?

Obviously, the best way to prevent an HOA lien is to just pay your fees in a timely manner.

Regrettably, unexpected financial difficulties can make this challenging for many homeowners. Should you find yourself in this position, the best thing to do is to get in touch with your HOA sooner than later to explain your circumstances and devise a payment plan. With open dialog, you can prevent an HOA lien and keep your home secure.

Can a HOA Lien Lead to My House Being Foreclosed?

If you neglect to pay your HOA lien, the HOA may in due course foreclose on your home. A foreclosure could result in the loss of your home in addition to numerous other problems, like a blow to your credit score.

Make sure that you retain this information so that you can avoid the challenges related to HOA foreclosure.

How Do I Get an HOA Lien Removed?

When you have an HOA lien on your house, the best thing you can do is to pay the lien off sooner than later. After you have paid the unpaid balance in full, the lien is then going to be removed from your property.

As afore mentioned, those who have difficulty dealing with this liability should get in touch with their HOA to discuss their possible options.