by: Mike Hunter
Charlotte attorney Michael Hunter specializes in community and condominium association law for the firm of Horack Talley.
Q. It seems in today’s economy that a lot of HOA foreclosures don’t result in a collection of the debt owed to the HOA. The owner either abandons the property, or the HOA lien is extinguished by the foreclosure of a superior deed of trust to a mortgage lender. It seems the HOAs rack up a lot of fees to foreclose against homeowners that are going to walk away from the debt one way or the other. Is there a better option?