Are HOAs A-Ok?

About 20 percent of American homeowners live in an association. However, in this economy, owners who aren’t making their mortgage payments often don’t make their HOA and condo dues payments, either.

And in some states, lenders don’t have to make up all the missed payments when they take over the properties. That has created significant financial problems for some associations.

Consequently, some associations are in serious trouble. Responsibilities like trash collection, pool maintenance, even resurfacing the streets are being neglected, because they lack enough money in reserve.

So before you buy a home in a HOA community, double check their financials. MSN real estate tells us more.

Financial problems aren't the only negative buzz about HOAs these days. In their effort to hold up communities, some argue they have too much control.

Do you find that associations protect property values or do they violate people's rights?

ABOUT ME:

I live, work and play in Conejo Valley and specialize in Agoura Hills and Westlake Village real estate.

Where you live is more than a roof over your head. It should improve your quality of life – spiritually, emotionally and psychologically.

In my home and garden articles, you’ll find some great tips on how to make your house, not just a home, but a sanctuary.

Through my blog, I hope you’ll also gain some insight and find tips and resources that will help you navigate through the current market, whether you're buying or selling.

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