South Carolina is introducing a bill that may take away the HOA ability to foreclose on home. Many assume it is the HOA Manageent Company that has the authroity to foreclose, however; it is the Corporation which is the HOA that has the ability to foreclose on a condo, townhome, singlefamily home, etc. The inability to foreclose may cause non-payment of assessments to spike!
In the example listed in the video, it appears the legislation will only effect single family HOA communities.
Leave a Reply