Redding's Ups and Downs

People need to be aware that by not paying their homeowner association dues, they can lose their homes.  A HOA in Texas took tile to a home on the steps of the county courthouse where the homeowner owed less than $800 to the association.   Apparently this is not uncommon these days, as borrowers let the dues slide to keep their home mortgages current.  

Thirty four states allow for judicial foreclosures by HOAs.  The redemption periods differ from state to state. The redemption period is the amount of time that a homeowner has to pay up all the dues and fees after a homeowners association has officially taken title to the home.

California has a 365 day redemption period but many states have no redemption period.