http://www.batonrougerealestateappraisal.com/ – Homeowner Associations using reverse foreclosure to get fees from banks. Is This Occurring In Greater Baton Rouge Real Estate?

eRealEstateSocial.com is reporting on an interesting new legal tactics Homeowner Associations are using to get paid delinquent HOA Fees from foreclosured owners and/or banks. The link to the article is here, “Associations Using Reverse Foreclosure To Get Fees From Banks“.

Here’s a snippet:

“When a home or condominium owner stops paying, the association files for foreclosure itself and takes title. It can do this because of the unpaid fees. The association can’t sell the home, though, because of the bank’s lien. So it asks a judge to give the title back to the bank.

Once the bank owns the property, it has to pay the fees.

The legal tactic is new but is gaining popularity as more associations hear about it.

So far, it has been used mostly by associations in South Florida.”