HOA foreclosures climbing as associations seek ‘revenge’ on delinquent homeowners

Fed up with late dues and mounting maintenance bills, some homeowner associations are motivated by spite, over sound business sense, to foreclose on delinquent owners.

Property managers and condo board advisers say taking title to a property for a few thousand dollars in unpaid association fees in a “vengeance foreclosure” isn’t always the best answer.

But emotions can override fiduciary smarts when a neighbor is tapping the cable TV for free.

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