3 ms·

I seriously doubt the HOA can seize your home over $8.41 in back dues and pocket the difference after they sell it. The mortgaging bank OTOH is the actual owne

• tantalor 7y ago
  Not really; your equity is yours. The lien holder is only owed what they are owed.
• dragonwriter 7y ago
  > The mortgaging bank OTOH is the actual owner of the property up until you pay the full contractual price and they sign over the deed. No, they are the owner of the mortgage which is recorded on the deed until the terms of the mortgage are fulfilled. While a mortgage is a real property interest, it is not ownership of the underlying property.
• Digory 7y ago
  This is a misunderstanding of the way US property law works. The individual is the "owner" at all times. Others can have debts secured by the property, but that does not make them the owner. When you pay off your loan, the bank's interest in the land is released. And yes, in the US, an HOA has an interest in the land not too dissimilar from the lending bank. And like a lending bank, most of them can "foreclose" by forcing the auction of the property to pay the debt, for very small sums.