No HOA foreclosures!
An HOA should not be able to initiate any type of foreclosure on a home for any reason. My son lost his Aurora home, which had a value of over five hundred thousand dollars, in a judicial foreclosure over an HOA debt of under $2000. Yes, not a typo. Make the HOA file liens on the property instead, or initiate a civil case against the homeowners.
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Thank you for visiting the community engagement tool for the HOA Homeowners’ Rights Task Force.
Pursuant to HB23-1105, this project has now concluded. On behalf of the Department of Regulatory Agencies and the Division of Real Estate, thank you for your interest and participation.