CALIFORNIA – Legal Ruling Strikes Blow to Homeowners Association

WebWire.com: Legal Ruling Strikes Blow to Homeowners Association
Ruling in the case that inspired the bestselling novel, “HOA Wire” holds that foreclosure sale after judicial foreclosure judgment is void due to failure to follow pre-foreclosure requirements of Davis-Stirling Act.

Santa Monica, California – WEBWIRE
October 17, 2015

Author and attorney Kenneth Eade announced today a court ruling invalidating a foreclosure sale in the case that inspired his bestselling novel, “HOA Wire.”

In California, the Davis-Stirling Common Interest Development Act, gives a homeowners association the authority to levy assessments, which become an involuntary lien against the homeowner’s interest when the HOA records a “Notice of Delinquent Assessment,” and gives the HOA the right to enforce that lien in any manner permitted by law, including foreclosure. Thus, if the homeowner does not pay a delinquent assessment, his or her interest may be sold at either a judicial or non-judicial foreclosure sale, resulting in the possibility of the HOA becoming the owner of the unit and evicting the homeowner from their own home. Read more:

http://www.webwire.com/ViewPressRel.asp?aId=200501

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