How Safe is Your House from Your Homeowners Association?
More than half of all homeowners in North Carolina live in covenant-controlled developments or Homeowner Associations. One of them is Becky Lew-Hobbs. She and her family owned a home in VillageLakes, near Raleigh. Becky admits the family got behind in their dues when her husband was out of work. But they tried hard to come up with the $1,143.89.
Suddenly, they were told they were being evicted from their own home and had FIVE days to pack up and leave. Becky says they were never notified that their house had been seized in a foreclosure action ten months earlier. That $1100 bill cost them their $160,000 home.