Another Family Manages To Save Their Home!

Here is yet another story of a family who managed to save their home from foreclosure!

It seems that if you are subject to homeowner association fees, if you don't pay them then they can foreclose on your property. In this instance the family owned their home free and clear but the homeowner's association could foreclose on their property even though they owed less than $1000 on their homeowner's association fees! What makes this story even more sad is that the home, worth $300,000, was sold to a bidder for $3,500!

According to the article, "In Texas and about 30 other states, HOAs have the power to foreclose on your home if you fail to pay your home association dues, even if you own it free and clear". This has angered a lot of people and this particular story has brought it more into the light!

And then another fact included the fact that the husband was in the military. There is a federal law that protects those on active duty from certain legal and financial obligations, including foreclosure, without going to court. (To find out more about government grant programs and other financial aid programs for veterans please see my Grant Basics 101 Blog)

But this story has a happy ending! The family was able to come to a settlement agreement with the homeowner's association.

You can read the article for yourself by clicking here.

Another source of money is unclaimed money. You can find out more about unclaimed money by visiting my blog, The Unclaimed Money Blog