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Short answer is yes - any lien can eventually force the sale of property but it varies by state law, & usuall takes 6-9 months before an actual foreclsure is done.
Another Answer
Yes, if by 'late payment fees' you mean the extra, penalty amounts added to your assessments which you have not paid, even though you've paid your assessments.
Foreclosure in the case of non-payment of assessments is the final and most drastic step that the HOA can take to collect the money you owe. You can read about the HOA's responsibility to collect these monies in your governing documents. You can also read about the penalties that accrue on the past-due amounts.
Your question sounds like you've been struggling against paying the money you owe for a time, and it's simply the excess, penalty amounts that are in dispute. If you want to protect your investment and keep your home, you are well advised to pay the late payment fees, and continue to pay your assessments on time.
What else can I help you with?
Do car dealers charge late fees?
Yes, if you pay your car payment at a car dealers office they will charge a late fee. Anytime a payment is late, the dealer has a tight to charge late fees.
Do late fees be used for repossession of a vehicle?
can you repossess a car for non payment of late fees even though the initial payment has been made in Colorado
Can late fees be charged by eye surgeons?
If their billing agreements call for it, late payment fees can be charged by anyone.
you keep returning my payments..then charging me late fees?
If the payment is received after the due date, late fees can be charged.
If you are only two months behind can they foreclose your home?
Yes; they can foreclose technically even if you're only 30 minutes late.
What are the principal fees associated with this loan?
The main fees for this loan include origination fees, interest charges, and possibly late payment fees.
How many months of payment will you have to default on before foreclosure?
legally: ONE Banks like to try to get you to pay up and continue on but can foreclose as soon as the first payment is late.
Is the co-signers credit affected if a monthly payment is late?
Yes. The co-signers credit can be affected if a monthly payment is late. He may also owe late fees.
What are the consequences of a late payment on my mortgage?
The consequences of a late payment on your mortgage may include late fees, a negative impact on your credit score, and potential risk of foreclosure if payments are consistently late.
How many credit score points do you lose on a late mortgage payment?
750 points plus late fees and other penalties plus all the fees etch.
Get Rid Of Late Fees?
You should use credit card bill payment online to help reduce your late fees. The best thing about this service -- besides the convenience of being able to make the payments from the comfort of your own home -- is that the payments will arrive the day after you send them in. They can be wired straight from a bank account to the credit card company. Even if you forget to pay until the last moment, you can send the payment in. You do not have to depend on the Postal Service and will not get late fees because you miss the mailman on the day the payment is due.
What are the Texas Laws for Self Storage Payment Late-Fees?
Pay them or your stuff will be auctioned.
