FORECLOSURE

May my HOA foreclose on my property simply because they hold a $100 lien and if so what happens if the property sells for less than the mortgage plus attorney fees, late fees, ect.

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by DASHER48:
May my HOA foreclose on my property simply because they hold a $100 lien and if so what happens if the property sells for less than the mortgage plus attorney fees, late fees, ect.<HR></BLOCKQUOTE>

I am not privy to applicable State law or the By-Laws of the HOA. In general, a HOA may foreclose on a lien of $1.00.
If the property sells for less than outstanding encumbrances, then the HOA will most likely ask the court for a deficiency judgement against the owner for whatever the unpaid amount is.