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Q.What happens if I fail to pay my monthly association dues or a special assessment?
A.Pursuant to California law, if an assessment (regular monthly dues and special assessments) are not paid within 15 days of the due date, a delinquency occurs. Once delinquent, the homeowners' association (HOA) may impose a "late fee" of $10.00 or 10%, whichever is greater, unless the CC&Rs specify a lesser amount. If an assessment becomes delinquent for over 30 days, in addition to the late fee the HOA may assess interest up to 12% per year on the unpaid balance owed by the delinquent homeowner. If the homeowner still fails to pay the delinquent assessments, the HOA can seek a personal judgment and/or lien the delnquent homeowner's property for the amounts owed plus attorneys fees and costs. And most important, if the assessed debt reaches $1,800 or more or becomes more than one year old (even if only $100), the homeowners association (HOA) can initiate foreclosure proceedings.
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