Fact or Fiction: Homeowners Associations
Think you know all there is to know about your homeowners association? Think again. Take our quiz and see exactly how much control the group that's governing your neighborhood has.
Some homeowners associations have voluntary memberships.
Homeowners associations can foreclose on, but not evict a homeowner.
HOAs can restrict what color the paint can be on the exterior of your home.
HOAs get their authority from local government.
HOAs cannot levy regular dues on residents because this essentially taxes them twice on their property.
Deeds, while incredibly restrictive, are not necessarily final. Some homeowners are able to gain "variances," or exceptions, to the rules.
School buses sometimes are not allowed within the gate of gated HOA communities.
If your car tire is sitting even 1 inch on your grass, you could be violating your HOA's rule that restricts cars from parking on the lawn.
If your house is totally paid off, you no longer have to adhere to an HOA's deeds or covenants.
Sometimes HOAs' rules are in place strictly to retain the community's aesthetic appeal.
HOA boards of directors are always made up of local business men and government officials.
Members of the HOA board are prohibited from purchasing a home the HOA foreclosed on, because this represents a conflict of interests.
About 62 million Americans live in homes governed by HOAs.
About 40 percent of all homeowners living with an HOA say they are satisfied with its rule.
New housing developments are increasingly built with community associations to govern them.
In states such as Texas, lawmakers have been proposing legislation to reduce the power of HOAs for at least a decade.
When you sell your home, your HOA could charge you several thousand dollars worth of fees.
HOAs cannot foreclose on the house of a U.S. soldier on active duty who is stationed outside his home state.
There's no risk in taking an HOA to court over a fine you don't want to pay. Worst case scenario, you'll have to pay the fine anyway.