Homeowner's Associations

When you're moving into a new house, you have a lot to take care of. Sometimes, amidst all those boxes and pieces of furniture and new bills that need paying, you can forget about contacting the Homeowner's Association, or HOA. The HOA is an organization set up by the real estate developer, the purpose of which is to manage and sell a housing development. Usually, these HOAs are non-profit corporations, and they serve to represent and respond to the needs of the people living in the development.

Traditionally, HOAs attempt to maintain the value of the homes in the community, and to look out for the interests of the development. The HOA will have a written list of requirements and conditions that must be followed by everyone who owns a house in the community.

For example, the HOA will often have requirements about:

• How often grass is cut
• Acceptable types of fences around yards
• Colors you are allowed to paint your house

While these requirements may seem petty and arbitrary, they are in place to keep neighbors happy and property values high.

The HOA also serves as a sort of local government, and frequently obtains votes from the homeowners about the direction the community should take, such as which exterminator bid to accept or if a gate should be erected. The homeowners usually vote in a board to govern the HOA and help lead the development.

Contact Us

If you live in a community with a Homeowner's Board and are considering restructuring the mortgage on your home, contact the Maryland mortgage modification lawyers of Chaifetz & Coyle, P.C., by calling 410-992-0444.