Buying Foreclosure Home with Mandatory Equity Membership
Hi,
I am interested in bidding on a foreclosure home. However, the property is located in HOA community with Mandatory Equity Membership of $25,000. My question is if I won the bid and receive Certificate of Title from the courthouse, how does the HOA force me to pay the equity membership fee? Do I inherit the $25,000 from previous homeowner? What happen if I don't pay the fee?