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In the USA, can you lose your home even after it is 100% paid off? (lemmy.ml)
submitted 2 years ago by to c/asklemmy@lemmy.ml
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Let’s say that you buy a home in cash and have 100% paid off. Could you still lose it somehow?

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[–] 9 points 2 years ago (2 children)

You still have to live somewhere and keep up with monthly payments there, right?

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  • [–] 2 points 2 years ago (1 child)

    No, you can buy a land or house and just pay the legal taxes you owe. You are better off buying land and then living inside your car/mobile home then random parking lot.

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  • [–] 3 points 2 years ago (1 child)

    I thought that was the issue… property taxes. That dodges HOA, which you could do with a house too, but as you say, not property taxes.

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  • [–] 4 points 2 years ago (1 child)

    You do know HOA is a company and not a government entity right? These companies buy a lot of land and create different HOA policies. Buying land means you own the land, HOA cannot legally buy land that’s owned. There’s lots of newspapers reporting about it, sometimes being a joke.

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  • [–] 2 points 2 years ago

    I'm well aware of that, yes. However, HOAs usually insert a clause in the deed. People have tried fighting them and lost many times. Maybe some have won, idk. But personally I'd just buy land somewhere that doesn't have one.

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  • [+] -2 points 2 years ago* (last edited 2 years ago) (2 children)
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