When one purchases property in a common interest development (or HOA) a whole raft of legal documents accompany the transaction.  Most homeowners only slightly review these documents and little understand the depth and breadth of the content.  Most likely to be overlooked (perhaps even not revealed) is the Internal Revenue System (IRS) standing of the HOA. However, you may wish to know more about that standing after you read the following.  Is not a given that your HOA has tax-exempt status, nor is it guaranteed that any HOA will keep that status. Flip②▶ STORIFY ♥ FLIPBOARD ★ BLOGGER ▲ ALTACITIES © Now with 1,200+ followers on http://socialcurrent see.com [ View the story "HOA Board actions threaten IRS action" on Storify ] "The only way you can truly control how you are seen is being honest all the ... #dailyqotd #qotd http://t.co/fq1zI7UyVq — Mike Foxworth (@ALTALOMAN) July 15, 2015

Like my HOA (a 55+ community in Southern California's Inland Empire), a majority of your neighbors probably purchased their dwellings with cash or with conventional financing. Not many (if any) required, or were even allowed the option of government-backed financing. So this 'social current see' may not be relevant for your situation. The Federal Housing Finance Agency is an independent federal agency created as the successor regulatory agency resulting from the statutory merger of the Federal Housing Finance Board, the Office of Federal Housing Enterprise Oversight, and the U.S. Department of Housing and Urban Development government-sponsored enterprise mission team, absorbing the powers and regulatory authority of both entities, with expanded legal and regulatory authority, including the ability to place government sponsored enterprises into receivership or conservatorship. Flip②▶ STORIFY ♥ FLIPBOARD ★ BLOGGER ▲ [ View the story "HOA foreclosure complicat...