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Most HOA's are not going to get into anything more complex than a simple foreclosure, which costs their budgets enough as it is.
Most sensible HOA's quietly take deedbacks if asked, but wisely do not publicize this. That saves the much high costs and longer time period of foreclosure and is a win-win in a bad situation for both parties.
There are more creative deeding options than this, which can really screw up a title beyond repair, but I am not going to go into the details since I don't want to encourage such things. However, my late uncle was confronted with a small, almost worthless piece of land that his political adversaries in city hall learned that he owned and started mowing it and sending him the bill, although not mowing similar property on either side. To get rid of this headache he did some real creative deeding, that has been cited in Continuing Legal Education courses, and his former law partner still gets comments on it twenty some years later.
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