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I caught the tail end of this on NPR and remembered to look it up. Reading it made my blood boil. http://www.npr.org/templates/story/story.php?storyId=128078864

Cliffs:

Home is purchased and paid off in a HOA neighborhood.
Captain is deployed to Iraq and misses HOA fees. The HOA sells the house for $3,500 and the new owner immediately flips it for $135,000.

The only recourse he has is that a 2003 law prevents nonjudicial foreclosures on military personnel while deployed. In the meantime, his home is gone and the 3rd buyer is screwed because they had nothing to do with it. The foreclosure and sale can take place in as little as 27 days and there's an enormous conflict of interest because the people in the HOA can then buy the foreclosed house and sell it at great profit. Bad HOA look for excuses to foreclose and penalize homeowners. In most states, HOA can take your property without going before a judge.

It reminds me of this thread where someone's HOA sold all the parking spots to a 3rd party which immediately goes nuts and boots any car even slightly over the line. http://www.myturbodiesel.com/forum/showthread.php?t=986
 
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