Home owners associations have become very aggressive in trying to collect past due HOA dues. The high delinquency rate has pushed HOA’s to the brink of bankruptcy. Many short sale clients are finding that after a period of time the hoa is filling in small claims court and passing the account on to collection attorneys.
In the recent past hoa collection laxity gave us time to negotiate with the bank and buyer to pay past due HOA dues. However today, aggressive collections tactics are complicating and over encumbering the short sale process. In order to insure that you are not pursued for past due balances, late fees, and attorney fees, you should make your HOA payments.
I have seen people who have been foreclosed that are still being pursued for legal and HOA fees. If you can not afford to make your HOA payment, we will do our best to try and negotiate with the bank and or buyer to pay these fees. However, results vary and the more aggressive your HOA becomes, the more problems that could entangle this process and cause it to fail. Our advice is to consider paying your HOA dues as a cheep insurance policy against future problems. If you have any questions, please call me. While we have a very good success rate at negotiating for you the seller, the length and complexity of this process make the outcome regarding HOA actions uncertain.
This notice is not to be considered legal advice with regard to your rights.. This article is notice of possible consequences brought by non payment of your legal obligations.
Tags: foreclosure, hoa dues, Short sale
