Foreclosure in 07018>Question Details

Tbernard, Home Owner in 07018

Can a bldg management company foreclose on a condo due to maintenance fees owed?

Asked by Tbernard, 07018 Thu May 17, 2012

Help the community by answering this question:

Answers

5
Absolutely. In NJ there is case law on this. The debt will also survive foreclosure, so that no matter what happens, the dues will need to be paid for clear title. Keep in mind, that once the management company files foreclosure it also become public record.

Hope that helps.
1 vote Thank Flag Link Thu May 17, 2012
Yes if they put a lien on the property and don't get payed, after a period of time they can foreclose , but if you have a mortgage on the property that company will step in and satisfy the lien because they don't want to loose the property and its position.
0 votes Thank Flag Link Sun Feb 9, 2014
100% yes is the answer, and just to give you an idea... so can anyone else who's owed money in regards to the condo, i.e. a contractor or for back taxes
0 votes Thank Flag Link Mon Sep 3, 2012
Sounds like a legal question, but most likely they would file a lien on the property I would guess. I guess it would also be a question of the management agreement the condo had with the company.
0 votes Thank Flag Link Thu May 17, 2012
YES
the HOA can foreclose your unit / home for non-payment of HOA dues.

Contact the HOA right away and offer payment arrangements.

Good Luck
0 votes Thank Flag Link Thu May 17, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer