Foreclosure in 92507>Question Details

Karen Slider, Renter in 92507

I moved out of my condo about 3 months prior to foreclosure. I had not been making the HOA payments. The condo has since been sold but now the HOA

Asked by Karen Slider, 92507 Fri Apr 16, 2010

has assigned my account to a collection agency. Am I still responsible for the unpaid dues even though the condo went into foreclosure and was subsequently sold at auction?

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I am the President of Condo Association in Cincinnati and a Real Estate Professional. 1 of our units just was purchased at auction following forclosure by the mortgage holding financial institution. We hired an attourny to file a lien against the unit for 2 years of unpaid HOA fees. Prior to sale of that condo by the bank to an end-user, all liens will need to be satisfied for the property to close. This action forces the bank to pay the amount due in accordance with the lien we filed. However, the bank may seek payment from its former owner, I would strickly advise seeking legal counsel for a full understanding of those procedures.
0 votes Thank Flag Link Wed Sep 1, 2010
I would use the HOA pool and invite over my friends after Friday each night after 12 and raise the money to pay for the outstanding balance. You could call it a drip and dry party all donations go for a charitable cause.
The party goes on until the debt is payed
0 votes Thank Flag Link Wed Sep 1, 2010
Most likely the bank will pay the past due HOA bill when the property sells. But they may get a judgement in case they have to settle on the amount.
0 votes Thank Flag Link Fri Apr 16, 2010
It's possible that you are responsible for the past due HOA fees. You should contact an attorney to be sure and see what your options are.
0 votes Thank Flag Link Fri Apr 16, 2010
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