Foreclosure in Michigan>Question Details

Alex807, Home Buyer in 48375

Who is responsible for past due HOA dues once a condo is foreclosed.?

Asked by Alex807, 48375 Wed Jan 9, 2013

I moved out of my condo in 6/12 and agreed to a deed in lieu in 10/12. With the deed in lieu, the bank agreed to pay 6 month's past due HOA dues along with legal fees. I was going to then use the cash for keys to pay of the remaining balance. I received the run around for120 days and received a notes of a Sheriff Sale. The bank has backed out of the deed in lieu because of the sheriff sale. There is a lein on the property. The HOA is pressing me to pay the dues, but I have read I need to wait until after the sheriff sale. Can anyone provide me some advice or tell me who is responsible.. Go figure, my mortgage was owned by Countrywide and sold to Bank Of America. Any help would be greatly appreciated?

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The HOA fees will become a lien on the property. You can still do a cash for keys and waive your redemption period.
Talk to an attorney about legsl issues. since as realtors we cannot discuss legal matters or give legal advice.
0 votes Thank Flag Link Wed Jan 9, 2013
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