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Remodel & Renovate in 33428 : Real Estate Advice

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  • Home Buying6
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Activity 1
Alma Kee, Real Estate Pro in Tampa, FL
Fri Oct 3, 2008
Alma Kee answered:
Dear Linda,

Your HOA board of directors will probably have to do a special assessment or increase your assessments to cover the shortfall. Many HOAs are seeing an ever increasing number of homeowners who are not paying their assessments so it places a higher burden on those that do pay. If a property has any equity (unlikely in this market), your HOA can have an attorney file a lien and then foreclose to get paid for up to a year's HOA assessments and the legal fees. You can request financial documents from your HOA and they're required to supply them within 10 days if you want to see where your money has been spent. There's an interesting website that you may want to visit:

Hope this helps you.

All my best,
Alma Rose Kee, P.A.
Real Estate Consultant
Charles Rutenberg Realty, Inc.
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