I got laid off and won't be able to pay hoa fees? What will happen to me and my condo?

Asked by Thomas Q., Miami Beach, FL Tue Mar 3, 2009

I am truing to get my mortgage modified but they said i need a steady income, so forget that.

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blaison samu…, Agent, Santa Clara, CA
Tue Mar 3, 2009
Sorry to hear. If you dont pay then HOA will send it to collection and you will get harrassing calls from them and then they put a lien also. The lender will not modify your loan unless you can prove you are employed and have income to pay your payment. Either try to find a job sooner if you haven't missed any payment but if you are late 2 or more months then try to do a short sale to avoid foreclosure. You have to contact a local short sale experienced agent to sell your house. Consult tax attorney or cpa for any tax implications. You need to take action fast before its too late...good luck!

Case Schiller: It's a good time to buy a house if you have good credit and have down payment. Let me know if you like any help. I'm in Union City area, close to Palo Alto.

Blaison Samuel
Certified Short Sale Specialist
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Case Schiller, , Palo Alto, CA
Tue Mar 3, 2009
Awesome advice, again, Lynn...this is the goal of home "ownership" - cutting schrubs at you rcondo to keep you unit out of foreclosure.

Is now a good time to buy?

Should I consult a local REALTOR?
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Dallas Texas, Agent, Dallas, TN
Tue Mar 3, 2009
Sorry to hear this HOA could lien your property read the documents.

Contact HOA President notify them regarding your situation, perhaps you could exchange lawn care, pool cleaning or miscel. in exchange for HOA dues, however I would place all in writing for full understanding if you barter services.

Lynn911 – ~ National Featured Realtor
Web Reference:  http://www.lynn911.com
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