Your answer depends on the location of the association.
In the orient, past-due owners' names are posted in every elevator waiting area.
In USA, certain privacy laws protect your reputation as a non-payer.
Read your governing documents to determine your responsibility to pay your assessments, and to learn more about the association's responsibility -- and actions they must follow -- to collect them.
The outstanding fees will show up at the closing. Obtaining a certificate that there are no fees due is an automatic part of a closing on a condo unit or a property subject to any association fees.
Yes. Read your governing documents to determine the steps required by the association -- that they must take -- before foreclosing on your home.
hrblock says i owe them money for preperation fees .i need to know how much?
Association assessments are paid by the owner of record. If your name remains on the deed, you owe assessments.In most cases, the homeowner or unit owner is responsible for paying the HOA fees prior to the foreclosure. Once the lender takes legal possession by foreclosure no further fees are added to the amount due but the HOA can pursue payment of the past due amount. In Florida, an HOA can go after a homeowner for past due fees even after the bank has foreclosed by using the process used for a 'deficiency judgment'.
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With the assumption that your association is filing a lien against your property title for unpaid assessments, please first realize that this is a valid debt that you owe. You can hire an association-savvy attorney to protest the lien based on the status of the association, and you may pay more in attorney's fees and court costs than you would spend just paying your late, unpaid assessments. If you believe that you do not owe money, and that the status of the association is the best way for you to resist paying it, then hire an association-savvy attorney to help you sort out the issues at hand.
'Not knowing it' is the key phrase in your question. Can this sale be accomplished in secret? The answer is no. If you've chosen to ignore or have chosen to disregard notices from the association -- based on your failure, then the sale has not taken place 'in secret'.
You should review your copy of the Homeowner's Association Agreement or Declaration if you have questions about its policies, rules & regulations, provisions and by-laws. The association's policy for dealing with non-payment of dues should be stated therein. It is likely the developer reserved the right to record a lien in the original declaration on behalf of the homeowner's association when it drafted the original documents. Although the developer is eventually out of the picture, the original documents it drafted will be the source of governance for the subdivision or condominium. The provisions included in that original document determine how the homeowner's association can/will operate.The association spends assessment dollars to operate the community. You promised to pay your assessments when you signed the agreement to purchase your unit. The association is obliged to pursue you for your unpaid debt, and a lien is simply one way of insuring that your assessments are paid.
You can wait for the association to take action against you for the debt you owe, or you can take action and explore payment plans that fit into your current situation.
Yes you can.
It does if the policy is current and there is adequate coverage. If the property is underinsured the insurance company will not pay for the entire loss. That all relates to the homeowner's insurance.If the mortgage is greater than the value of the property then you will owe the balance after the homeowner's insurance payment unless you have mortgage insurance.It does if the policy is current and there is adequate coverage. If the property is underinsured the insurance company will not pay for the entire loss. That all relates to the homeowner's insurance.If the mortgage is greater than the value of the property then you will owe the balance after the homeowner's insurance payment unless you have mortgage insurance.It does if the policy is current and there is adequate coverage. If the property is underinsured the insurance company will not pay for the entire loss. That all relates to the homeowner's insurance.If the mortgage is greater than the value of the property then you will owe the balance after the homeowner's insurance payment unless you have mortgage insurance.It does if the policy is current and there is adequate coverage. If the property is underinsured the insurance company will not pay for the entire loss. That all relates to the homeowner's insurance.If the mortgage is greater than the value of the property then you will owe the balance after the homeowner's insurance payment unless you have mortgage insurance.
(Continuation from above) I live in the state of Florida. I received a summons for past-due home association dues. Indeed I owe this money but they have added on a enormous amount of fees on as well. I have asked them to drop these fees and began making payments in installments. They agreed to drop the fees and 6 months later they added the fees on once again and 3x the amount. They are not doing anything to maintain the subdivision; where most of the homes are being foreclosed and looks like a broken-down ghost town. They are requesting me to pay $3000 for $1300 owed dues. Should I challenge this in court or pay these fees?