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You are responsible for all debits to the Association and Mortgage holder until the unit is sold.

If the unit is sold the New owner get to pay your bad debit, the mortgage company will hold you responsible for any difference between the sales price and what is owed.

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17y ago

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Related Questions

Can the foreclosed former owner of a condo be charged with trespassing on condo property in Florida after the new certificate of title as been issued to the bank?

Since trespassing is a legal matter, you are best advised to contact your local police authority if you either want a definition of trespassing or want to press charges of trespassing.


How can you buy a house after it has been foreclosed and not sold at auction?

You can contact the lender or lien holder who foreclosed on the property and make your offer to them.


If you pay the taxes on a house that has been foreclosed does that mean you own it?

No the bank owns the house.


What is bank owned homes?

bank owned homes are homes that have been foreclosed by a bank.


What should I do about my aunt's condo that I have title to and there have been no mortgage payments made?

Your name on the title implies that you own the condominium. Unless during the probate of her estate, there was a different disposition of the property, you own it. Not only are you responsible for the mortgage, you're also responsible for the monthly assessments. Not paying either of these debts will --sooner or later -- mean that the property will be foreclosed upon, sold and monies used to repay the mortgage and -- if the association has filed a lien -- the past-due assessments.


How long can you stay on your property if your home has been foreclosed in the state of Tennessee?

Till the cops evict you.


Who manages the properties that have been foreclosed upon and must now be sold by the servicer?

loss migitation


Where can one find information regarding CT foreclosures?

Information on homes which have been foreclosed in Connecticut can be found on many websites of financial institutions. Bank of America has a complete listing of homes on their website for homes which mortgages have been foreclosed on in Connecticut and other states.


Are foreclosure lists easy to understand?

A list of foreclosed homes is easy to understand. It will provide you the address and contact information for homes that have been foreclosed on. If the homes are for sale, the list will indicate what the bank is asking for the home.


What does it mean if a condo association puts a lien on your condo if you haven't been able to pay your asessment fees?

As an owner, it means that your title to your unit is 'clouded' -- your title is encumbered/ not clear -- by the amount of your assessments past due and accumulating, that remain unpaid. A lien may also appear on your personal credit report if the title is in your name.


How old is Ray Condo?

Ray Condo was born on May 16, 1950 and died on April 15, 2004. Ray Condo would have been 53 years old at the time of death or 65 years old today.


Can you buy back your home after it has been foreclosed?

Yes, certainly, if you have the cash to do it. Better late than never.