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What help or laws does a disabled person have in foreclosure from condo association?
Wiki User
∙ 10y ago
When the association forcloses on a unit, this is generally the final, last and most onerous action the association can take against an owner -- usually for non-payment of assessments.
Best practices dictate that you reach out to an advocate who is a specialist in your disability, and explore your options. Different laws in different states, and help and assistance in different locations may be able to give you the support you need.
Wiki User
∙ 10y ago
In the United States, the Fair Housing Act prohibits discrimination against individuals with disabilities, including in housing matters such as foreclosure. Disabled individuals may have certain rights and protections under the Act, such as the right to request reasonable accommodations or modifications to their living environment. However, specific laws and assistance for disabled persons in foreclosure from condo associations may vary depending on the jurisdiction, so it is advisable to consult with an attorney or local housing authority for guidance.
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If your condo goes into foreclosure do you still owe the condo fees?
Yes, until the bank is the owner. The fact you're in foreclosure doesn't change the fact utilities need to be paid as well as your staff. It's not only the bank that can put you into foreclosure; even your HOA/condo association can force the sale of your home due to delinquency.
Who owes the condo fees incurred after a foreclosure?
Assessments are owed to the association by the condominium owner. If it's a bank, then the bank owes assessments.
What happens to the first mortgage on a condo in Florida when the condominium association forecloses for unpaid association fees?
For the condo association foreclosure to be valid, the bank who holds the mortgage must be notified of the foreclosure action, and the mortgage company has the opportunity to do a couple of things: They can pay the delinquent condo fees themselves, to protect their own interests, and force the borrower to pay them back. If the borrower is unable to repay the condo fees, it could put the mortgage payments in default, and be grounds for the lender to begin foreclosure proceedings. If the borrower is behind in their mortgage payments, the bank can join in the condo association's foreclosure action themselves. This is actually a great assistance to the bank, as it saves them the time and trouble of initiating the lawsuit - they just get to piggy-back on the condo association's foreclosure, which makes the foreclosure sale happen that much sooner. And since the bank's lien has priority over the condo association, the bank would be the one to get paid off first if the property got sold to a third party at the foreclosure sale, or if nobody bid on the property, they would be the ones who would become owners of the condo. If, for whatever reason, despite getting proper notice, the bank does nothing and the condo association forecloses on the property. The first mortgage holder has a lien that always survives the condo association's foreclosure. In fact, second mortgages are usually superior to the condo association's lien for unpaid maintenance fees. Usually the condo association gets stuck with owning a property with at least one outstanding mortgage with an outstanding mortgage balance greater than the actual value of the property because of the decline in real estate value. Most condo associations allow the first mortgage holder to foreclose on the property after their foreclosure is done. The main point is that in Florida a condo association foreclosure has no effect on the first mortgage.
What is a motion to compel foreclosure?
If it can be proven that a bank is deliberately stalling the foreclosure, attorneys for the owner or condo association can ask for a motion to compel and have the court make the foreclosure immediate. This is happening in current cases where foreclosures drag on for years with no closure.
What does it mean when a condo is in a foreclosure?
When a condo is in foreclosure it means that a lender is trying to recover funds from a borrower who has defaulted on their loan. The lender claims possession of the property to satisfy the debt.
What to expect in foreclosure of condo not primary home?
The foreclosure of a condominium unit upon which you hold a mortgage should proceed like any other foreclosure.
Is the deductible on a condo-owners association insurance policy considered a loss assessment?
It often is considered that and often a person's policy on their personal condo will extend to pay up to $500 of the Association's deductible. Could be less than $500 depending on how much the Association's deductible is and how many COA members there are.
We have tuff pet guidelines at our condo assn and one disabled person wants them abolished while another disabled person wants them to stay who prevails?
The outcome would depend on the specific rules and regulations of the condo association and any applicable laws or regulations in the region. It is important to carefully review the governing documents and consult with legal professionals to understand the rights and restrictions regarding disabled individuals and their pets in the condo association before making a decision.
Are older women who are elegible for medicare losing homes to foreclosure faster than other homeowners At what rate Does illness play a part Does ownership of a condo with a condo association that's negligent, shady, corrupt and unethical in business?
There is no complete study indicating the older women eligible for medicare losing homes to foreclosure. Studies do indicate that if illness plays a part, in order to cover medical bills, the homeowner will be behind in mortgage payments. Unethical condo associations do play a role in foreclosures.
If your home is in foreclosure status can a lien be placed for a unsecured debt?
YES. Condo Fees
Why would a Condo Association want to be interested in HUD?
HUD offers guidelines for citizens that may be required in a condominium. Topics might include discrimination addressed for disabled persons or seniors, and more.
What happens if a resident can not pay a condo association assesment?
If a condo resident can't pay an association assessment, the repercussions can vary depending on the bylaws of the association and state laws. Typically, the association might first reach out to the resident to discuss payment arrangements. If the resident continuously fails to make payments, the association may resort to more serious actions, from charging late fees and interest, to placing a lien on the property, or even pursuing a foreclosure. The key is early, open communication to prevent things from escalating. Address the issue as early as possible to find a solution. I've seen similar situations in buildings we managed at Daisy and what worked best was proactive communication and working out a reasonable payment plan.
