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The titled owner is responsible for HOA assessments, whether it be the fore-closed-up owner or the bank -- when the bank takes over title to the property.
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∙ 10y ago
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Who pays homeowner assoc. fees the mortgage holder or the deed holder?
The deed holder is responsible for paying the HOA fees.The deed holder is responsible for paying the HOA fees.The deed holder is responsible for paying the HOA fees.The deed holder is responsible for paying the HOA fees.
After the bank forecloses on a condo do you pay HOA fees in Florida?
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'.
How do you defend against hoa foreclosure?
Pay all your past due assessments and fees and the legal costs associated with trying to collect them.
Can you buy an HOA lien from an HOA and force the homeowner to pay you for all back fees and interest?
Yes. A note on the interest part--your state's law will dictate what interest, if any, you will receive. And you will assume the HOA's liability--if the lien is later declared invalid, you will be responsible for the homeowner's court costs. Make sure that it is a part of the sale of the lien that the HOA will cooperate in any foreclosure proceedings that might occur to collect the lien--without them, the homeowner will likely win.
The corp owner of a house I would like to buy bought the house at a foreclosure auction They want to give me a Special Warranty Deed Will I be responsible to pay liens unpaid HOA fees and or backtaxes?
Your financial responsibilities are detailed in the transaction documents. There is no standard answer to your question.
Is the bank liable for Taxes and HOA fees on foreclosed homes in Florida?
The titled owner is responsible for taxes and assessments: if such an owner is a bank, the bank is responsible.
In Florida how much can a HOA charge in fees for paying HOA fees late?
You can find the answer you want in your governing documents.
After a foreclosure are you still liable for the banks attorney fees or your delinquent home owners association fees?
Foreclosure of an HOA unit usually means that someone other than you owns the unit.Depending on your situation, and depending on the claim filed for monies you owe, you may be personally liable for these amounts also.In addition, if you've been allowed to remain in the unit as a tenant, for example, you maybe responsible for these monies.Your attorney can help you understand your particular responsibility in your unique situation.
When purchasing a home who is responsible for past due HOA fees - buyer or seller?
The seller should pay up to and including the day of closing.
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.
Is there a maximum amount of HOA fees that can be recovered with a lien?
State laws are different on this topic. Your governing documents and the state law may prioritize HOA assessments above the recovery rights of a lender at the time of foreclosure, for example, or not. The lien may cover six months' worth of assessments, or more. In direct answer to your question: Yes. The maximum amount that can be recovered with a lien is the amount owed, plus whatever late fees, attorney's fees, and other fees involved in recovering the payment.
HOA fees foreclosure and bankruptcy?
We were granted a chapter 13 over a year ago in which we surrendered out house. The lender, GMAC, has not sold the home, but keeps putting if on the market and taking it off. No one has lived there for the last two years, yet our HOA still expects us to pay for the road maintenance fees - even though we no longer even drive there or live there. Is this right? What can we do? Sorry, but when I tried to enter this in as a question, it kept cutting me off after just the first two sentences.
