How does this work if the lender is not the one proceeding in recording such notice against a property and how long does this take, if a management co. has filed it with an attorney for not paying HOA dues?
2007-05-21 21:45:54 · 3 answers · asked by Lily 2 in Business & Finance ➔ Renting & Real Estate
No, it is not from a renter it is from the HOA and their attorney for not paying HOA fees. Renters have nothing to do with it.
2007-05-21 22:01:08 · update #1
I gather that you are a condo owner who has failed to make HOA dues payments. You need to check your condominium bylaws regarding such a scenario. In most cases, when a condo is purchased, you are asked to sign an agreement to the condominium bylaws as part of your purchase, and you agreed to pay HOA dues as assessed by the association. Failure to pay such dues can result in a foreclosure action quite similar to that generated by a lender for failure to make mortgage payments. The process proceeds in an identical fashion. However, such agreements generally are not covered by your state's 'right of redemption' laws. Have an attorney examine the language of your bylaw agreements for further advice on how to proceed.
2007-05-22 00:16:09 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
Let me get this straight, you got a notice, as a lender, from a renter, that said default??????
Good luck paying your rent, if you don't have any renter to pay your bills for you...........
2007-05-22 04:50:26 · answer #2 · answered by kaliroadrager 5 · 0⤊ 0⤋
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all the best
2007-05-23 00:37:47 · answer #3 · answered by james 3 · 1⤊ 0⤋