hoa: The HOA Could Kill Your Short Sale
- 03/19/14 06:10 AM
When speaking about short sales, there is no topic that is more common than that of unpaid liens. How do you deal with unpaid liens—not only mortgages but unpaid judgments or even an overdue HOA bill that has become a lien on the property. Pardon my candor, but the HOA can be a deal killer—not just a short sale deal killer, but a real estate deal killer in general. Here’s Why. For short sales: It’s possible that the short sale lender will refuse to agree to pay the fees associated with the HOA transfer to the new buyer (including unpaid HOA … (7 comments)
hoa: Should My Short Sale Seller Pay HOA?
- 12/22/11 01:51 AM
Dear Melissa: I am representing a seller in a short sale. This seller has stopped making mortgage payments because she does not have much money. She lost her job. She wants to know if she can also stop making payments on the HOA dues. What should I tell her? --Confused in SoCal
Dear Melissa: It is often best not to advise clients as to how they should manage their finances—especially with respect to a short sale. That being said, the HOA in the state of California can cause terrible trouble in a short sale. As you know, I am not an … (63 comments)
When speaking about short sales, there is no topic that is more common than that of unpaid liens. How do you deal with unpaid liens—not only mortgages but unpaid judgments or even an overdue HOA bill that has become a lien on the property. Pardon my candor, but the HOA can be a deal killer—not just a short sale deal killer, but a real estate deal killer in general.
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