“Should I Continue To Pay My Condo Fees When Doing A Short Sale?”
Did you know that when distressed condo owners stop paying their fees, the consequences are inevitable.
The association could easily put a lien on your property and create havoc to your short sale negotiation. .
All lines must be sattisfied before a short sale is completed . . and this one is the easiest to avoid with the help of the client
The answer is YES!
You kmay not be paying your mortgage. .
but a smaller condo fee shoudl be priority to continue paying it.
Another unintended consequences is that without the fees or enough fees, your association will not able to fulfill its obligations and even have enough money to pay for the utilities. In that case your condo or townhouse could become a toxic home for sale that no one would touch it.
We take notice of these cascading consequences, and see first hand how damaging could be to everyone involved.
I always ask my distressed condo or townhouse homeowners to continue making the HOA / CONDO payments during the short sale process if they can manage.. .
Check This Video For More Clarifying Information
What To Do Now?