Posted on: 26th May, 2010 08:23 am
I live in a condominium and we have a neighbor who is not complying with the rules & regulations of the association. I attended a meeting and the manager said that forclosure proceedings have been started. My understanding is that the parties holding the mortgage would be the parties that would forclose.
Hi patd,
Normally it is the lender who initiates the foreclosure action. However, if the owner of the condominium does not abide by the rules and regulations of the association, then they can even foreclose the property.
Normally it is the lender who initiates the foreclosure action. However, if the owner of the condominium does not abide by the rules and regulations of the association, then they can even foreclose the property.