Posted on: 29th Jun, 2010 07:24 am
Just received word that the condo I own will be at auction in september for non payment of HOA fees. My mortgage is over 200,000.00 the association fees are 33,000.00 do they have to pay the loan before they can do that?
Welcome evelyn,
As far as I know, if the association forecloses the property, then they will have to pay off the mortgage dues as well. As far as the deficient mortgage balance is concerned, the lender may come after you to recover the same.
As far as I know, if the association forecloses the property, then they will have to pay off the mortgage dues as well. As far as the deficient mortgage balance is concerned, the lender may come after you to recover the same.