Posted on: 17th Jul, 2010 09:37 am
My elderly mother, due to health, needs to live with me for care. She currently owes on her condo in a retiremant community and has been trying to sell for 3 years. She wants out. The payment and HOA dues are depleting her savings and we are not concerned with her credit score etc because of her age. What are her posible options. Does teh HOA dues come in to play? We are in Florida
hi guest,
your mother should contact her lender and apply for a deed in lieu of foreclosure in order to get rid of the property. if the lender accepts her request, she won't be liable for the balance dues. however, unless the property is sold off, she would be liable for paying off the hoa dues.
your mother should contact her lender and apply for a deed in lieu of foreclosure in order to get rid of the property. if the lender accepts her request, she won't be liable for the balance dues. however, unless the property is sold off, she would be liable for paying off the hoa dues.