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Old 09-27-2008, 11:43 AM
 
1 posts, read 2,725 times
Reputation: 10

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I bought a condo in the Charlotte area 5 years. As many of you know already the Charlotte real estate market is not the best that we have seen. Subsequently, I have fallen into a bad financial situation and need some advice.

I pay a mortgage and HOA fees due each month. I lost my job about 2 years ago and was unable to pay both. Well luckily my mortgage company worked with me and modified my loan allowing me to keep the house and pay a higher mortgage for 6 months and get caught up. Due to the increased payment I was unable to pay my HOA fees, as a result they placed a lien on my home. I thought that the lien just had to be paid before I sold the home. Well now they are trying to forclose on my home because I have not paid the delinquent ammount. Do I have any rights, or options to help me save my home, AGAIN!!!!???
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Old 09-27-2008, 11:47 AM
 
Location: Charlotte, NC
422 posts, read 1,217,214 times
Reputation: 240
Quote:
Originally Posted by RionDeshon View Post
I bought a condo in the Charlotte area 5 years. As many of you know already the Charlotte real estate market is not the best that we have seen. Subsequently, I have fallen into a bad financial situation and need some advice.

I pay a mortgage and HOA fees due each month. I lost my job about 2 years ago and was unable to pay both. Well luckily my mortgage company worked with me and modified my loan allowing me to keep the house and pay a higher mortgage for 6 months and get caught up. Due to the increased payment I was unable to pay my HOA fees, as a result they placed a lien on my home. I thought that the lien just had to be paid before I sold the home. Well now they are trying to forclose on my home because I have not paid the delinquent ammount. Do I have any rights, or options to help me save my home, AGAIN!!!!???

Yes, a Lien will be put on your home if you do not pay your HOA dues. I do not believe there is anything you can do about it.

I am so sorry about your situation.

At this point, you need to seek out help. Professional help.

If you dont mind me asking, how much are you delinquent?
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Old 09-27-2008, 11:49 AM
 
Location: Huntersville
1,521 posts, read 4,483,843 times
Reputation: 298
Call the HOA company and talk with them. Maybe you could double up or something?
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Old 09-27-2008, 11:49 AM
 
99 posts, read 257,234 times
Reputation: 46
check and see if it's not too late to set up a payment plan with the law office to prevent foreclosure.
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Old 09-27-2008, 11:50 AM
 
Location: Charlotte, NC
422 posts, read 1,217,214 times
Reputation: 240
Quote:
Originally Posted by QC Misfit View Post
Call the HOA company and talk with them. Maybe you could double up or something?
Absolutley! Have you talked to your HOA about your hardship?
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Old 09-27-2008, 11:54 AM
 
99 posts, read 257,234 times
Reputation: 46
Quote:
Originally Posted by QC Misfit
Call the HOA company and talk with them. Maybe you could double up or something?


Quote:
Originally Posted by NewBeginnings12 View Post
Absolutley! Have you talked to your HOA about your hardship?
I think once it gets to a lawyer, you will have to work with the lawyer on a payment plan and they will communicate with the HOA board. The HOA management company will be mostly hands off at this point--they will be just relaying info between all the parties.
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Old 09-27-2008, 12:04 PM
 
Location: Huntersville
1,521 posts, read 4,483,843 times
Reputation: 298
you can call for a meeting of some sort. They do not want to foreclose especially in today's world. A simple phone call could go miles.
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Old 09-27-2008, 12:09 PM
 
Location: South Carolina
44 posts, read 118,851 times
Reputation: 17
I was on an HOA board, you have to call the lawyer immediately and try to set up a payment deal. The most important thing is communication. Tell them what happened, get a plan and pay it on time.

HOAs will work with you, they do not want your home, trust me on that one.

But when it gets to a point that they see no other option, they do resort to foreclosure. Call the lawyer and talk to them. The absolute worse thing you can do is not talk to them.

I hope that everything works out for you.
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Old 09-27-2008, 03:59 PM
 
2,152 posts, read 6,068,246 times
Reputation: 1377
As a rule in my HOA we never foreclose on someone who will communicate with us. rather than let a house in a bad market go to foreclosure we can ALWAYS work something out.

Communicate either with the board itself or through the management company.

I am sorry for your hardship and wish you the best
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Old 09-27-2008, 07:57 PM
 
221 posts, read 650,021 times
Reputation: 69
Default Call for help

I would call your HOA association and explain the situation. I am the president of our HOA board, and the last thing that I would want to do would be to foreclose on someones property due to a hardship. The lien will remain on your property until paid or will be recouped when you sell your condo. The association does have the right to begin foreclosure on your property, but that is not what they want. So my advise is to call either the HOA or management company to start. Best of luck to you.
Quote:
Originally Posted by RionDeshon View Post
I bought a condo in the Charlotte area 5 years. As many of you know already the Charlotte real estate market is not the best that we have seen. Subsequently, I have fallen into a bad financial situation and need some advice.

I pay a mortgage and HOA fees due each month. I lost my job about 2 years ago and was unable to pay both. Well luckily my mortgage company worked with me and modified my loan allowing me to keep the house and pay a higher mortgage for 6 months and get caught up. Due to the increased payment I was unable to pay my HOA fees, as a result they placed a lien on my home. I thought that the lien just had to be paid before I sold the home. Well now they are trying to forclose on my home because I have not paid the delinquent ammount. Do I have any rights, or options to help me save my home, AGAIN!!!!???
Reply With Quote Quick reply to this message
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