S.O. from outside of Connecticut writes: Dear Mister Condo, I’m considering buying a condo. But I noticed that it is having a foreclosure problem (due to not paying HOA fees). Should I not purchase the condo? What is the immediate or potential impact of foreclosure in an HOA if other units are foreclosed upon? Mister…
Search Results for: foreclosure
Refusal to Pay Condo Special Assessment Can Lead to Foreclosure
A.M. from outside of Connecticut writes: Dear Mister Condo, What action can be taken against unit owners who refuse to pay a $100 special assessment levied because of a snow removal fund shortfall? Mister Condo replies: A.M., with the amount of snow that fell here in the Northeast this past winter, I would think your…
Lien Holder Notification in Condo or HOA Foreclosure
D.S. from outside of Connecticut writes: Dear Mister Condo, How can I tell if the HOA or Condo Association either did or did not notify all other lien or mortgage holders of the upcoming foreclosure? Mister Condo replies: D.S., foreclosures are not usually left to HOA or condominium association volunteers. Generally speaking, they fall into…
HOA Licensure for Foreclosure?
R.C. from outside of Connecticut writes: Dear Mister Condo, Does the HOA have to be licensed in order to foreclose on a condo? Mister Condo replies: R.C., thank you for writing. I can only offer friendly advice here, so, please accept my reply as such. Consult with a qualified attorney if you require a true…