Should I Pay My HOA Dues if My Orange County Home is Foreclosed on?
Unfortunately, many homeowners today are losing their Orange County home to foreclosure and one of the questions that comes up is should they continue to pay their HOA dues.
Keeping in mind that you should always discuss these matters with your legal counsel and that this is not intended as legal advice, it is my understanding that the debt for the unpaid HOA dues will continue to follow you as a personal liability after your Orange County home has been foreclosed.
In other words, although the foreclosure will wipe out any HOA debt on the property itself, it does not relieve you, as the previous homeowner, of the liability to pay the debts that you incurred.
So, whether or not you choose to pay your HOA dues until your Orange County home is foreclosed upon, you may find that eventually your HOA may choose to pursue and obtain a judgment against you for the full amount owed, plus costs, attorney's fees and interests. Therefore, it might be a good idea to pay them and/or to negotiate a settlement amount with them.
MARS Disclaimer:
Christine Donovan, Donovan Group and DonovanBlatt are not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.
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About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate.
Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? For more information see Options to Foreclosures, understanding short sales or contact me at christine@donovanblatt.com to discuss your options.
If you want to buy a home or to list your property for sale, please click Newport Beach homes, Costa Mesa homes, Huntington Beach homes or Orange County homes. Click the link if you are interested in buying a home at a courthouse auction sale.
Contact me at christine@donovanblatt.com or 714-319-9751 to learn about her system which will make your buying and selling experience easier.
Disclaimer: All information in this blog is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warantees either express or implied. This blog is not intended to offer any legal, tax or other advice.
Federal Government Disclaimer (MARS)
- You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender [or servicer]. If you reject or accept the offer, you do not have to pay us.
- Christine Donovan, DonovanBlatt and Donovan Group are not associated with the government, and our service is not approved by the government or your lender; and
- Even if you accept this offer and use our service, your lender may not agree to change your loan.
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