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Originally Posted by dannwa  Im in a similar situation. I stopped paying on my condo effective 7/1/09 and just got the default notice last week. The details of my situation are in the scuba gear thread. I have been paying the association fees and will continue to do so until chase conducts the forclosure sale. The logic behind this is that it is my intent to stay in my unit and negotiate a principal reduction with chase. Also, though I am in month 5 of not paying I expect that it will be about another 9 months before I leave due to forclosure. Since I am legally obligated right now to pay the association I will continue to do so. If the bank takes the propery back on 12/2/09 as scheduled I will stop paying the HOA at that time. |
I pretty much agree with that plan with the HOA, condo fees are alot more than a single family detached HOA and the legalities are most probably different.