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gorvieto · 03-24-2009, 03:19 PM

Hello everyone,

My townhouse is on the market and as I have fallen behind in my mortgage, I have also not paid my HOA dues for the last 3 months. I have already received a nasty letter from a lien company hired by the HOA indicating that I need to pay all past dues plus about $450 worth of fees ($1450 total). They say that if I do not pay by April 14, they will put a lien on my house, and could even foreclose (which is exactly what I am trying to avoid by doing a short sale!).

The realtor handling the short sale told me that I should try to negotiate with the HOA in order to get this debt paid prior to submitting an offer to the bank. The problem is that I don't have that kind of money (otherwise I wouldn't be in this mess). Will late HOA dues and property taxes be something that the bank takes from their net proceeds at the time of sale, or should I try to negotiate with the HOA to set up some sort of payment plan?

By the way, I owe 382,000 and the house is selling for 179,000 ...

Thank you.

03-24-2009, 03:19 PM	#1 (permalink)
gorvieto Member Join Date: Dec 2008 Posts: 11 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	HOA past dues and Short Sale Hello everyone, My townhouse is on the market and as I have fallen behind in my mortgage, I have also not paid my HOA dues for the last 3 months. I have already received a nasty letter from a lien company hired by the HOA indicating that I need to pay all past dues plus about $450 worth of fees ($1450 total). They say that if I do not pay by April 14, they will put a lien on my house, and could even foreclose (which is exactly what I am trying to avoid by doing a short sale!). The realtor handling the short sale told me that I should try to negotiate with the HOA in order to get this debt paid prior to submitting an offer to the bank. The problem is that I don't have that kind of money (otherwise I wouldn't be in this mess). Will late HOA dues and property taxes be something that the bank takes from their net proceeds at the time of sale, or should I try to negotiate with the HOA to set up some sort of payment plan? By the way, I owe 382,000 and the house is selling for 179,000 ... Thank you.