HOA Forclosure

[MattDren15]

Florida

I bought a town home in 2008 when I was working full-time. I decided to go back to school 2 years ago and moved to another city. My parents moved into my town home and paid me the mortgage and HOA fees. Last year I missed a few HOA payments but paid the mortgage. After a few months a collection agency wanted more than I could pay (since I am in school and not working) and eventually i received papers that the house was being foreclosed on. I'm still unable to pay current HOA fees until this situation is resolved.

Like I said, I'm in school and I'm unable to pay for a lawyer or for the current HOA bill ($3,000) + lawyer fees ($5,000). I have no idea what to do as I don't want my house to be foreclosed on, especially for a HOA, but need advise on how to proceed. Does anyone have any idea what I should do? I don't have any money to pay for a lawyer and I certainly don't have the $800.00 per month the lawyer said they'll accept if I agreed to pay for 1 year.

Any advise would be greatly appreciated. Thank you in advance.

-Matt

 

[Silverplum]

Florida

I bought a town home in 2008 when I was working full-time. I decided to go back to school 2 years ago and moved to another city. My parents moved into my town home and paid me the mortgage and HOA fees. Last year I missed a few HOA payments but paid the mortgage. After a few months a collection agency wanted more than I could pay (since I am in school and not working) and eventually i received papers that the house was being foreclosed on. I'm still unable to pay current HOA fees until this situation is resolved.

Like I said, I'm in school and I'm unable to pay for a lawyer or for the current HOA bill ($3,000) + lawyer fees ($5,000). I have no idea what to do as I don't want my house to be foreclosed on, especially for a HOA, but need advise on how to proceed. Does anyone have any idea what I should do? I don't have any money to pay for a lawyer and I certainly don't have the $800.00 per month the lawyer said they'll accept if I agreed to pay for 1 year.

Any advise would be greatly appreciated. Thank you in advance.

-Matt

Sounds like you made choices that conflicted with your obligations. What do you want? To stay in school and lose your house? Leave school, get a job, and pay your bills?

 

[MattDren15]

Sounds like you made choices that conflicted with your obligations. What do you want? To stay in school and lose your house? Leave school, get a job, and pay your bills?

I'd like to stay in school and not lose my home, if that's an option; however, if I had to choose, I'd choose to stay and school and lose the home. But if I was to do so, should I continue to pay the mortgage? I've continued to pay it.

 

[MattDren15]

Also, should i do anything during the foreclosure or let everything take its course?

 

[quincy]

Florida

I bought a town home in 2008 when I was working full-time. I decided to go back to school 2 years ago and moved to another city. My parents moved into my town home and paid me the mortgage and HOA fees. Last year I missed a few HOA payments but paid the mortgage. After a few months a collection agency wanted more than I could pay (since I am in school and not working) and eventually i received papers that the house was being foreclosed on. I'm still unable to pay current HOA fees until this situation is resolved.

Like I said, I'm in school and I'm unable to pay for a lawyer or for the current HOA bill ($3,000) + lawyer fees ($5,000). I have no idea what to do as I don't want my house to be foreclosed on, especially for a HOA, but need advise on how to proceed. Does anyone have any idea what I should do? I don't have any money to pay for a lawyer and I certainly don't have the $800.00 per month the lawyer said they'll accept if I agreed to pay for 1 year.

Any advise would be greatly appreciated. Thank you in advance.

-Matt

I am not understanding how or why you missed "the few HOA payments" if these were paid for by your parents. Where did this money go?

Are you employed even part-time while you are attending school?

You could potentially look into getting a personal loan to cover the amount owing to perhaps forestall foreclosure, or you could try to sell your house quickly before you lose your equity in it.

There are legal aid clinics scattered throughout Florida and you might want to see if you can find some help there.

 

[MattDren15]

I am not understanding how or why you missed "the few HOA payments" if these were paid for by your parents. Where did this money go?

Are you employed even part-time while you are attending school?

You could potentially look into getting a personal loan to cover the amount owing to perhaps forestall foreclosure, or you could try to sell your house quickly before you lose your equity in it.

There are legal aid clinics scattered throughout Florida and you might want to see if you can find some help there.

The first month I forgot to pay it. The second month I had to use the money for books. Once I didn't pay 2 months they sent it to collections and I couldn't pay the monthly HOA fee so it accumulated. I do have a part time job. I work 20 hours per week. It's not near enough.

I think foreclosure is my only option. If this is the case, what do I need to do?

 

[RRevak]

The first month I forgot to pay it. The second month I had to use the money for books. Once I didn't pay 2 months they sent it to collections and I couldn't pay the monthly HOA fee so it accumulated. I do have a part time job. I work 20 hours per week. It's not near enough.

I think foreclosure is my only option. If this is the case, what do I need to do?

You "forgot" to pay? Uh huh, sure. Clearly you decided to live off of the money instead of using it to pay for what it was supposed to pay for. I have to ask though, are your parents still living in the townhome and are they aware that they're about to be homeless? I'm sincerely hoping they aren't as that makes your actions even more irresponsible as they were depending on you to ensure the money they gave kept the roof over their heads and you dropped the ball bigtime.

At this point you have only a few options: borrow the money to pay off the balance, drop the school down and get another job to work to cover the balance yourself, try to sell quickly, or sit back and let the home go and deal with having a foreclosure on your record. Hopefully you make a better decision this time than you have thus far.

 

[FlyingRon]

Negotiate with the HOA but you better have a good plan. My HOA has had to foreclose on a couple of lots, but these were YEARS in arrearage and we had no optimistic chance of ever recoupling them (we normally will just lien the properties).
Are you deliquent in your taxes too? Your mortgage payments?

Foreclosure is what happens when people buy property and can't pay for them.

 

[MattDren15]

I didn't know this forum was so full of dick responses.

I'll tell the truth this time: this isn't even my house. It's my fiances. It's her parents living in the house. Why do you guys like to judge so quickly? She forgot to pay the HOA. Is that a hard thing to comprehend? I'm just looking to see what I could do, if anything, to help her out.

Yes, her parents are well aware and do not mind. They were renting the house only to help her out. They could easily find another place.

Please only respond with helpful comments. I'm not looking for a lecture on responisbilty.

 

[MattDren15]

Flyingron, thanks for the response. No, not a delinquent on the taxes, just the HOA. What are the chances it's a lien? She bought the home in 2008 for 100k but it's now only worth 73k. Does that make a difference? If they do decide to out a lien on the house, could we start making the HOA payment again?