Debt Collection, Garnishment, Repossession

questions & answers

Question: I am the president of my condominium complex and would like to collect unpaid home owner's association dues (upwards of $2,000) on a home which has been foreclosed upon. Who is responsible for payment and what is the recommended course of action to collect?

Answer:   A trustee sale of a first mortgage that was in place prior to assessments wipes out an HOA loan for the Bank and the new buyer. The obligation, under a contract theory, still runs with the prior owner but it would probably be a waste of time to chase someone who is likely insolvent or bankrupt. That said, you might try discussing the matter with the Bank or more likely its realtor and see if the Bank is willing to pay something to garner good will. Going forward, the Bank as long as it remains the owner is responsible.

QUESTIONS

  • I am the president of my condominium complex and would like to collect unpaid home owner's association dues (upwards of $2,000) on a home which has been foreclosed upon. Who is responsible for payment and what is the recommended course of action to collect?

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