Richard asks…
Are we protected under the anti-deficiency law in CA?
My husband and I are part of quite possibly the worst HOA ever created. We have recently been assessed $4,000 for repairs, and will eventutally be assessed another $10,000-$30,000 for further repairs and legal fees do to an ongoing lawsuit between us and the builder of a new community that has been built across the street; and this is per homeowner. Oh, and did I mention that this is all on top of the $340 HOA dues that we pay every month?? Anyway, we are upside down 3 fold in our home, and our ARM loan will
Saturday, February 11, 2012
Condo Hoa Dues
Thomas asks…
How bad does foreclosure affect a credit score?
Due to an adjustable rate mortgage that increased $250 in one month at the same time my HOA did a special project assessment for an additional $115 per month, I had to stop making payments on my condo. In early October, I moved out and listed it for short sale (I was not eligible to re-fi). Two buyers have fallen through and after 6 months I have notified my lenders that the property has been taken off the market. I'm being told it will be another 120 days before the foreclosure process is complete.
I checked my
How bad does foreclosure affect a credit score?
Due to an adjustable rate mortgage that increased $250 in one month at the same time my HOA did a special project assessment for an additional $115 per month, I had to stop making payments on my condo. In early October, I moved out and listed it for short sale (I was not eligible to re-fi). Two buyers have fallen through and after 6 months I have notified my lenders that the property has been taken off the market. I'm being told it will be another 120 days before the foreclosure process is complete.
I checked my
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